The elevation of Wipro chairman Azim Premji's elder son Rishad as the vice-president (V-P) of the information technology (IT) giant is the latest in a series of sons and daughters of India Inc's promoters moving in to charge at the top.Last year, Shravin Mittal, the 23-year-old Bharti Airtel scion, had joined as manager, Bharti Airtel International- Netherlands (BAIN), the company's subsidiary.
Before being promoted as VP, Rishad Premji was chief strategy officer (CSO) at Wipro. The latest move is said to be in line with a succession plan that has long been speculated about.
However, a Wipro spokesperson said, "According to our company policy, we don't comment or make an announcement outside about our internal promotions." Rishad joined Wipro in July 2007 as business manager in the banking and finance division. In 2009, he was promoted as general manager of investor relations and was made CSO in September, 2010.
An MBA from the Harvard Business School and BA in Economics from Wesleyan University, Connecticut, Rishad worked with Bain Consulting and GE before joining Wipro.
Shravin was meanwhile instrumental in BAIN's highprofile acquisition of mobile and data services operator Zain Africa. Before joining BAIN, Shravin had worked with JP Morgan Cazenove as a technology analyst.
"Unlike earlier, business families or promoters nowadays educate the young generation and through business exposure and training make sure that they are in a position to take up bigger responsibilities," said P. Vijayakumar of the Center for Social and Organisational Leadership (CSOL) at the Tata Institute of Social Sciences (TISS).
"These young generation leaders are exposed to the interactive and structural tools that need to be used in strategic and day- today decision making," he said. Sidhartha Mallya, 23, son of liquor baron Vijay Mallya, was integrated in the UB group's top-level management at the age of 18. He has played an important role in formulating the company's marketing strategy.
Sidhartha's leadership helped UB group acquire Glasgowbased whiskey maker Whyte & Mackay in 2007. Later in 2010, Sidhartha joined United Spirits as the deputy general manager for new sales outlets.
According to brand consultant Harish Bijoor, the induction of GenNext into family-run businesses is a natural phenomenon. "They will imbibe the culture of the company better," Bijoor said.
In 2009, Roshni Nadar, daughter of HCL founder Shiv Nadar, joined her father's company as chief executive officer (CEO) at the age of 27. Prior to that she had served at the Shiv Nadar Foundation.
A one-time television producer, Roshni had studied Social Enterprise Management from Northwestern University.http://www.blogger.com/img/blank.gif
As a young entrepreneur, Pallavi Gopinath, the daughter of Captain GR Gopinath, played a key role in the launch of Air Deccan, India's first lowcost airline. Having three master's degrees — in media, literature and aerospace — she joined Deccan 360 as a management trainee in 2008.
TVS Group's managing director Venu Srinivasan's daughter Lakshmi Venu, 27, who recently got married to Infosys scion Rohan Murthy, joined as vice-president of Sundaram Clayton Ltd, the holding firm of TVS Motors. She studied economics at Yale University and has a PhD in manufacturing management from Warwick University.
Reproduced From Mail Today. Copyright 2011. All rights reserved.
Source: http://in.finance.yahoo.com/news/GenNext-gears-take-control-yahoofinancein-2362959437.html?x=0
About INgene blog : First ever Indian Youth trend Insights blog
About INgene : First ever Indian Youth trend Insights blog:
This blog explores the detailed characteristics of Young-India and explains the finer & crucial differences they have with their global peers. The blog also establishes the theory of “adopted differentiation” (Copyright Kaustav SG,2007) and how the Indian & Inglodian youth are using this as a tool to differentiate themselves from the “aam aadmi” (mass population of India) to establish their new found identity.
The term youth refers to persons who are no longer children and not yet adults. Used colloquially, however the term generally refers to a broader, more ambiguous field of reference- from the physically adolescent to those in their late twenties.
Though superficially the youth all over the world exhibits similar [degree of] attitude, [traits of] interests & [deliverance of] opinion but a detailed observation reveals the finer differential characteristics which are crucial and often ignored while targeting this group as a valued consumer base. India is one of the youngest countries in the world with 60% of its population less then 24 years of age and is charted as the most prospective destination for the retail investment in the A. T. Kearney’s Global Retail Opportunity Report, 2007. With the first ever non-socialistic generation’s thriving aspiration & new found money power combined with steadily growing GDP, bubbling IT industry and increasing list of confident young entrepreneurs, the scenario appears very lucrative for the global and local retailers to target the “Youngisthan” (young-India). But, the secret remains in the understanding of the finer AIOs of this generation. The Indian youth segment roughly estimates close to 250million (between the ages of fifteen and twenty-five) and can be broadly divided (socio-psychologically) into three categories: the Bharatiyas, the Indians & the Inglodians (copyright Kaustav SG 2008). The Bharatiyas estimating 67% of the young population lives in the rural (R1, R2 to R4 SEC) areas with least influence of globalization, high traditional values. They are least economically privileged, most family oriented Bollywood influenced generation. The Indians constitute 31.5% (A, B,C, D & E SEC) and have moderate global influence. They are well aware of the global trends but rooted to the Indian family values, customs and ethos. The Inglodians are basically the creamy layers (A1,A SEC) and marginal (1.5% or roughly three million) in number though they are strongly growing (70% growth rate). Inglodians are affluent and consume most of the trendy & luxury items. They are internet savvy & the believers of global-village (a place where there is no difference between east & west, developing & developed countries etc.), highly influenced by the western music, food, fashion & culture yet Indian at heart.
This blog explores the detailed characteristics of Young-India and explains the finer & crucial differences they have with their global peers. The blog also establishes the theory of “adopted differentiation” (Copyright Kaustav SG,2007) and how the Indian & Inglodian youth are using this as a tool to differentiate themselves from the “aam aadmi” (mass population of India) to establish their new found identity.
The term youth refers to persons who are no longer children and not yet adults. Used colloquially, however the term generally refers to a broader, more ambiguous field of reference- from the physically adolescent to those in their late twenties.
Though superficially the youth all over the world exhibits similar [degree of] attitude, [traits of] interests & [deliverance of] opinion but a detailed observation reveals the finer differential characteristics which are crucial and often ignored while targeting this group as a valued consumer base. India is one of the youngest countries in the world with 60% of its population less then 24 years of age and is charted as the most prospective destination for the retail investment in the A. T. Kearney’s Global Retail Opportunity Report, 2007. With the first ever non-socialistic generation’s thriving aspiration & new found money power combined with steadily growing GDP, bubbling IT industry and increasing list of confident young entrepreneurs, the scenario appears very lucrative for the global and local retailers to target the “Youngisthan” (young-India). But, the secret remains in the understanding of the finer AIOs of this generation. The Indian youth segment roughly estimates close to 250million (between the ages of fifteen and twenty-five) and can be broadly divided (socio-psychologically) into three categories: the Bharatiyas, the Indians & the Inglodians (copyright Kaustav SG 2008). The Bharatiyas estimating 67% of the young population lives in the rural (R1, R2 to R4 SEC) areas with least influence of globalization, high traditional values. They are least economically privileged, most family oriented Bollywood influenced generation. The Indians constitute 31.5% (A, B,C, D & E SEC) and have moderate global influence. They are well aware of the global trends but rooted to the Indian family values, customs and ethos. The Inglodians are basically the creamy layers (A1,A SEC) and marginal (1.5% or roughly three million) in number though they are strongly growing (70% growth rate). Inglodians are affluent and consume most of the trendy & luxury items. They are internet savvy & the believers of global-village (a place where there is no difference between east & west, developing & developed countries etc.), highly influenced by the western music, food, fashion & culture yet Indian at heart.
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