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HindustanTimes Fri,19 Sep 2014

When controversies were top newsmakers

PTI  New Delhi, January 01, 2012
First Published: 12:10 IST(1/1/2012) | Last Updated: 12:24 IST(1/1/2012)

Ignominious exits, irreparable losses and avoidable controversies pushed the likes of Radias, Jobs and Murdochs hitting headlines this year, while succession plans saw Mistrys and Jains hogging the limelight.

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At least four India-origin executives -- Deutsche Bank's Anshu Jain, S&P's Deven Sharma, Berkshire Hathaway's Ajit Jain and former McKinsey honcho Rajat Gupta -- were in the news for either right or wrong reasons.

The year also saw news becoming bigger than newsmakers, when terms like 'Policy Paralysis' within the country and 'Occupy' movements across the world grabbed headlines.

In contrast, the collapse of entities like US-based MF Global and Europe's banking major Dexia did not create much flutters, but added to the global economic jitters.

Not just the corporate world, but the policymakers too sometimes found themselves to be subjects of criticism.

Bringing an end to the country's long-awaited succession story, Tatas chose Cyrus Mistry as the new group chief after incumbent Ratan Tata hangs his boots in December, 2012.

Technocrat N R Narayana Murthy, a key personality in carving out the Indian IT industry, stepped down as Infosys Chairman in August. The chairmanship is now with veteran and well known banker K V Kamath.

Meanwhile, Deutsche Bank has zeroed in on Anshu Jain --presently the Head of the Corporate & Investment Bank -- to be the next Co-CEO of the German banking major.

Warren Buffett's maiden India visit boosted speculations that his close India-origin executive Ajit Jain could take over the reins of sprawling conglomerate Berkshire Hathaway after the retirement of the billionaire investor.

On the other hand, India-origin president of Standard & Poor's Deven Sharma put in his papers in August, just weeks after the agency under his leadership stripped the American economy of its coveted 'AAA' rating.


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