Ambani, Adani and Nadar are Forbes 2020 A - listed billionaires

Mukesh Ambani, Gautam Adani and Shiv Nadar have reserved the top three spots on the latest Forbes 2020 listing of Indian billionaires. Ironically, the ongoing Covid-19 pandemic worked in favour of these Indian billionaires, who have witnessed gains, as indicated in the latest Forbes list of 100 richest Indians. Mukesh Ambani, Chairman, Reliance Group of Industries (RIL) topped the list for the 13th year and accounted for more than half of the collective gains of all the Indian billionaires. He added $37.3 billion, enhancing his fortune by 73% to $88.7 billion. Shares of RIL surged, during the national lockdown, as Ambani raised more than $20 billion from a string of investors for its fast growing Jio Platforms. Ambani has identified technology and retail as future growth areas, gradually moving away from the energy businesses he inherited from his father. Retail is the next big frontier for the 63 year old tycoon who envisages to create a home-grown e-commerce entity mimicking China’s Alibaba Group Holding Ltd. Gautam Adani, Chairman, Adani Group retained his 2nd spot by increasing his net worth by 61% to $25.2 billion. Shiv Nadar, who recently stepped down as chairman of HCL Technologies and passed on the baton to his daughter Roshni Nadar, secured the 3rd position with $20.4 billion as shares of HCL surged. Other top 10 rankers include Radhakishan Damani ($15.4 billion), Hinduja brothers ($12.8 billion), Cyrus Poonawalla ($11.5 billion), Pallonji Mistry ($11.4 billion), Uday Kotak ($11.3 billion), the Godrej Family ($11 billion) and Lakshmi Mittal ($10.3 billion). The others in the top 20 scale are Sunil Mittal ($10.2 billion), Dilip Shanghvi ($9.5 billion), Burman family ($9.2 billion), Kumar Mangalam Birla ($8.5 billion), Azim Premji ($7.9 billion), the Bajaj family ($7.4 billion), Madhukar Parekh ($7.2 billion), Kuldip and Gurbachan Singh Dhingra ($6.8 billion), Savitri Jindal ($6.6 billion) and Murali Divi ($6.5 billion) in the 20th position.

Adidas appoints Rajkumar as HR Head

Adidas has roped in Amanda Rajkumar former HR Head of the French bank, BNP Paribas to head the company’s HR functions from 2021. Rajkumar fills in the gap created by former HR Head, Karen Parkin’s departure following a racism row at the German sportswear company. British national, Rajkumar, previously worked for JP Morgan for almost a decade. Adidas CEO, Kasper Rorsted expects Rajkumar to help strengthen diversity at the company in making Adidas a truly diverse, inclusive, people-driven and equitable company.

Roche’s Subramanyam to helm affairs at Wipro GE Healthcare

Shravan Subramanyam has taken over as Managing Director of Wipro GE Healthcare with the dual responsibility of President & CEO at GE Healthcare India & South Asia. He relinquishes his position as the Managing Director of Roche Diagnostics overseeing India and its neighbouring markets. He was responsible for commercial operations, market access, customer experience and digital transformation efforts at Roche. Subramanyam succeeds GE’s Nalinikanth Gollagunta who will assume a new role as Global Chief Operating Officer (COO) of GE Healthcare Digital organisation. Subramanyam’s responsibilities include building upon Wipro GE’s expansion plans, strategic growth objectives, delivering on commercial outcomes and driving partnerships in the region. He will also continue to steer the company’s agenda of innovating disruptive technology and business solutions for enhancing access to high-quality and affordable healthcare solutions. He will be leveraging his past experience and GE’s pioneering efforts in manufacturing, innovating and business solutions to help transform the Indian healthcare sector.

HDFC CMO joins Forbes Influencer List

Ravi Santhanam, Chief Marketing Officer (CMO), HDFC Bank has made it to the Forbes list of ‘The World’s Most Influential CMOs’ and the only CMO of an Indian company to be featured on the coveted list. Ranked 39, Santhanam joins the illustrious list of global marketing heads of companies like Apple, BMW, Lego, Adobe, Microsoft, P&G and others. Forbes honoured Santhanam as a marketing leader who has prioritised personalised and relevant customer experience while believing that machine learning and data science are critical tools for marketers. Forbes choice in Santhanam was largely due to the Indian private sector bank’s response during the pandemic, as it launched the #HDFCBankSafetyGrid campaign to enable safe distance in public spaces. He also led the creation of the inspirational “Hum Haar Nahi Maanenge” music video about overcoming adversity featuring Indian musical talent. In its 8th edition, the Forbes annual CMO list, partnered with Sprinklr and LinkedIn to choose from around 427 eligible global CMOs. They were considered based on data generated from news reports, websites and social networks for influencer measurement. In another recognition, Millward Brown, a WPP Group company has also adjudged HDFC Bank as India’s Most Valuable Brand for seven consecutive years.

Former Sun Pharma CIO joins Biocon

Biocon has roped in Atanu Roy, former CIO at Sun Pharma to take over as the company’s new Group CIO. Roy will lead Bengaluru-based Biocon’s technology domain, supporting the company’s business by ushering in new IT and digital innovations. Prior to his new role with Biocon, Roy has had a good five years stint at Sun Pharma and also been associated with leading global companies such as Dr Reddy’s Laboratories, HP Services amongst others. An alumnus of IIT-Kharagpur and IIM-Calcutta, he is a seasoned IT professional with global exposure working across pharmaceutical and other domains. He brings in his vast experience in conceptualising and implementing innovative technologies for driving business outcomes for building competitive mileages.

BPCL HR Director takes additional charge as CMD

K Padmakar, Director (HR) has taken over additional charge as Chairman & Managing Director (CMD) of Bharat Petroleum Corporation Limited (BPCL) following the superannuation of D Rajkumar on August 31, 2020. Bringing in over 36 years of his experience in public sector (PSU) company BPCL, Padmakar has negotiated the ‘Maharatna’ company’s entire gamut of Human Resource Management Function including policy framework, HR strategy and organisational Learning & Talent Management. He has been a director on the board since February 2018. A Fortune Global 500 Company, BPCL is one of the premier integrated energy companies in India, engaged in refining of crude oil and marketing of petroleum products, with a significant presence in the sectors of the oil and gas industry. BPCL with its coveted ‘Maharatna’ status, joins the elite club of companies that enjoys enhanced financial autonomy and other decision-making authority. Fiscal 2019-20, reported BPCL’s gross revenue from operations at INR 327,580 crores, with a net profit at INR 2,683 crores, a market sales close to 43.10 MMT and market share of 24.5 % amongst PSU oil companies.

Disney’s Uday Shankar steps down

Media stalwart Uday Shankar, President of Walt Disney Company (APAC) and Chairman, Star & Disney India, will step down to focus on his personal pursuit in entrepreneurial undertakings. The resignation will be effective from December 31, 2020. Meanwhile, Shankar will retain his position with Disney’s direct-to-consumer and international segment pending a suitable replacement for a smooth transition. Shankar believes in the power of creativity and cutting-edge technology to create a better world. In previous roles, he was President of 21st Century Fox (Asia) and the Chairman & CEO of Star India. “I think the best way to express my gratitude will be to support and mentor a new generation of entrepreneurs as they set out to create transformational solutions that will have a positive impact on countless lives. I intend to partner with global investors and pioneers to achieve this,” he said. He has had previous stints as CEO and editor of Star News, which was India’s first 24/7 news channel. He was also the editor and news director at TV Today Group, where he supervised the 2000 launch of Aaj Tak and Headlines Today, in 2003. Over the past decade, Shankar has been vital in shaping up of India’s media and entertainment sectors, ushering in reforms for the industry and its consumers. He was also the former president of Indian Broadcasting Federation (IBF), is currently senior Vice President of FICCI (Federation of Indian Chambers of Commerce and Industry) and touted to take over as its next president. Shankar led Star’s aggressive foray into regional and local language programming, transforming Star into a content powerhouse which now broadcasts more than 30,000 hours of content every year.

Khara appointed as SBI Chairman

Dinesh Kumar Khara has taken over as the Chairman of State Bank of India (SBI), replacing Rajnish Kumar, who recently completed his three-year tenure with the public sector bank. Khara is the bank’s senior-most managing director (MD) and assumes the top-most office amidst the coronavirus pandemic that has spelt disaster for the entire banking sector. Khara’s elevation follows recommendation by the Banks Board Bureau (BBB) in August 2020 from a pool of SBI’s serving MD’s including Arijit Basu, C S Shetty and Ashwani Bhatia. Khara was in the running for the top post in 2017 too. Khara, joined SBI in 1984 as a probationary officer and was instrumental in merging five associate banks and Bharatiya Mahila Bank with SBI w.e.f April 2017. He was appointed as MD in August 2016 for a three-year term, but gained a two-year extension in 2019. An alumnus of the Faculty of Management Studies, Delhi University and a Certified Associate of Indian Institute of Bankers (CAIIB), he brings in 35 years of experience across verticals of commercial banking, including retail credit, SME/corporate credit, deposit mobilisation, international banking operations and branch management. Prior to his SBI MD position, Khara served as MD and CEO of SBI Funds Management Pvt Limited (SBIMF). In other moves, SBI has appointed former EY Partner Charanjit Attra as its new chief financial officer (CFO), a rare hire from the private sector when the bank has in the past, primarily relied on its in-house talent pool of top management. Additionally, the BBB has also recommended the appointment of Swaminathan Janakiraman and Ashwini Kumar Tewari as SBI Managing Directors.

Logistics veteran and Gati founder resigns

Mahendra Kumar Agarwal, Founder and Managing Director of Hyderabad-based logistics and supply chain solutions provider Gati, has resigned from the boards of Gati, Gati-KWE, and Gati-Kausar. Agarwal, considered as a pioneer of express cargo business in India, has in the course of his over 30 years, taken the company to greater heights. However, following Allcargo Logistics’ strategic acquisition of Gati, Allcargo now holds a controlling stake in the company along with the inclusion of some of its senior leaders and board members into Gati’s board. In 2020, Allcargo had acquired a near 47% stake in Gati becoming the single largest shareholder in the company followed by KWE which holds about 3.5% stake. Agarwal had established Gati in 1989 which has been at the forefront of numerous value-added services, offering surface and air express along with first and last-mile logistics, supply chain management, and warehousing solutions for marquee customers across diverse industry sectors. Gati’s domestic network spans more than 19,800 PIN Codes across 735 of India’s 739 districts.

Mahindra Group appoints Mohit Kapoor as CTO

The Mahindra Group has appointed Mohit Kapoor as Executive Vice President and Group Chief Technology Officer (CTO) to steer the Group’s technology transformation agenda. Kapoor will also hold multiple responsibilities as the Technology Head for the financial services sector reporting to Ramesh Iyer, as Vice Chairman and MD of Mahindra & Mahindra Financial Services Ltd and as President of the Financial Services Sector. He will also be a part of the leadership team for the Group’s corporate office and Mahindra Financial Services sector. He is expected to leverage new and emerging technologies to create new business models and transforming customer experiences across the auto conglomerate. He will also report to Anish Shah, Deputy Managing Director and Group CFO, Mahindra Group. Kapoor is an electronics engineer with advanced management and professional degrees from Cornell and Georgia Tech. Formerly with the DBS Bank, he set up the Asia Hub at Hyderabad becoming DBS’s first technology development centre outside Singapore. He brings in over 29 years of technology and operations experiences having spent the previous 17 years in banking and financial services sector. He has also worked with Bank of America and MphasiS.

Saranjit Sangar to helm upGrad’s international markets

upGrad, India’s largest online higher education company has appointed Saranjit Sangar as the CEO - UK, Europe, and the Middle East, effective October 2020. She will be based out of London and is expected to drive the edtech major’s $1 billion revenue goal from these markets in the next 4-5 years. Her induction falls in line with upGrad’s mission of strengthening its international markets. She brings in her diverse experiences across multiple portfolios and geographies such as in e-commerce (Amazon, UK), last-mile logistics (Amazon, UK, and Honestbee, Singapore), cloud kitchens (Grab, Singapore) and FMCG (Godrej, India). She has been instrumental in building and scaling businesses, growing teams, and creating value for customers and partners for over a decade. Her last stint before she joined upGrad has been as Director, Grab Ventures and New Businesses at Grab, South East Asia’s pioneer in ride-hailing, on-demand deliveries and payments. She has successfully built Grab’s cloud kitchens in Thailand, Singapore while also defining the country targets, building the organisation structure and owning the entire P&L. upGrad is also in process of appointing a CEO for the Asia Pacific region in line with the company’s growth agenda to establish itself as the global leader in the lifelong learning space.

Bhan rejoins Hero MotoCorp

Industry veteran and automobile sector icon Sanjay Bhan heads back to Hero MotoCorp to helm India’s largest two-wheeler manufacturer’s global businesses. As Head of Global Business (GB), Bhan will play a key role in the rapid expansion and consolidation of the company across 40 of its transcontinental markets. He also fits into Hero MotoCorp’s current strengthening of its leadership team shaping up entry into new markets and consolidating larger overseas markets like Colombia, Nigeria and Bangladesh. A homecoming for Bhan who has spent a larger part of his career with Hero MotoCorp, building up the company’s domestic strategy post the exit of its Japanese partner Honda Motor Company in 2010. Bhan had spent over three decades across sales, after-sales, marketing and parts business at Hero in his earlier stint. He also headed the marketing role after the Honda JV came to an end and initiated the successful campaign ‘Hum Main Hai Hero’. Bhan had quit Hero MotoCorp last year as the head of domestic operations when he joined the ride-hailing firm as a chief business officer (CBO) of Ola Electric. Bhan’s exit from Ola in less than a year is a big jolt for the startup firm. Hero has strengthened its leadership teams by appointing new plant heads and elevating young in-house talent, effective December 1, 2020. Ravi Pisipaty, the head of three plants and the Global Parts Centre, was appointed the Head of Plant Operations, while Mahesh Kaikini, the Head of Gurugram plant, was appointed Chief Quality Officer. Rajat Bhargava, former Head of Strategy, Global Business and Emerging Mobility Business Unit (EMBU) has been inducted in a newly created Chief of Staff role in the office of Chairman and CEO, while Malo Le Masson, former Head of Global Product Planning, is the new Head of Strategy. Hero has appointed Param Vishist Seva Medal awardee and former Chief of the Indian Air Force - B S Dhanoa as a Non-Executive and Independent Director on its board.