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8 Indians among world's best performing CEOs
In yet another sign of rising Indian dominance in the global business arena, eight corporate bigwigs from the country have made it to the list of the world’s 100 best chief executive officers.
The list, compiled by Harvard Business Review (HBR), is led by former Apple chief Steve Jobs, who passed away on October 5, 2011. Amazon’s Jeffrey Bezos takes the second position while Samsung’s Yun Jong-Yong is ranked third in the list.
Among the top 10 leaders globally, Y. C Deveshwar of ITC (ranked 7) is the only Indian CEO.
The list ranks the honchos not only on the financial performance but also on their achievements in terms of corporate social responsibility.
Here are the eight Indians who have made to the list of top 100 best-performing CEOs in the world.
Y. C. Deveshwar
Global rank: 7
Company: ITC
Tenure: 1996 – Present
Industry: Consumer Goods
Total Shareholder’s return (country-adjusted): 3,308 per cent
Total Shareholder’s return (industry-adjusted): 1,574 per cent
Market capitalisation change ($ billion): 45
The 66-year old Yogesh Chander Deveshwar joined ITC in 1968 and became the CEO and chairman of the board in 1996. He is an alumnus of the Indian Institute of Technology, Delhi and Harvard Business School.
He has also led Air India as Chairman and Managing Director between 1991 and 1994.
In 2011, Deveshwar was conferred the Padma Bhushan, one of the highest civilian awards in the country, by the Government of India.
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8 Indians among world's best performing CEOs
Subir Raha
Global rank: 13
Company: Oil & Natural Gas Corporation
Tenure: 2001 – 2006
Industry: Energy
Total Shareholder’s return (country-adjusted): 729 per cent
Total Shareholder’s return (industry-adjusted): 915 per cent
Market capitalisation change ($ billion): 57
Under his leadership, ONGC was dramatically transformed from a sectoral exploration and production (E&P) company to an Integrated Energy Major on global scale.
While at the helm, Raha focussed on aggressive investments in intellectual and physical assets, redevelopment of ageing fields, smart management of costs, taxes and funds, proactive acquisition of hydrocarbon reserves in India and overseas.
An MBA from University of Leeds, Raha was an outstanding student all through his student life. He passed away in February 2010 of lung cancer.
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8 Indians among world's best performing CEOs
Mukesh Ambani
Global rank: 28
Company: Reliance Industries
Tenure: 2002 – present
Industry: Energy
Total Shareholder’s return (country-adjusted): 565 per cent
Total Shareholder’s return (indsutry-adjusted): 745 per cent
Market capitalisation change ($ billion): 41
With a net worth of $21.5 billion, Mukesh Ambani is the world’s richest Indian and also India’s most powerful CEO.
Mukesh started his career in Reliance at a young age of 24, heading a slew of new initiatives.
Living up to the expectations of his father, Dhirubhai Ambani, he played a key Reliance's backward integration journey from textiles into polyester fibres and further into petrochemicals, petroleum refining and going up-stream into oil and gas exploration and production.
Currently, Reliance Industries is one of the most valuable company in the country.
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8 Indians among world's best performing CEOs
A. M. Naik
Global rank: 32
Company: Larsen & Toubro
Tenure: 1999 - 2012
Industry: Industrials
Total Shareholder’s return (country-adjusted): 3,154 per cent
Total Shareholder’s return (industry-adjusted): 2,728 per cent
Market capitalisation change ($ billion): 16
He had joined L&T in 1965 as a junior engineer and 34 years later he became the MD & CEO of the company. Currently, he is the chairman.
He successfully led the Company through some of its most challenging times and enabled it to emerge stronger. Today, L&T is a well diversified conglomerate with interest in IT, insurance, and other financial services.
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8 Indians among world's best performing CEOs
A. K. Puri
Global rank: 38
Company: Bharat Heavy Electricals
Tenure: 2004 - 2008
Industry: Industrials
Total Shareholder’s return (country-adjusted): 471 per cent
Total Shareholder’s return (industry-adjusted): 664 per cent
Market capitalisation change ($ billion): 30
An Electrical Engineer and MBA in Marketing & Finance from Delhi University, he joined BHEL in 1976 after a brief stint in the private sector. Before rising to the helm, Puri worked in all the major divisions of the company.
Currently, he is the MD of Hinduja National Power Corporation Limited.
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8 Indians among world's best performing CEOs
Sunil Bharti Mittal
Global rank: 65
Company: Bharti Airtel Limited
Tenure: 1995 - present
Industry: Telecommunication
Total Shareholder’s return (country-adjusted): 562 per cent
Total Shareholder’s return (industry-adjusted): 737 per cent
Market capitalisation change ($ billion): 16
Telecom king Sunil Bharti Mittal has an inspiring success story. He started building his business fortune at a young age of 18.
A born entrepreneur, Mittal started his first business in April 1976, with Rs 20,000 borrowed from his father.
He moved on creating one successful business after the other until he incorporate Bharti Telecom Limited in 1990s to assemble push-button phones in India.
When government auctioned airwaves for mobile telephone, he was among the first companies to grab the opportunity.
Under his leadership, Bharti Enterprises has emerged as one of India’s leading business groups with interests in telecom, retail, realty, financial services and agri-products.
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8 Indians among world's best performing CEOs
Naveen Jindal
Global rank: 87
Company: Jindal Steel & Power
Tenure: 1998 - present
Industry: Materials
Total Shareholder’s return (country-adjusted): 7,315 per cent
Total Shareholder’s return (industry-adjusted): 5,704 per cent
Market capitalisation change ($ billion): 7
The company (earlier known as Jindal Strips Limited) was a moderately performing enterprise when Naveen Jindal first took over its Raigarh and Raipur operations in 1993.
Today, JSPL operates the world’s largest coal-based sponge iron manufacturing plant in Raigarh, Chhattisgarh, and plants in Jharkhand and Odisha.
The company has set up captive power plants using waste products from the sponge iron making process to generate power.
He is also the highest paid executive in the country with a package of Rs 73.42 crore (Rs 734.2 million) for fiscal 2011 - 12.
JSPL is a part of the $18 billion diversified O.P. Jindal Group, which is the fourth largest business entity in India.
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8 Indians among world's best performing CEOs
V. S. Jain
Global rank: 89
Company: Steel Authority of India
Tenure: 2002 - 2006
Industry: Materials
Total Shareholder’s return (country-adjusted): 788 per cent
Total Shareholder’s return (industry-adjusted): 843 per cent
Market capitalisation change ($ billion): 10
A finance man through out his career, Jain joined SAIL in 1996 as the director (finance) after a long 25 years stint in Indian Oil Corporation (IOC).
He is also a chartered accountant, a cost accountant and a gold medalist in management accounting.