EXECUTIVES: 8 Indians among world’s best performing CEOs

Y. C. Deveshwar, named the world’s seventh-best CEO by harvard Business Review, addresses a press conference in New Delhi. Prakash Singh/AFP/Getty Images

IANS

Eight Indian CEOs have made it to Harvard Business Review’s list of 100 best performing global chief executives, headed for the last 17 years by the late Steve Jobs of Apple.

ITC chairman Y.C. Deveshwar, ranked seventh overall, was first among the Indian CEOs. Under his leadership, ITC saw its value increase by $45 billion.

He was followed by former ONGC’s late chairman and managing director Subir Raha (13th overall). During Raha’s May 2001-2006 tenure, ONGC’s market capitalisation increased more than tenfold.

Reliance Industries chairman Mukesh Ambani (28th), was ranked third among Indians. Under his leadership, Reliance Industries has grown to become India’s second-largest Indian company by turnover.

Larsen & Toubro chairman and managing director A.M. Naik (32nd), came next. Under Naik’s leadership, the company has expanded its horizons beyond domestic frontiers, positioning itself to become a true international player.

Former Bharat Heavy Electricals CMD A.K. Puri (38th) is ranked fifth among the Indians. He is followed by Bharti Airtel chairman, Sunil Bharti Mittal (65th), Jindal Steel & Power CEO Naveen Jindal (87th), and former SAIL chairman V.S. Jain (89th).

On an average, these CEOs have delivered a total shareholder return of 1,385 per cent during their tenures and increased their firms’ market value by $40.2 billion (adjusted for inflation, dividends, share repurchases, and share issues).

Jobs, who died in October 2011, was deemed the best-performing CEO over the past 17 years. He was also named top CEO the last time HBR published such a list, in January 2010. From 1997 to 2011, Apple’s market value increased by $359 billion, and its shareholder return experienced average compound annual growth of 35 percent.

Jeff Bezos of Amazon.com has now climbed to the No. 2 spot, up from No. 7 in the HBR 2010 list. Under his leadership, the company delivered industry-adjusted shareholder returns of 12,266 percent and saw its value increase by $111 billion.

The highest-ranked woman on the list is Meg Whitman, currently the CEO of beleaguered HP, whose performance as the CEO of eBay from 1998 to 2008 earned her the No. 9 spot.

Tags: business, CEO, CEOs, harvard business review, India