Page 11 - Seniors Today - July 2021 Issue
P. 11
A: It was tough. When the decision
happened about five or six years back,
it was very tough from different angles
because I was involved full-time. So
anxieties about what will I do if I’m not
a part of the company, to how will I take
care of the expectations of my children, my
family it has been tough but it has been
worth it.
I think we were one of the pioneers in this
space. Some companies have done it, but Discussing ins and outs with colleagues in the early days
under different circumstances. Companies Q: But aren’t the personal and
like Dabur and Pidilite have done it but professional aspirations of members of
because there are multiple family members your family also a factor? For instance,
involved in the management and then you mentioned about your son and your
there would be a conflict who should be the investment office and all that. Doesn’t
leader. In my case, I was the only person the next generation have aspirations to
from the family, there’s nobody else. So it helm your business, as in other business
had to be done voluntarily. There are no families?
other pressures like other family members, A: It’s tricky. I always use this thumbrule
which made it happen. I mean, the current that what is good for the organisation
MD came to me and he’s been with me for should come first in any decision. If there
the last 15 years. So he came to me saying is a conflict between the organisation’s
that I like working for you, but if you are interest and say the family’s or employee
going to be treating this like a typically interest, I think the organisation’s interest
family-managed company, that means I will should come first. For example, if there
not have any chance of becoming the head is a very good employee who has done
of the company and my dream, my ambition extremely well for the first 10 years, and
is to do that. So, you tell me if you do not then, he starts becoming less effective. The
then I am getting some offers, I will leave. tendency in many companies is to retain
I’m glad he talked to me, and then I him, we are here to be loyal to him. I have a
put it to the Board. I have a completely different viewpoint: If he is not good for the
professional board. We discussed and company, he should be asked to go. Because
decided it’s better that we retain him, it’s if you’re a weak link in your company, then
better that I exit my full-time wife, the it rubs off on the other capable performers.
company. I will be involved but I will not And others will say it’s not fair, you’re
be managing it on a day-to-day basis. I will tolerating some non-performers, we are
be involved in certain decisions relating performing. So it’s better to have very good
to people. If there are some acquisitions, performers all the time.
I will get involved, I will have a review
meeting with the team, but on day-to-day Q: So, for the sake of argument, would
basis, nothing will come to me for decision- there be a situation where your son could
making. also take over?
SENIORS TODAY | ISSUE #25 | JULY 2021 11
