Shapoor Mistry, chairman of Shapoorji Pallonji (SP) Group, has brought his late brother Cyrus’ sons — Firoz (27) and Zahan (25) — into the inner circle of group operations, inducting them into a key transformation-focused strategic team that also includes his own son, Pallon, people in the know told ET.
The move is seen as an initiative to draw in the next generation.
The move involves the next generation in crucial, path-defining structural changes, and makes the debt-laden infrastructure conglomerate futureready by entrusting the newcomers with capital allocation and governance responsibilities. After his exit from Tata Sons in 2016, Cyrus—who had stepped down from Shapoorji Pallonji board positions to become chairman of Tata Sons- —chose to keep away from any direct role in the former, said the people cited above.
After his passing in 2022, Shapoor has brought Cyrus’ sons into the business, extending to them the mentoring and guidance he provides to Pallon.
Shapoor wants them to be more involved in group operations strategically but they will not be involved in any P&L roles, they said. Recently, Shapoor, 61, resigned as chairman of Afcons Infrastructure, the group’s flagship, while his son, Pallon Mistry, 33, who has been involved with the business for around eight years, has been appointed to the board.
Shapoor would also eventually induct both Zahan and Firoz on the group’s boards, people aware of developments said. SP Group did not respond to ET’s request for a comment. Group watchers said the ongoing organisational transformation is needed to make businesses more resilient. “The new gen has identified the challenges within and has sought to address that,” said an executive, requesting anonymity.
The move comes amid a broader business restructuring at SP Group, which is returning to its original twin-holding structure—SC Finance and SP Finance—while converting Shapoorji Pallonji Co into a pure-play construction company
The move is seen as an initiative to draw in the next generation.
The move involves the next generation in crucial, path-defining structural changes, and makes the debt-laden infrastructure conglomerate futureready by entrusting the newcomers with capital allocation and governance responsibilities. After his exit from Tata Sons in 2016, Cyrus—who had stepped down from Shapoorji Pallonji board positions to become chairman of Tata Sons- —chose to keep away from any direct role in the former, said the people cited above.
After his passing in 2022, Shapoor has brought Cyrus’ sons into the business, extending to them the mentoring and guidance he provides to Pallon.
Shapoor wants them to be more involved in group operations strategically but they will not be involved in any P&L roles, they said. Recently, Shapoor, 61, resigned as chairman of Afcons Infrastructure, the group’s flagship, while his son, Pallon Mistry, 33, who has been involved with the business for around eight years, has been appointed to the board.
Shapoor would also eventually induct both Zahan and Firoz on the group’s boards, people aware of developments said. SP Group did not respond to ET’s request for a comment. Group watchers said the ongoing organisational transformation is needed to make businesses more resilient. “The new gen has identified the challenges within and has sought to address that,” said an executive, requesting anonymity.
The move comes amid a broader business restructuring at SP Group, which is returning to its original twin-holding structure—SC Finance and SP Finance—while converting Shapoorji Pallonji Co into a pure-play construction company
You may also like
'False STEM workforce shortage': Republican lawmaker pushes for amendment to stop H-1B abuse
Who is Suhas Subramanyam? Indian-American Congressman raises voice on hate crimes against Hindus and attacks on temples in the US
Gregg Wallace breaks silence on BBC lawsuit as he thanks for 'courageous' support
BSF arrests smuggler along India-B'desh border, seizes gold valued at over Rs 55 lakh
Trump urges EU to impose 100pc tariffs on India and China over Russia
