Banga set to join global PE firm
M.S. “Vindi” Banga, former president and executive board member of consumer goods giant Unilever, will join global private equity firm Clayton, Dubilier and Rice LLC (CDR) as an operating partner.business Updated: Jun 24, 2010 23:30 IST
M.S. “Vindi” Banga, former president and executive board member of consumer goods giant Unilever, will join global private equity firm Clayton, Dubilier and Rice LLC (CDR) as an operating partner.
Banga, 55, will join operating partners such as Fred Kindle, the former boss of ABB, and special partners including Jack Welch, General Electric’s former head, and A.G. Lafley, former chairman of Proctor & Gamble.
CDR is based in London and New York.
As an operating partner Banga would play a key role in the investment opportunities across the firm’s portfolio.
“Private equity offers the opportunity of looking at the total canvas of opportunities across multiple sectors,” Banga told Hindustan Times on phone from London.
In his 33-year career at Unilever, Banga was responsible for a number of business units and operational improvement initiatives.
“My experience is in business transformation and CDR offers me the right opportunity for that,” said Banga.
“Vindi has proven to be an inspired and energetic leader driving both growth and operational efficiency enhancements at a wide range of consumer products-related business, as well as effectively managing retail channels and large businesses in developing countries,” Donald J Gogel, the CEO of CDR, said.
Banga, a member of Prime Minister Manmohan Singh's Council of Trade and Industry since 2004, has also served as chairman of Hindustan Unilever Limited (HUL), Unilever's Indian arm.
“I am very much an Indian at heart, but I like global challenges,” Banga said.