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CEOs auctioned; Narayana Murthy top choice Hyderabad, October 7 The unique concept, christened as “Shadow a CEO”, allowed ISB students to bid for the business leader of their choice. It provided an opportunity to the students to spend a day with the who’s who of India Inc, watch their work closely and imbibe their leadership values. The funds mobilised through the three-day online auction, held from September 21, would be used to do charity work of the CEOs’ choice. “Twenty-six business leaders had agreed to participate in the programme. In all, 1,196 bids were made and the aggregate bid amount was Rs 6.8 lakh,” said Varsha Ratnaparke, a spokesperson of the ISB. She, however, refused to disclose the bid amount garnered by individual CEOs. Infosys founder Narayana Murthy was the clear winner in terms of the students’ choice. “The purpose of the programme is to engage ISB students in the act of giving and provide them with a lifetime opportunity to observe and learn by spending a day with the CEO of their choice,” the spokesperson said. CEOs representing diverse fields like information technology finance, consulting, biotechnology and infrastructure would also contribute voluntarily. The contribution by them would be added to the bid amount and the proceeds would go to an NGO of their choice. The highest bidders for women CEOs - Krian Mazumdar Shaw of Biocon Limited and Vandana Luthra of VLCC Group - were female students. Other CEOs who took part in the programme included chairman and managing director of the Godrej group Adi Godrej, chairman of the Aditya Birla group Kumar Mangalam Birla, chairman of HDFC Deepak Parekh, chairman of Piramal Enterprises Ajay Piramal, CEO of Dr Reddy’s Laboratories GV Prasad, KV Kamath of ICICI Bank, Rakesh Bharti Mittal of Bharti Enterprises, Anand Kripalu of Cadbury India and GV Sanjay Reddy of the GVK group. “With the completion of the bidding process, the CEOs and the student bidders are now in the process of identifying the charity works for which the funds will be used,” Ratnaparke said.“The focus of the initiative is to involve India Inc in social cause, and to create an opportunity for ISB students to network with current business leaders of India. We encourage our students to become social entrepreneurs and use the power of business to improve society,” ISB dean Ajit Rangnekar said. The concept was designed to celebrate “Joy of Giving Week” initiated by the Give India Foundation. It was meant to train managers of tomorrow by giving them an opportunity to see and learn from successful CEOs by being with them for one full day. Top three bidders for each CEO were shortlisted. They were asked to give a letter of intent (LOI) explaining why they were bidding for a particular CEO. A panel comprising ISB faculty and administrative members reviewed these letters and arrived at a consensus on the most deserving student to shadow the CEO. l
‘Shadow a CEO’ allowed students of the Indian School of Business, Hyderabad, to bid for a business leader of their choice
l It provided them an opportunity to spend a day with the who’s who of India Inc, watch their work closely l
The three-day online auction was held from September 21 l
Twentysix business leaders attracted 1,196 bids, fetching Rs 6.8 lakh l
The funds will be used for charity
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