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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Vishakha Mulye is ushering in big changes at the financial services company, in the process ruffling a few feathers.
Editor's note: On 1 June, when former ICICI Bank veteran Vishakha Mulye took the reins of Aditya Birla Capital, one thing was clear: She had to hit the reset button at the financial services arm of the Aditya Birla Group, and do so quickly. If anyone had doubts on this front, they were cleared a couple of weeks ago, when the company’s top brass flew to Thailand for an off-site. Even before they got there, there were apprehensions; this was not going to be the usual get-together, filled with team-building activities and morale-boosting speeches. “It was as if everyone had smelled a rat,” says an executive at Aditya Birla Capital, asking not to be named. The fears weren’t unfounded. For 15 years, under Mulye’s predecessor, Ajay Srinivasan, the company had been a laggard in the financial services sector. Also, the way the company had lurched from one controversy to another—ranging from corruption allegations and malpractice to bending of norms—showed little focus on accountability. It couldn’t be business as usual. Mulye had come in with the mandate to turn around the company’s fortunes …
Vishakha Mulye is ushering in big changes at the financial services company, in the process ruffling a few feathers.
Editor's note: On 1 June, when former ICICI Bank veteran Vishakha Mulye took the reins of Aditya Birla Capital, one thing was clear: She had to hit the reset button at the financial services arm of the Aditya Birla Group, and do so quickly. If anyone had doubts on this front, they were cleared a couple of weeks ago, when the company’s top brass flew to Thailand for an off-site. Even before they got there, there were apprehensions; this was not going to be the usual get-together, filled with team-building activities and morale-boosting speeches. “It was as if everyone had smelled a rat,” says an executive at Aditya Birla Capital, asking not to be named. The fears weren’t unfounded. For 15 years, under Mulye’s predecessor, Ajay Srinivasan, the company had been a laggard in the financial services sector. Also, the way the company had lurched from one controversy to another—ranging from corruption allegations and malpractice to bending of norms—showed little focus on accountability. It couldn’t be business as usual. Mulye had come in with the mandate to turn around the company’s fortunes …
The Sprng Energy acquisition gives Aditya Birla Renewables instant scale and diversification. But high leverage, execution delays and margin pressures point to a tough test ahead.
After a strong listing, Vedanta Aluminium Metal is running into some headwinds. Aluminium prices are easing, but the sharper challenge is rising competition from Kumar Mangalam Birla and Gautam Adani.
Atanu Chakraborty’s resignation does not appear as damaging as the bank’s response to it. The ‘all is well’ narrative needs an independent audit.
The Sprng Energy acquisition gives Aditya Birla Renewables instant scale and diversification. But high leverage, execution delays and margin pressures point to a tough test ahead.
After a strong listing, Vedanta Aluminium Metal is running into some headwinds. Aluminium prices are easing, but the sharper challenge is rising competition from Kumar Mangalam Birla and Gautam Adani.
Atanu Chakraborty’s resignation does not appear as damaging as the bank’s response to it. The ‘all is well’ narrative needs an independent audit.
