Riding the India wave
The India story seems to be going good for PAUL WHITTAKER as it's not every day that foreign companies declare their preference for India over China. But for Whittaker, 48, CEO (Emerging Markets), Royal & SunAlliance, India is numero uno in the list of the 27 countries that the world's oldest general insurance company is present in. "In profitability and revenues, India may not rank high in our global portfolio, but in terms of our future ambitions, it ranks number one," Whittaker asserts, though with good reason. While India currently accounts for 1.4 per cent (Rs 603 crore) of the net written premium for the company; by 2010, the new written premium would be nearly three times the current size of around Rs 1,500-1,600 crore. His prescription for business growth centres on de-tariffing, low penetration and higher GDP growth. Not surprising then, he is eagerly waiting for the government to open up FDI in insurance.
Scoring an Ace
Mendu Rammohan Rao, 65, may be keen to hone his golfing skills, but he has already hit a birdie. Dean of the Indian School of Business, Hyderabad, Rao has just been elected to the Board of Directors of the Graduate Management Admission Council (GMAC), a us-based global body and the owner of the celebrated GMAT, for a three-year term starting July. He is the first Indian business school dean to be named to the prestigious body. The well-known academician-who's been with ISB for the past three years and has arguably lent a lot of stability to the school-offers a two-pronged solution to the talent pool issues in India. "Increase the intake of students and make compensation more attractive for the faculty to ensure good talent is attracted to education," he proffers. Point taken, Sir.
Future calling
A lifer with the Lalbhai group, DARSHAN MEHTA recently decided to quit as CEO, VF Arvind Brands. The long, eventful tenure at Arvind that began in 1984, finally came to an end when Mehta, 45, decided to move on as CEO of Future Brands. A qualified chartered accountant, Mehta played a plethora of roles at Arvind-from stockbroking and advertising to corporate consultancy and juggling the company's finances. Come September, and Mehta will oversee the responsibilities of bringing international designer brands into India at Future Brands-in a way competing with Arvind as far as the 'brands' business is concerned. Though Mehta was unavailable for comment, considering his hit rate so far-he surely has just the right credentials to soar in his new role.
Waiting for 1-10-100
Ot's been four years since former Infosys star executive PHANEESH MURTHY, 44, joined iGate Global Solutions as CEO and promised to be the disruptive force in Indian it by ushering in shared services and transaction-based pricing. So far, he hasn't managed to produce any extraordinary results. Just the same, iGate seems to be gaining traction. For the first quarter ended June 30, the Bangalore-based "integrated technology and operations" company reported a 1,268 per cent jump in net profit (don't be too impressed; the quarterly bottom line went up from Rs 1 crore to Rs 14 crore), despite a stronger rupee. "We are in a much stronger position today," says Murthy. He's got another five years to deliver on his 1-10-100 promise-that is, $1 billion in revenues, a top 10 employer, and vendor to 100 global customers by 2012. One quarter down, 19 more to go.
The peace maker
Any conversation about the old square-off between Ad Club Bombay and Advertising Agencies Association of India (AAAI) is discouraged by MADHUKAR KAMATH, 52, MD & CEO, Mudra Group. Recently elected President of AAAI for 2007-08, Kamath waves it off. "I am personally a member of the Ad Club and my organisation is a member of AAAI and I believe that both play a very crucial role," he says pointedly. And maybe he's just the change agent the advertising industry could do with. He was instrumental in bringing Bates into India and completed the acquisition of a nearly defunct Clarion in early 2000. He knows the dynamics of the big networks and is the badge for only surviving, large 'Indian' agency that's controlled by Anil Dhirubhai Ambani Group. Loads of work ahead, Kamath hints at opening dialogue with agencies that are still not part of AAAI, which currently has 84 members on board.
Just doing his own thing
SUNIL DUTT, 45, is moving on from Nokia India. Dutt, who as director-sales played a critical role in establishing the distribution network that has given the Finnish company a stranglehold over the Indian mobile handset market, wants to do his own thing now. "I have always wanted to do my own thing, and I believe I have a great understanding of the market and distribution and, therefore, I am entering the retail space." Dutt, an alumnus of the University Business School, Chandigarh, is tying up with a big industrial house, but refused to disclose the name. However, he pointed out that he was not leaving Nokia because the company posted him abroad (to Indonesia), "That was a compliment, a sign that the company trusted me to take over a key market. The last five-and-a-half years at Nokia have taught me tremendously and I owe them a lot." Learning done; it's time to dial in change.
(With Kushan Mitra, Mahesh Nayak, Shamni Pande and E. Kumar Sharma)
