C-Suite
Mission board: Women take new course of action to get 'board-ready'
Indian women are increasingly joining programs to enhance their chances of securing corporate board positions. These programs, run by academic and private organisations, offer essential skills and networking. Although women's representation on boards has grown since the Companies Act 2013, challenges in diversity and inclusion continue to persist. Specialized technological understanding is crucial for effective board decisions.
The Great CFO Shuffle: Top execs are playing financial musical chairs in India's IT sector
In the past year, the IT sector has seen notable CFO transitions, including Jatin Dalal's move from Wipro to Cognizant. Legal disputes over non-compete clauses were highlighted. Wipro, LTIMindtree, HCLTech, and Mphasis have all promoted or hired new CFOs, reflecting the competitive demand for financial leadership in the growing industry.
India Inc looks within for top bosses amid focus on succession
Nifty 50 companies have shown a preference for in-house talent, with 62% promoting internal candidates to CEO roles in the past five years. This trend is attributed to stricter regulations and enhanced succession planning by company boards to minimize the risk of losing key human capital.
Independent directors are jostling at the boarding gate
The increased visibility, responsibility and remuneration of independent directors has led to rising awareness of this strategic role in Corporate India. Besides, several factors have spurred more aspirants to sign up to be independent directors. The big 'board refresh' this year-involving stepping down of independent directors who were completing 10 years (two terms) on a company's board-was expected to make way for new faces on the boards.
CEO club with Rs 50 cr+ pay sees 2x addition
In FY24, the proportion of CEOs and managing directors at Nifty 50 companies earning over Rs 50 crore doubled from FY19, reaching 22%. This increase is notable among non-promoter CEOs, whose median pay surged by 19.6% to Rs 22.6 crore, compared to a 6.9% rise for promoter CEOs. Median CEO compensation has grown from Rs 13.1 crore in FY19 to Rs 22.6 crore in FY24.
Private bank CEOs get a small raise
Private sector bank chiefs saw modest salary hikes in FY24, reflecting the RBI's strict oversight on CEO pay. HDFC Bank’s Sashidhar Jagdishan topped the list with ₹10.77 crore, followed by ICICI’s Sandeep Bakhshi at ₹9.96 crore, and Axis Bank’s Amitabh Chaudhry at ₹9.64 crore.
Yubi Group revamps top deck, goes on a hiring spree
Yubi Group, formerly CredAvenue, is hiring extensively and promoting leaders. Bharat Krishnamurthy is now CTO of Yubi and Aspero. Other promotions include Ramesh Ramanathan as deputy CFO, Amitesh Bhattacharya as group general counsel, and Vinod Deiveegan as chief business officer of Corpository. Over 90 campus hires joined this quarter, and 2.2 million shares were added to the employee stock option plan.
Chief HR officer roles in India Inc see highest churn
One in every 10 CXOs changed jobs in the year ending June, with certain roles experiencing higher turnover than others, according to an analysis by specialist staffing firm Xpheno. The study, based on 37,000 C-suite movements, found that the roles of chief human resources officer (CHRO) saw the highest churn at 20%, followed by chief sales officers (CSOs) at 18% and chief product officers (CPOs) at 15%.
Unable to retain high-cost CXOs, companies look at 'mutual separation'
Companies are increasingly negotiating "mutual separation" agreements with top C-suite executives who are no longer aligned with new growth strategies. These exits are planned with lead times of 12-18 months in large firms, while startups also offer structured exit plans for senior talent. The agreements, kept confidential, provide negotiated packages and benefits, reassign executives from key projects, and ensure a dignified departure.
How leaders can plan the right employee experience practices
Enhancing employee experience is crucial for organizational success. Industry experts emphasize the importance of addressing employee needs, fostering open communication, and prioritizing well-being. Strategies include attracting top talent, engaging employees, and investing in continuous development.
Must Watch
New-age CEOs: India Inc's bosses adapt their qualifications to keep up with dynamic business landscape
The role of CEOs is evolving, with a shift towards more strategic thinking over traditional sales and marketing backgrounds. A recent survey highlights the importance of diverse skills in navigating complex business environments. The adoption of technologies like AI is also driving the need for strategic leadership in today's corporate world.
India Inc senior keen to book C-Suite for pros under 50
Traditional groups cap CXO age at 50. A mid-fifties candidate was overlooked. Younger CEOs/CXOs, preferred for tech adaptability post-pandemic, fit the 'sweet spot' age aiding old economy firms. Pawan Goenka noted internal grooming. Rajiv Dube favours longer terms. Young leaders, noted by Harsh Goenka and Claricent Partners, are ambitious and successful.
BFSI captives hunt for leadership talent
Executive search firms ET spoke to said candidates from product organisations are tapped for technology hiring, and for non-technical roles, domain and functional expertise remain paramount. Compensation ranges at around Rs 1 crore for those with 18-25 years of experience. For CFO roles, packages could be in the range between Rs 2-4 crores.
CEO succession planning is important. But how you go about it makes all the difference
Succession planning, including CEO succession plans and leadership pipelines, is crucial for company stability and success. Companies with robust succession plans outperform peers by 20% in revenue growth. Neglecting leadership pipelines can cost companies nearly $1 trillion annually, emphasizing the importance of effective planning.
Silver's the new gold as startups rejig CXO portfolio
Many startups, particularly those gearing up for public listing, now consider youth and experience a winning combination. Having experienced leaders instills confidence in investors and markets, who view it as an indicator of stability and potential for success, said company founders and industry watchers.
Myth debunking 101: Those with weaknesses can’t be leaders
Simon Sinek emphasizes that great leaders are honest about their weaknesses, challenging the misconception of equating leadership with strength. Leaders are expected to possess honesty, effective communication skills, and the ability to lead, while also acknowledging their weaknesses and flaws.
