Ratan Tata tops the list as India's most powerful CEO in 2012. He chairs Tata Sons and

1. www.mimts.org
The Economic Times
Presents
India Inc's most powerful CEOs
2012

2. Ratan Tata
Rank-1
Chairman, Tata Sons
Also known as: India's 'most eligible bachelor', even at 75
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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3. 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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4. 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 multi-
billion 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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5. 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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6. 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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7. 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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8. 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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9. Rank-8
Anand G Mahindra
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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10. 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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11. 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 second-
largest 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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12. 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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13. Methodology…Contd.
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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14. Methodology…Contd.
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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15. Methodology…Contd.
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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16. Methodology…Contd.
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 survey-
instrument, which could be self-administered or administered
face-to-face by seasoned interviewers.
The survey-instrument captured inputs on the respondent's CEO-
associations 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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17. 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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18. Process…Contd.
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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19. Process…Contd.
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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20. Suvendu Kr. Pratihari
Assistant Professor – Marketing
Mahendra Institute of Management and Technical
Studies
Bhubaneswar
Odisha, India
+91 933 777 3456
spratihari@mimts.org
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