New Delhi: As the wind of change blows, 2013 is turning out to be the year of passing of the baton with old guard of corporate India — PRS Oberoi of the Oberoi group, C P Krishnan Nair of the Leela and YK Hamied of Cipla — stepping aside from active involvement in the running of respective businesses for the next leadership to play a bigger role.
It started with patriarch of the Oberoi group, PRS Oberoi (84) handing over the overall management responsibility and authority of EIH Ltd to S.S. Mukherji, who was redesignated as “vice-chairman and CEO”.
EIH Ltd runs hospitality chain under the Oberoi and Trident brands. Mr Oberoi in his new role as the ‘executive chairman’ will look after the renovations of existing hotels and development of future projects, the hospitality chain said.
Similarly, last week pharma major Cipla had also said that after a stint of 52 years in the company, Y.K. Hamied (76) has decided to retire as MD on March 31, 2013. He, however, continue to be the non-executive chairman. His brother M.K. Hamied, at joint MD, will be the only managing director.
Hotel Leelaventure too charted out its transition.
The grand old man of Indian hospitality industry, C.P. Krishnan Nair (91) also stepped down as the chairman of Hotel Leelaventure.
He will, however, remain the “chairman emeritus”.
Nair will be succeeded by his eldest son Vivek Nair, who has been elevated by the company’s board to be the CMD.