Leading from the front

Nusli Wadia is still fighting his battles and emerging stronger from them. His latest victory, after three years of sparring: a separation from French major Groupe Danone, which had a 25.48 per cent stake in foods major Britainnia, with Wadia holding another 25.48 per cent. Wadia now has sole control over Britannia.

Wadia’s previous victory was over Sunil Alagh, then Managing Director of Britannia. Alagh had been at the helm of the biscuits major for 10 years, until Wadia removed him in 2003. After Alagh’s ouster, the conjecture was Nusli’s younger son Jehangir (Jeh) would be handed over the reins. Jeh was given a seat on the board but Wadia brought in a professional, Vinita Bali, to head Britannia. It was a masterstroke that helped build his credibility.

There is something in Wadia that seems to be itching for a fight. When Arun Bajoria, a jute baron from Kolkata, surreptitiously picked up a 14 per cent stake in Bombay Dyeing, he referred to Wadia as “the grandson of Mr Jinnah” (M.A. Jinnah was Wadia’s maternal grandfather) to hurt him where he is most vulnerable.

Wadia hit back and exposed Bajoria’s own weakness: a complete disregard for the law. Soon the illegal nature of Bajoria’s moves was apparent and he exited the company. There was also the battle with the late biscuit baron Rajan Pillai, a one-time friend turned foe. Then, too, the fight was over Britannia. In fact, for most of his life, this Parsi gentleman has fought corporate battles. His first big fight was with his father Neville—when the latter wanted to sell Bombay Dyeing to the Goenkas and settle in Switzerland.

The young Nusli not only retained the company, but ensured that his father, too, remained in India. His future battles will involve his sons’ struggles to establish themselves as business leaders. Ness Wadia is managing the crisisridden Bombay Dyeing. Younger son Jeh, who heads the low-cost airline GoAir, too, is in trouble since the aviation sector has been hit by the slowdown. Nusli Wadia loves a fight, but battling a slowdown may prove to be a different cup of tea.

Nusli Wadia Age: 65 Designation: Chairman, Bombay Dyeing, Britannia Industries Corporate Samurai Wadia has never shied away from a fight. 1981 Takes on Dhirubhai Ambani, with help from Ramnath Goenka 1993 Clashes with one-time friend Rajan Pillai in a battle for Britannia 2000 Jute baron Arun Bajoria buys a 14 per cent stake in Bombay Dyeing, tries to sell to Wadia at a premium; Wadia refuses to blink and Bajoria exits 2003 Succeeds in ejecting MD Sunil Alagh from Britannia Industries 2009 Gains total control of Britannia by nudging out Groupe Danone after a three-year battle

 

— Suman Layak