Tata Sons has selected Cyrus Mistry to succeed Ratan Tata as its chairman after he retires next December. In a year from now, Mistry, will be the chairman of Tata Motors.

Mistry is the MD of Shapoorji Pallonji group, which has interests in construction, real estate, infrastructure and textiles, and a director of Tata Sons. He has initially been appointed deputy chairman of the holding company and will take over as chairman when Ratan Tata retires in December.