Honchos on the move
Lured by fat salaries and exciting career opportunities, many top executives in corporate India are shifting jobsindia Updated: Apr 06, 2006 12:16 IST
India Inc is witnessing yet another round of churning at the top. Lured by fat salaries and exciting career opportunities, many top executives in corporate India are shifting jobs. This time around, many executives are exploring opportunities in sunrise sectors like retail and private equity funds.
Rajiv Kaul, Senior Director at Microsoft’s Redmond headquarters quit the company on Wednesday and currently is in the process of joining UK-based private equity investor Actis’ London office as partner. Kaul, who was also the managing director of Microsoft’s India operations, will be responsible for deriving synergies between India, China and South East Asia.
N Sridhar, CFO at FMCG major Britannia Industries, quit on Wednesday. The buzz is that Sridhar, a former Coke executive, is planning to take up an important assignment in a Chennai-based retail chain, which is aggressively expanding operations in the west and the north.
Pradeep Mansukhani has recently quit as CEO (sales) of FMCG major Marico to join as the COO of UKbased Moorjani group’s Indian operations. He will implement the retail expansion plans of Moorjani group, which is planning to bring in global brands like Gucci into India.
Recently, Foster’s India head Pradeep Gidwani quit to join Red Bull in Dubai.
And the automobile industry has seen the exit of high-profile executives like Hyundai’s BVR Subbu.
Mohit Bhatnagar, a senior executive with Bharti Telecom, is tipped to join private equity firm Westbridge. Kotak Mahindra group has recently hired Citi group executive Vikram Sud to head its technology department.
The financial sector has seen a number of high profile appointments recently. Bharti-Axa insurance joint venture is understood to have hired a top executive from ABN Amro. “Top-level movements are gaining momentum. This is mainly due to the fact that sunrise sectors offer bigger challenges,” said Toral Patel, a Mumbai-based HR consultant.
HR consultants opine that Mukesh Ambani-led RIL’s plan to hire executives for its retail venture has set new salary benchmarks.
RIL has roped in many top talents from rival industry by offering attractive pay packets. “We are on a hiring spree for our expansion in India. We constantly face the problem of finding talent,” said Vijay Moorjani, director, Moorjani group.