Transformation may hold key for the Tata Group, which has seen a change at the helm after 21 years. From heading companies at the Shapoorji Pallonji Group ($2.5 billion) that has only one listed company and relatively less public interface, Cyrus P Mistry, 44, (in pic) took over as the chairman of Tata Sons on December 28.
“He is capable, young and has familiarity of the group. I have seen him grow over the last 10-15 years... He was very much a part of the overseas growth plans of Tata Group and overseas growth has really happened in the last six years,” HDFC chairman Deepak Parekh had said after the announcement of Mistry’s elevation to the top job in 2011.
The man waiting in the wings at Wipro, the only family driven tech company in India — the top two firms, TCS and Infosys, are run by professionals — is Rishad Premji, 34, (in pic) the older son of Azim Hasham Premji, chairman and majority owner of Wipro.
Rishad joined Wipro Technologies in 2007 but his big move came last year when he took over as its chief strategy officer. If company circles are to be believed, he is set for a promotion — this time he might get into the board. Premji Sr. owns 78.3 per cent of the stake in the company which has a market value of Rs 95,000 crore. The company will need Rishad’s strategies to tide over outsourcing issues and the slowdown in the US and European markets. Rishad’s younger brother Tariq, 32, works at the Azim Premji Foundation, who is quite active in the field of education.
The company has been on the look out for a new head.
In March the company reposed its faith in a 67-year-old, L&T old timer
K Venkataramanan to succeed AM Naik (in pic) as the MD and CEO, but that comes as short- term solution as he will retire in three years. L&T announced the bifurcation of chairman and MD into two positions in 2012 and Naik will continue to be the chairman of the group for the next five years till he turns 75.
The 274-year old Wadia group is witnessing a quiet change. Jeh Wadia (in pic), the younger son of the group chairman Nusli Wadia, is set to head the group. This means Jeh, who is named after legendary JRD Tata, will control Britannia and