Growing The Family Business The Kelkar Way

wealthymatters.comWhen the 640-crore SH Kelkar & Company (SHK) , a maker of specialty fragrance and flavour ingredients , into which US private equity giant Blackstone invested 243 crore in early September this year, inaugurated an R&D centre on September 12,its CEO performed the puja.Nothing unusual about this except that B. Ramkrishnan,the 56-year-oldĀ CEO, isn’t the owner of the family-owned unlisted business,but a professional.Kedar Vaze, the third-generation family member, in India’s largest fragrance and flavour maker, sat and watched, as the man he reports to, did the honours.

There is a clutch of Indian family owned businesses from the Daburs in the North to the Murugappa group in the South that have brought in professionals to manage their enterprises even as they step back as owners.In some cases,the next-gen family members may be being groomed to take over at the top from the professional once they are ready for the task. Read more of this post

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