Washington, Dec 26 — Eight Indian CEOs have made it to Harvard Business Review’s (HBR) list of 100 best performing global chief executives headed for the last 17 years by the late Steve Jobs of Apple.
ITC chairman Y C Deveshwar, ranked seventh overall (Rank 7), was first among the Indian CEOs. Under his leadership, ITC saw its value increase by $45 billion.
He was followed by former ONGC’s late chairman and managing director Subir Raha (Rank 13). During Raha’s May 2001-2006 tenure, ONGC’s market capitalisation increased more than 10 times.
Reliance Industries chairman Mukesh Ambani (Rank 28), was ranked third among Indians. Under his leadership, Reliance Industries has grown to become India’s second-largest Indian company by turnover.
Larsen & Toubro chairman and managing Director A M Naik (Rank 32), came next. Under Naik’s leadership, the company has expanded its horizons beyond domestic frontiers, positioning itself to become a true international player.
Former Bharat Heavy Electricals CMD A K Puri (Rank 38) is ranked fifth among the Indians. He is followed by Bharti Airtel chairman, Sunil Bharti Mittal (Rank 65).
Jindal Steel & Power CEO Naveen Jindal (Rank 87) is ranked seventh among Indians. He is followed by Former SAIL chairman, V S Jain (Rank 89).
On an average, these CEOs have delivered a total shareholder return of 1,385 per cent during their tenures and increased their firms’ market value by $40.2 billion (adjusted for inflation, dividends, share repurchases, and share issues).
Jobs of Apple, who has been the best-performing CEO over the past 17 years was number 1 on HBR 2010 list as well. From 1997 to 2011, Apple’s market value increased by $359 billion, and its shareholder return experienced average compound annual growth of 35 percent.
Jeff Bezos of Amazon.com has now climbed to the number 2 spot, up from number 7 in HBR 2010 list. Under his leadership, the company delivered industry-adjusted shareholder returns of 12,266 percent and saw its value increase by $111 billion.
The highest-ranked woman on the list is Meg Whitman, currently the CEO of beleaguered HP, whose performance as the CEO of eBay from 1998 to 2008 earned her the number 9 spot.