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The Economic Times Presents

India Inc's most powerful CEOs 2012

Ratan Tata Chairman, Tata Sons

Also known as: India's 'most eligible bachelor', even at 75

Rank-1

Theatre of Operations: IT, Communications, Engineering, Materials, Chemicals, Services, Consumer Products, Energy - all with global footprints Did you know that: Upon graduating, he turned down an offer from IBM on the advice of JRD Tata Started his career with: Tata Steel, on the shopfloor Leadership style: Aloof and understated, but always on the ball Favourite Allies: His German Shepherds Famous Quote: "I don't believe in taking right decisions. I take decisions and then make them right" Thorn in his side: His connection with the 2G spectrum scam If he weren't leading a $71 billion conglomerate, he'd be: Flying planes Family: Brother Jimmy, half-brother Noel and three half-sisters

Latest project: Pouring $15 million into a project researching water as fuel
Exit Strategy: Cyrus Pallonji Mistry will take charge from December 2012 Farewell Note: This will be RNT's last appearance on CD's 'Most Powerful CEO' list

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Rank-2
Mukesh D. Ambani

Chairman & Managing Director, Reliance Industries

Theatre of Operations: Petroleum, petrochemicals, textiles and retail Bragging rights: The second-richest man in Asia, he heads the largest Indian private sector conglomerate. Also, owner of the second-richest sports club in the world (Mumbai Indians), according to Forbes It's in his genes: Thinks scale, like his father, the late Dhirubhai Ambani Started his career with: Reliance Industries (RIL) Leadership style: Relationship-based, entrepreneurial Family: Husband to Nita, father to Akash, Anant and Isha Famous Quote: "The organisational architecture is really that a centipede walks on hundred legs and one or two don't count. So if I lose one or two legs, the process will go on, the organisation will go on, the growth will go on. Thorn In His Side: Several big-ticket RIL proposals are stuck at the petroleum ministry helmed by S Jaipal Reddy Cool Friend: Anand Jain Big indulgence: Antilia, the $2billion home he's built on Altamount Road, Mumbai

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Kumar Mangalam Birla

Rank-3

Chairman, Aditya Birla Group

Theatre of Operations: At 43, the Chairman of the $35 billion Aditya Birla Group, has his hands full with a business that traverses almost every sector from retail to financial services and brands such as Hindalco, Ultratech Cement and Idea Cellular in his quiver First Steps: Scion of the Birla family, he took over as Chairman of the group after the sudden demise of his father, Aditya Birla, in 1995 Bugbear: Telecom Regulatory Authority of India's (TRAI) recommendations on the auction of 2G radio waves. He holds that at the base price recommended by TRAI, it did not make sense for anyone to participate in the bids Bragging Rights: At 28, he became the youngest Indian to chair a multibillion dollar conglomerate and has successfully steered the highly diversified AV Birla ship through thick and thin Power Buddies: Ratan Tata, Sanjeev Goenka Famous Quote: "Tough times don't last, tough people do" Preferred Gulp: Diet Coke Little Known Fact: He learnt how to shoot with a rifle three years ago and is now shooting with the camera When not working: Family and movies

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Azim Hashim Premji

Rank-4

Chairman, Wipro

Started his career with: Wipro, whose reins he took after dropping out of Stanford at 21, following the sudden demise of his father (he completed his degree over 30 years later). At that time, Wipro made hydrogenated cooking fat. Famous quote: "As you get bigger, you have to delegate. It's also an excellent way to get staff involved in the company's operations. "

Big bet that didn't pay: Three years after appointing two CEOs to navigate Wipro, the duo was suddenly removed and replaced.
Bet that might pay: All recent announcements are headlined by his son and chief strategy officer Rishad Premji, signaling a possible powershift Icon: JRD Tata Act of do-goodery: Transferred 8.6% of his stake in the company worth about Rs 8,646 crore to theAzim Premji Foundation. This is the biggest act of individual philanthropy in India Leadership style: Knows every small detail of his businesses, but does not interfere with everyday operations of the various independent business heads Family ties: Husband to Yasmeen, father to Rishad and Tariq

Bugbear: The blatant rise in corruption in India. Premji was a signatory to an open letter to Indian leaders questioning the current state of affairs
Little known fact: Wipro is the second-largest hydraulic cylinder company in the world When not working: Enjoys trekking and loves watching movies; he often turns to his senior executives for recommendations Recent Accolade: Was awarded the Padma Vibhushan in 2011

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Rank-5
Chanda Kochhar

Managing Director & Chief Executive Officer, ICICI Bank

Started her career with: ICICI Bank, straight out of B-school Bragging Rights: A regular fixture on Global 'Most Powerful Women' lists since 2005 Bugbear: HDFC overtaking ICICI as the valued private bank in India Accolade: Conferred the Padma Bhushan in 2010 Leadership Style: Meticulous, demands excellence

Famous Quote: "Demands do not go up or down - they are constantly there. Often, you feel you are doing too much."
As a child: Wanted to be an IAS Officer Little known fact: Used to read the Satyanarayan Katha everyday. Now reads it fortnightly because of time constraints. Stressbuster: The latest Hindi movies with the family. Family ties: Husband Deepak, children Aarti and Arjun

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Rank-6
Deepak Parekh

Chairman, HDFC
Theatre of Operations: India's leading home finance company First Job: Ernst & Young, New York

Accolade: Padma Bhushan awardee in 2006

Bugbear: The delayed infrastructure development in the country Personal Icons: Warren Buffet, Peter Drucker Activism: Has been a vocal critic of the government, writing two open letters on the governance deficit and policy paralysis in the past year itself Famous Quote: "You can't manufacture culture. Culture builds in an organisation over a period of time. And the tone at the top must be integrity and value systems."

Bitten By: Chocolate-covered biscuits

Stressbuster: Hindi music, bridge and Wimbledon Little known fact: Hosts one of Mumbai's best-attended Christmas brunches

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AM Naik

Rank-7

Chairman & Managing Director, Larsen & Toubro

Theatre of Operations: A $11billion engineering and construction powerhouse that covers everything from nuclear power to switchgears First Job: Nestor Boilers Role model: His father, a freedom fighter and schoolteacher Leadership Style: Works hard and expects everyone else to do so. Will not tolerate mediocrity Big Transition: Steps away from active management to overseeing long-term strategic initiatives Advocates: Meritocracy over seniority Diplomatic Coup: Honorary Consul General for Denmark Workaholic: Never took a day off for the first 21 years of his career Life outside L&T: Expanding his old school in Kharel, Gujarat. Been appointed director of IIM-A Hidden talent: Is a skilled artist Famous Quote: "L&T is my hobby, the rest is work." Guilty pleasure: Desserts

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Anand G Mahindra

Rank-8

Vice Chairman & Managing Director, Mahindra Group

Theatre of Operations: A $12.5 billion conglomerate spanning auto, IT and timeshare resorts First Love: Mahindra majored in films and photography before getting his MBA from Harvard Bragging Rights: Turning around the scam-hit Satyam Computers after acquiring it three years ago Rocky Road: The company has had a less than successful track record with joint ventures over the years

Culturally Connect: Behind India's first Blues Festival and actively promotes theatre and sports as well
Famous Quote: There is a degree of freedom that creates aspiration Social Connect: One of India Inc's most active CEOs on Twitter, with close to 5 lakh followers Notable Firsts: Mahindra Racing is the first Indian team to participate in the MotoGP Most likely to be seen: Training for the Mumbai marathon or indulging in his new hobby, sailing

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Adi Godrej

Rank-9

Chairman, Godrej Group

Theatre of Operations: Has a footprint in almost all emerging economies Green Thumb: Developed a green business campus in Vikhroli, Mumbai covering 150 acres of mangroves. Set up the Soonabai Pirojsha Godrej Marine Ecology Center Cool Toys: A 60-foot Ferretti yacht Travel bug: Has been to over 70 countries and will try and fit in extensive sightseeing even if he's on a work trip On weekends: Can be seen jet skiing or indulging in water sports with his grandchildren Powerful Friends: Anil Ambani Act of do-goodery: Key supporter of the World Wildlife Fund in India; also involved with several philanthropic activities Bugbear: The snail's pace at which reforms are progressing. Hopes to bring about some change as CII President this year On CSR: "It is giving back to society and helping society get better so that your business ultimately flourishes even better in the long term." Family Ties: Wife Parmeshwar, children Tanya, Nisa and Pirojsha, two grandkids

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Kundapur Vaman Kamath

Rank-10

Chairman, Infosys Ltd. & non-executive Chairman of ICICI Bank

Theatre of Operations: KV Kamath wears many hats - Chairman of Infosys, the secondlargest IT services company in India; non-executive Chairman of ICICI Bank, India's largest private bank where he served as MD and CEO from 1996 to 2009; also, independent director of Houston-based oil services company Schlumberger Started his career with: In 1971 with ICICI in the Project Finance division and moved on to different departments to gather rich and varied experience, which included setting up of new businesses, such as leasing, venture capital, credit rating as well as handling general management positions Bugbear: For several quarters in a row, Infosys' sequential sales and operating profit growth have lagged its rivals, including Tata Consultancy Services, Cognizant and HCL Technologies Bragging Rights: In less than ten years, KV Kamath has built so much trust around ICICI Bank that a large number of respondents in sundry banking-related surveys mistake it for a public sector undertaking. Besides, KVK is known as a mentor par excellence having groomed the likes of the current MD & CEO of ICICI Bank Chanda Kocchar, MD & CEO of Axis Bank Shikha Sharma, CEO of JP Morgan India Kalpana Morparia, MD of Future Capital V Vaidyanathan and a host of others Power Buddies: Mukesh Ambani, NR Narayana Murty Famous Quote: "To build a successful business, you have to be able to pick entrepreneurs very early and get them embedded into the business. They need to go out into the ecosystem, demonstrate their abilities, nurture the business and build it up" Family Ties: Husband to Rajalaxmi; father to son Ajay and daughter Ajnya; grandfather to Nandan K Pai and Lakshman K Pai Preferred Gulp: The occasional single malt

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Methodology
The Economic Times, in partnership with IMRB International, has been conducting comprehensive surveys to ascertain the 'Most Powerful CEOs' of India, for the past few years. The survey has endeavored to identify the business leaders who are well-recognised by people for their efforts in shaping Corporate India.

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MethodologyContd.
The survey was conducted through a five step process: Collating the list of CEOs across sectors Setting evaluation parameters Calculating the parameter-scores Free association & rating of CEOs on each evaluation parameter Ranking of CEOs at an overall level

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MethodologyContd.
The team at IMRB International was provided with a list of CEOs, collated mainly from this year's ET 500 rankings as well as previous years' rankings of 'Most Powerful CEOs' with relevant additions and removals in line with the current corporate scenario. The aim was to arrive at a final short-list of top 100 CEOs to be crowned as the 'Most Powerful CEOs' of corporate India for the current year.

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MethodologyContd.
The CEOs were then evaluated by corporate people in senior/middle management roles on six important parameters: Leadership Strategy & Innovation Performance Stature Social Contribution/ Sustainability Governance.

The respondents were from large companies selected by referring to databases like the ET-500. The respondents were requested to participate through an invite from The Economic Times.
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MethodologyContd.
The corporate respondents were divided into sector-wise panels, and each panel was invited to share their feedback on CEOs from their sector. In order to control respondent bias, we discounted the respondent's opinions on his/ her own company's CEO. The respondents were asked for their inputs using a small surveyinstrument, which could be self-administered or administered face-to-face by seasoned interviewers. The survey-instrument captured inputs on the respondent's CEOassociations across each parameter. The respondents were also invited to add one CEO (to the list) that he/she considers as most powerful. This ensured that the opinion of the respondent was not restricted to the given list of CEO's.
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Process
The respondents were first asked to allocate points to the six parameters, which would add up to a total of 100. The points were allocated on the basis of importance of each attribute as per their opinion.

This helped us to arrive at the sector-wise and overall parameters-weights which were used in the final analysis. For deriving the weights we considered only those scores which were obtained from management respondents belonging to the senior corporate profiles, like the Vice President, Asst. Vice President, General Manager and the like.
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ProcessContd.
After determining the parameter-scores, we checked for the respondent's familiarity with each of the CEOs given in their specific survey-instrument. For CEOs the respondent was adequately familiar with, opinion on each parameter was captured using the 'free association method' followed by a rating on a 3-point association-scale. In this, respondents were given a parameter and were then requested to mention which of the CEOs in the list they associate that parameter with. The respondents had the freedom to associate as many CEOs that they felt could be associated.
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ProcessContd.
Once they have associated the CEOs for that particular parameter, they are then asked to rate each CEO on a scale of 1 to 3, wherein 1 signifies a weak association, 2 signifies a moderate association and 3 signifies a strong association. Then for each CEO a composite score was calculated at a respondent level. Across respondents, the sum of these composite scores gave us the power score for the respective CEO. The higher the power score, the higher the rank assigned to the CEO.

Finally, we obtained a cross-sector ranking of the CEOs. For this, we indexed the scores for the CEOs across sectors and thereby obtained the master list of top 100 CEOs.
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Suvendu Kr. Pratihari Assistant Professor Marketing Mahendra Institute of Management and Technical Studies Bhubaneswar Odisha, India +91 933 777 3456 spratihari@mimts.org www.mimts.org