WASHINGTON: The US-India Business Council (USIBC) comprising more than 300 top-tier US and Indian companies advancing commercial ties between the two countries has inducted six global business leaders to serve as members of the board.
The new appointees are Anurag Bhargava, Chairman, IREO; Marc Allen, President of Boeing International; David M Cordani, President and CEO, Cigna Corporation; Patrick Dewar, Chairman, Lockheed Martin Global; Kenneth C Frazier, Chairman and CEO, Merck; and Edward Monser, President and COO, Emerson Electric.
USIBC and the board of directors remain committed to advancing the commercial relationship between the US and India, said Ajay Banga, USIBC Chairman and MasterCard President and CEO.
“Our members are encouraged by Government of India’s commitment to economic growth, to attracting the investment needed to achieve that growth, and improving the ease of doing business in India,” he said.
They “look forward to contributing to India’s growth story through any number of Government of India initiatives, including Smart Cities and Make in India.”
The new group of directors is “joining the Council at a time when India is poised for tremendous growth and will undoubtedly provide valuable leadership to USIBC and its members,” said Mukesh Aghi, President of USIBC.
Anurag Bhargava, Chairman of IREO, the largest FDI investor in the construction development sector in India said, “IREO is committed to delivering world-class homes and supporting efforts to build smart cities and urban infrastructure that enables India’s continued economic growth and middle class expansion.”
“Promoting an innovation-based economy supports not only the growth of the life sciences industry, but also helps to expand health care access for its people,” said Kenneth C Frazier, Chairman and CEO, Merck.
“As Cigna works to improve both health and vitality in India, we look forward to increasing our presence in the dynamic Indian market,” said David M Cordani, President and CEO of Cigna.
“India has a lot to offer to the world as a market and US companies have a lot to consider and gain from the opportunity,” said Edward Monser, President and COO of Emerson Electric.
“Boeing’s relationship with India dates back several decades, and we look forward to an enduring partnership for decades to come,” said Marc Allen, President of Boeing International.
“Lockheed Martin’s commitment to teaming with the Indian Government and enterprise aligns well with the spirit of the Council’s mission to advance the bilateral relations,” said Patrick Dewar, Chairman of Lockheed Martin.
As board members, this dynamic group of CEOs along with existing members will help promote the USIBC policy advocacy priorities across critical areas such as health, defence, designing liveable cities, technology, manufacturing and financial services, said the trade association.
What exactly was Dr Aghi’s last date/month as CEO of L&T Infotech (Services Cluster)? There was this piece of news (Oct-Nov, 2014), that to the best of my knowledge was exclusive to ToI and ET . I have not seen this news in any other online publications of Live Mint, Business Standard, Financial Express, Hindu Business Line, CXO Today etc. Please refer, The Times of India article- Oct 22, 2014 – L&T Infotech joint CEOs quit Oct 22 2014 -. Excerpts: “The joint CEOs of L&T Infotech, Vivek Chopra and Mukesh Aghi, quit the company last week after two years at the helm –The reasons for the exit are not clear, but analysts noted that the leadership in the nearly $1-billion L&T Infotech had become very top heavy. Above the joint CEOs was V K Magapu, the managing director; and in May this year, the company appointed former Infosys senior vice-president Chandrashekar Kakal as COO”. Please refer, The Economic Times article – Nov 6, 2014 – L&T Info to hire joint CEOs by month end; but all decisions funnelled through AM Naik – Excerpts – “Joint CEOs Vivek Chopra and Mukesh Aghi leave the company last month, two years after they were appointed– To be sure, both Chopra and Aghi were not true CEOs in that they both reported to managing director VK Magapu, who then reported into Naik. Magapu was brought into the company in September 2012 after he retired from L&T.” Eentry-exit of CXOs information usually affects share prices of company, L&T stock after this news up by 3% on 15 Jan after a along haul!—————————————————How about Dr Aghi’s well studied plans/targets of taking LnT Infotech to $1 billion revenue club by 2013 end and $3 billion in next 2-3 years i.e. 2015-16? As per recent report LnT Infotech is expecting to be in $1 billion (in revenues) club by mid 2016. Should we expect some credibility from business leaders like Dr Aghi. Where he has taken Steria India headcount and revenues as CEO, where he has taken LnT Infotech (services cluster) headcount and revenue as CEO of LnT Infotech (Services Cluster)? His exits from both these firms were quite shrouded, why he did not reach out to media to discuss about his tenures and exit at LnT Infotech and reasons why he failed to achieve the set target? Should we expect some transparency, accountability and credibility from business leaders? When DrAghi says he is bullish about India-US trade petition of $500 billion can it be taken at face value with seriousness? What is Dr Aghi’s breath taking performance CEO of Steria India and CEO of LnT Infotech (Services Cluster) that made him eligible for such important position with a substantial bearing on India-US trade potential of $500 billion?