From turning around an ailing auto component firm in Germany to spearheading innovation solutions at auto parts maker Motherson Sumi, Laksh Vaaman Sehgal is fast stepping out of the shadow of his illustrious billionaire father
Few in the corporate world would have been initiated into a family business quite like Laksh Vaaman Sehgal was. Let’s call it baptism by fire.
It happened in June 2009. The top brass of Samvardhana Motherson Group (SMG) had gathered at the Noida headquarters for a strategy review meeting to discuss a massively ailing UK-based firm Visiocorp, which it had just acquired. (Visiocorp, which made rear-view mirrors for cars, was renamed Samvardhana Motherson Reflectec or SMR, after the acquisition was completed in March 2009.) The UK-based company’s losses were so sharp that they had pushed the flagship firm Motherson Sumi Systems Ltd (MSSL) into a loss for the June-end quarter.
Chairman and group co-founder Vivek Chaand Sehgal suddenly pointed to his son Laksh Vaaman, then just 26, and said: “You will be the new CEO of the [ailing] company.”
“When he pointed towards me, I actually looked back to see if someone was standing behind me,” Laksh recalls while speaking to Forbes India, after the FY17 financial results of MSSL were announced in May 2017. (The company has shown a growth am of 15 percent over the previous year to notch consolidated revenues of ₹41,985 crore, with profit of ₹1,554 crore, up by 20 percent from FY16.)
This announcement, made without Laksh’s knowledge, was his father’s way of initiating his son into the business. But Laksh was apprehensive about leading a firm, let alone with the charge of having to pull it out of the sick bay. The total capital invested in SMR at the time of acquisition was €30 million; MSSL held a 51 percent stake in SMR while a group firm, Samvardhana Motherson Finance Limited, held the balance.
この記事は Forbes India の July 7, 2017 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Forbes India の July 7, 2017 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
Home-Cooked Meal Is Now Greatly Valued
The pandemic has also brought with it an improved focus on hygiene, use of technology in dining, rise of cloud kitchens and resurgence in popularity of Indian ingredients
Paytm 3.0 - Reaching Near Breakeven In Two Years
As of 2020, Vijay Shekhar Sharma’s super app for financial services had run up losses in thousands of crores. Now, as digital payments gets yet another boost courtesy Covid-19, he’s hopeful of reaching near breakeven in two years
THE PANDEMIC HAS CAUSED WOMEN GREATER LABOUR PAIN
Covid-19 has shown that women are more likely to face the brunt of job losses than men, and find fewer opportunities when they want to resume. That apart, several have to deal with increased hours of unpaid work at home and even domestic abuse
LEADERSHIP WILL BE ABOUT SEEING THE BIGGER PICTURE
Leaders must not only guard their teams first during a crisis, but also deal with stakeholders with respect and dignity. And apart from pursuing business goals, they should remain committed to our planet and the environment
PHILANTHROPY SHOULD BE HUMBLE, BUT NOT MODEST
Apart from building a flexible and resilient framework for the future, philanthropists, civil society and the government must work in tandem so that every rupee is absorbed on the ground
INTEGRATED HEALTH CARE, TECH WILL DISRUPT SECTOR
While clinical research will get a boost, having a skilled workforce and public spending on health care will be challenges in the near term
DIGITALISATION WILL HELP IN VALUE CREATION
As the pandemic brings technology and innovation to the core of business and daily life, the next decade will see about 150 million digital-first families in India
Industry 4.0: Climate Revolution?
Augmenting sustainability alongside digital capabilities is an economic, competitive and global opportunity for India’s businesses, but regulations need to reflect intent
EV Dream Still Miles Away
Electric vehicles have remained a buzzword in India for years. But not much has moved on ground due to high upfront costs, range anxiety and charging infrastructure
Living Waters
A virus has caused us to scramble for oxygen but our chokehold on the environment is slowly strangling the very waters that breathe life into us. The virus is a timely reminder: We are merely consumers, not producers of life’s breath on this planet
