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