Even while the CEO of Star Group is negotiating his exit deal with Star, he's been appointed chairman of his wife’s global HR company.
MUMBAI: Chief executives exiting a company with the burden of a non-compete clause can take some tips from Peter Mukerjea. Even while the CEO of Star Group (ventures) is reportedly negotiating his exit deal with the channel, he has been appointed chairman of his wife’s global human resources company called INX Services. There is a non-compete clause in Mukerjea’s contract with Star TV which prevents him from joining a rival broadcaster for a certain time period. “So, while Mukerjea’s plans to start his own broadcasting venture are still on track, the INX appointment could be a parallel or interim post he occupies,’’ say industry observers.
The way is, meanwhile, being cleared for the independent broadcasting venture of Mukerjea and team, with media and marketing heavyweights being inducted on INX’s board: Pratik Basu, former CEO of Buena Vista Television India, has been appointed as executive director; Vir Sanghvi of Hindustan Times and Pradeep Poddar, former managing director, Heinz, are non-executive directors. ``Many of these names should be part of Mukerjea’s future expansion or diversification plans into broadcasting and entertainment,’’ runs the industry opinion.
INX recently forged an alliance with the global search network, IMD. Indrani Mukerjea, founder and current managing director of INX, has been appointed regional director, Asia Pacific, for IMD International Search and Consulting, the first Indian to be on its global board. Indrani says that partnering with a global search provider like IMD will increase the valuation of her company. Srei Venture Capital Ltd is in talks with INX Services for investment.
The million dollar question: will INX-IMD consider looking at ventures in other areas like media and entertainment? “Talent management could be one area we look at. There could be other areas as well; there’s no telling about the future,” says Indrani. When asked whether Peter Mukerjea intends to continue as a consultant with Star at the same time, Indrani declines comment.
Asked why luminaries from the media and other sectors have been brought on board, Indrani has this answer. INX-IMD will deal with executive selection for companies and train recruits across sectors, be it FMCG, consumer durables, finance, or media. The alliance with IMD will help the company tap global talent for the Indian market. “There are certain areas that are high on our radar. Retail, for instance, is a booming area with new players stepping in. Real estate is another. The television industry is witnessing a lot of churn amongst professionals.” With players like NDTV and Star, among others, on the verge of a massive hiring spree, many heads need to be hunted.
Sanghvi and Poddar, she says, are present in an advisory capacity and will make valuable contributions in the areas of media and packaged goods. Basu has a background in the channels space. And Peter Mukerjea, in his previous stints, has worked in both retail and advertising, in addition to media, she says.
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