Making the elephant dance The rise and rise of the 'Desi CEOs'

Business leaders of Indian origin are starting to make a real mark globally. Anand Narasimhan examines the reasons behind the change

When former Mastercard chief executive Ajay Banga was selected as the next head of the World Bank in May, his appointment made news for more than one reason. For one thing, picking the 63-year-old Indian-born executive broke with a long-standing tradition that each World Bank chief comes from the US. Some doubted the suitability of someone who'd had a mostly corporate and Wall Street career for a job running the world's most powerful development finance institution. Banga launched fast-food franchises in India for Pizza Hut and KFC before going on to have a 13-year career at Citigroup. Yet Banga has long been clear that his Indian origins and the experience he has gained from his background influences make him uniquely qualified for his various leadership roles. In a 2020 interview…

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I by IMD (Digital) - 1 Issue, 10. June 2023

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