Indian executives leading the global leaders; however Ajay Banga's nomination is an exception


Indian executives leading the global leaders; however Ajay Banga's nomination is an exception

Ajay Banga, the Vice Chairman of General Atlantic has been nominated as World Bank Chief, while Punit Renjen becomes head of SAP
 
Ajay Banga Salary Indian American World Bank Chief
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Ajay Banga is the second Asian - American to take the helm of World Bank

Be it Satya Nadella of Microsoft, Sundar Pichai at Google, Neal Mohan at YouTube or Indira Nooyi of Pepsi who are among the Indian origin diaspora leading the global corporate giants; most have one thing in common - their finishing school is typically western, of the likes of Wharton, Stanford, Harward, Yale, etc.

However, with Ajay Banga, who name is now being mentioned by the who's who of global politics, stands apart. His finishing schools were St Stephen's in New Delhi and Indian Institute of Management Ahmedabad (IIM-A). Ajaypal Singh Banga, was on 23 February nominated as head of the World Bank by none other than the US President, Joe Biden. Analysts and commentators say that this attribute was perhaps the USP that led the Biden administration to nominate Banga as Chief of the World Bank.

Ajay Banga, who is the son of retired Lieutenant General of the Indian Army, did his schooling from Secunderabad, Jalandhar, Delhi and Simla and went on to pursue economics from St Stephen's College in Delhi and then post graduation in Management from IIM Ahmedabad, the top B School in India. His entire education has been purely Indian and his corporate career, which started with Nestle, Pepsico and Citibank in India. It was when he moved to the United States just before 9/11, during his stint with Citibank that he stepped out of India. His understanding of the Indian demography during the early days as well as the multitude of exposure, may well be the reason for his nomination to the top post in global infrsatructure and development financing. After serving with Citibank he left to join Mastercard and subssequent to tripling the Credit Card giant's business in the years he served with them, Banga is now Vice Chairman at General Atlantic. It is said that when he was at Mastercard, his annual package was near USD 25 million.

Punit Renjen, on the other hand, has been proposed as the new Chairman of SAP, the global enterprise technology giant. Once the shareholders approve, Punit will take over from Hasso Plattner, the co-founder of SAP, who served as Chairman of SAP since 2003. Plattner, in a statement said that Renjen was proposed as Chairman at the AGM which will take place in May 2023. Punit Renjen, who retired as Global CEO of Deloitte in December 2022 developed and executed a strategy that helped Deloitte grow its revenues from USD 35 Billion to USD 59 Billion in just seven years. Punit hails from Haryana. He was born in Rohtak, did his schooling from The Lawrence School in Sanawar and did his post gradaution from the United States. He workd with Deloitte for 36 years. Deloitte awarded him with the honorary title of Global CEO Emeritus.

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