Com­men­ta­tor, en­tre­pre­neur, banker... alumni on IIM boards

Hindustan Times (Noida) - - FRONT PAGE - Aman­deep Shukla aman­[email protected] n

NEWDELHI: Cricket com­men­ta­tor Har­sha Bhogle, speaker and au­thor Anita Bhogle, beauty prod­ucts maker Nykaa’s founder and for­mer in­vest­ment banker Fal­guni Na­yar, and Re­new Power Lim­ited chief Su­mant Sinha are among the grad­u­ates of the pres­ti­gious In­dian In­sti­tutes of Man­age­ment (IIMS) who have now been snapped up by var­i­ous IIMS for board po­si­tions — in keep­ing with the new IIM Act passed last year that man­dated alumni from the IIMS on the boards.

“There is a re­quire­ment that up to five alumni should be on the board of ev­ery IIM. Sev­eral IIM grad­u­ates who are now big names in dif­fer­ent fields are part of these boards,” said a gov­ern­ment of­fi­cial who asked not to be named. To be sure, since there are 20 IIMS now, with many be­ing set up re­cently, the newer IIMS have been al­lowed to taken on alumni from other IIMS on their board.

Har­sha Bhogle, who is an IIM Ahmed­abad grad­u­ate, has been nom­i­nated to the board of IIM, Udaipur. Anita Bhogle, who also stud­ied in the same in­sti­tute, is now a mem­ber of the board of gov­er­nors of IIM Jammu.

An­other IIM Ahmed­abad alumna, Fal­guni Nayak is also on the board of IIM Bod­hgaya. Su­mant Sinha, who is the brother of Union min­is­ter Jayant Sinha, stud­ied at IIT Delhi and then IIM Cal­cutta. He is on the board of his own alma mater, IIM Cal­cutta.

“Sinha was ap­pointed as a mem­ber last year. His name again fig­ures in the re­con­sti­tuted board,” the gov­ern­ment of­fi­cial said. The idea of get­ting alumni on the board isn’t new, but the new IIM Act cod­i­fied it. As in­dus­try rep­re­sen­ta­tives with an emo­tional con­nec­tion to the pres­ti­gious busi­ness schools, the alumni are ex­pected to guide the de­ci­sions of the boards.

An­other em­i­nent alum­nus of IIM Ahmed­abad, Sa­chit Jain, the vice chair­man and man­ag­ing di­rec­tor of the Vard­haman group, is on the board of IIM Am­rit­sar.

Sridevi Ragha­van from Kozhikhode is a se­nior vice pres­i­dent of HDFC. She is also a mem­ber of the board for IIM Kozhikhode. San­h­jay Mukher­jee, an IPS of­fi­cer who grad­u­ated from IIM Cal­cutta, is on the school’s board.

“Some of the mem­bers of the newly con­sti­tuted boards have also been re­peated, es­pe­cially in the older IIMS,” a se­nior HRD min­istry of­fi­cial said on con­di­tion of anonymity.

“How­ever, many have been ap­pointed for the first time. The IIM boards are star-stud­ded. And they will be more so when the po­si­tions marked spe­cially for em­i­nent mem­bers are filled up,” the of­fi­cial added.

Fol­low­ing the pas­sage of the IIM Act 2017, the HRD min­istry in con­sul­ta­tion with the law and jus­tice min­istry, ini­ti­ated the process of re-con­sti­tu­tion of boards for the IIMS. The process is un­der­way.

FILE

Har­sha and Anita Bhogle. n

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