The CEO of $ 2 billion retail empire (Future Group), Kishore Biyani has
envisaged the succession plan for the future. He being passionate to stay ahead
of time, coming up with the distinctive concept of separating family interest
and business in the Indian business landscape.
Though several Biyani family members have been entrenched in the top
management positions, Kishore Biyani has been planning to separate ownership
and day-to-day business to step ahead in the retail business. Likewise, his
past business ideas, he expects this plan also to turn out as very favorable.
He has made it clear that the future chief executives may be professionals and
not from family members. The role of next generation of Biyanis is to be
mentors to guide the businesses.
Biyanis have a family office having seven family members which is mainly
giving the group business a strategic direction (to share ideas and discuss
future possibilities). A key component of the home office is the mentoring role
- both capital and ideas - that the seniors impart to the next generation.
- ·
CEO Kishore Biyani, Pantaloons Board Member
- ·
Vijay Biyani (Kishore’s elder brother), sourcing
head
- ·
Anil Biyani (Kishore’s younger brother), Future
Retail CEO
- ·
Rakesh (Kishore’s cousin), properties and projects
head
- ·
Sunil (Kishore’s cousin), Future Ideas director
- ·
Ashni Biyani (Kishore’s daughter), Home Solutions
Retail
- ·
Vivek Biyani (Vijay’s son), Board Member of Home
Office
From the past three years, the retail badshaah has inducted two members
of the family into Future group board. Biyani’s daughter Ashni (24 years) has
been appointed director of Future Ideas and leads the incubation team and his
nephew Vivek (25 years) is director of home solutions retail, the group’s
fastest growing segment. In a couple of years, younger daughter Avni may also
join the board.
Commenting on this concept adopted by the Retail King, I would say that
this is the right action required at this time to grow professionally in a
competitive Indian market. Looking at the Indian entrepreneurs, several family
owned businesses have stuck up without professional touch and gradually they
have lost the business, market image and share, and their existence. Thus, this
is the perfect shot on Indian pitch to win the T20 (very competitive and
potential market). At the same time execution will play a vital role for the
game to be played and the coming future will decide the success of the Future
Group. “Kishore Biyani is the
batsman who not only looks at fielders’ position but also has a confidence in
his bat.”
I invite your comments and thoughts on this...
This write up is based on the article published in The Times Of India |
Ahmedabad, April 20, 2010.
Good information. Keep it up.
ReplyDeleteSun Pharmaceuticals Ltd
Dabur India Ltd
Exide Industries Ltd
Future Retail Ltd