The Shapoorji Pallonji Mistry family, whose interest spans from real estate to consumer goods, has inducted its new generation into the holding company of the 15-decade-old business empire.
Pallon Mistry, son of Shapoor Pallonji Mistry, chairman of Shapoorji Pallonji and Co, has been inducted on the board of the group holding company, while his sister Tanya will handle group corporate social responsibility activities, company officials stated.
“The mandate of the inducted members is to help the group companies with digitalization and have good communication with its shareholders,” a person with direct knowledge of the development.
Pallon and Tanya’s father Shapoor Mistry along with his brother Cyrus Mistry owns 18.6% stake in Tata group’s holding company Tata Sons. Pallon, 26, will now be part of the major panel that takes long term, strategic and impactful decisions. He has worked in different roles in the operating companies across the globe. He started working with the group from 18 during his summer breaks, and has been mentored by his father, uncle Cyrus and many senior group officials, the sources said.
“Pallon will aim at bringing new technology and digital ideas into business as he believes there’s a lot of room for disruption, such as robotic technologies in the construction sector,” a senior official said. The other importance will be to hire more professionals to expand the business and make it more agile. “A key challenge for Ge-Next of the promoter family will be to maintain and build on this goodwill while realizing sustainable growth in traditional and new businesses,” said Kekoo Colah, executive director at Shapoorji Pallonji and Co.
The oldest Indian construction company, Shapoorji Pallonji, and Co have metamorphosed into an engineering solutions provider