Forbes India — November 17, 2017

62 | FORBES INDIA DECEMBER 29, 2017

By SALIL PANCHAL & SAMAR SRIVASTAVA

Mind On,

Hands Off

IT’S BEEN THREE YEARS SINCE HARSH MARIWALA ENGINEERED

A SEAMLESS TRANSFER OF EXECUTIVE RESPONSIBILITIES

TO PROFESSIONALS AT FMCG GIANT MARICO.

BUT MAKE NO MISTAKE, THE INQUISITIVE ENTREPRENEUR

IS FAR FROM HANGING UP HIS BOOTS

O

ne would think that

in the constantly

variable world of

retail consumption,

where products

on demand can

fly off shelves in the twinkling

of an eye, the promoter of a fast-

moving consumer goods (FMCG)

company of considerable repute

and size might also be constantly

on the edge, surrounded by MIS

reports and product presentations.

Yet, there is an air of calmness

when one steps into the chamber

of Harsh Mariwala, the founder

of the `40,000-crore (by market

capitalisation as on October

11) Marico, whose flagship

Parachute hair oil and Saffola

cooking oil brands touch the lives

of one out of three Indians.

A few folders lie on a pristine

long table, set against several wall

shelves and a desktop computer,

in his office at Mumbai’s bustling

business district of Bandra-Kurla

Complex. It’s been over three years

since Mariwala, 66, decided to take

his foot off the pedal (he pulled out of

executive responsibilities, stepping

down as managing director of Marico

in 2014). But he has not lost his mojo

despite battling rivals—Hindustan

Unilever (HUL), Godrej Consumer

Products Ltd (GCPL), Dabur India

and Emami Ltd—for over 20 years

and expanding business operations to

25 countries across Africa and Asia.

Do not also be deceived into

thinking that Mariwala—

ranked 33rd on the 2017

Forbes India Rich List

with a net worth of $4.2

billion (around `27,000

crore)—has hung up

his boots. He serves as

chairman on the board

of Marico, is on the

cusp of launching a new

venture and has found

time to pursue goals

beyond professional

work, particularly in

giving back to society

in a stronger way than

in previous decades.

Each day of his is well

-chalked-out: From the

review meetings of the

initiatives he is involved

with—Marico, Kaya Ltd,

Marico CSR, Marico

Innovation Foundation,

Ascent, Mariwala Health

Initiative and the family

office—to his daily workouts at the

gym and golf over the weekends.

Mariwala could not have timed

the transition at Marico better. The

key businesses (barring the skin

care services business Kaya) were

in sound financial health, the board,

audit committee and

the mentoring of the

top management

were operating like

well-oiled machines

and his two children,

Rishabh and Rajvi,

had found strength

in their respective

professional spaces.

There is a real

assurance that Marico—

set up by Mariwala in

1990 after breaking

away from the family-

owned Bombay Oil

Industries Ltd—has

transitioned seamlessly

to a professionally-

managed company from

a family-led commodity

business. In ensuring

the change, Mariwala

would owe some credit

to a Marico faithful

and now CEO, Saugata

[p r o f i l e s]

h a r s h m a r i wa l a

AT A GLANCE

HARSH MARIWALA

Chairman, Marico Ltd

Age: 66

Rank in the

Rich List:

Net worth: $4.2 billion

Significant Business

Development Last Year:

Marico has

expanded and

strengthened its

position in the male

grooming segment,

with two acquisitions

in 2017—Isoplus and

Beardo

The Way Forward:

Mariwala is launch-

ing a new business

which would be a

network of com-

prehensive water

therapy treatment

centres for spinal and

knee ailments, along

with a team of expert

doctors

33

Richest

10 0 INDIANS

The