Buzz: New energy venture may get veteran as CEO

ET’s weekly roundup of the wackiest whispers and murmurs in corporate corridors & policy parlours:Signature StrifeIt’s often asked why real estate moguls are looked down upon in this country. The most prestigious residential address in Mumbai’s Canary Wharf equivalent, which counts several formidable businessmen, even billionaires, and an even larger number of well-heeled professionals, may provide some clues. Apartment owners are in the courts against the developer for a long list of issues ranging from highhandedness to outright bullying. We learn bouncers are often called in to muzzle the antagonists! Why, one would ask, are realtors so keen on only raking in the moolah, putting their reputations and brands at stake?The Big ScoreIf you thought traversing the shifting geopolitics of the Middle East was an arduous assignment, try dribbling through the winner-takes-all soccer sweepstakes between Qatar and Abu Dhabi. But guess what, a homegrown rainmaker—compadre to several of the Gulf’s blue-blooded moneybags, sovereign wealth funds, and even our tycoons—managed to score big recently after he was given a rare audience with the emir of Qatar. Being the pal of the Paris St Germain president probably helped swing things, but we are equally aware of his proximity to the owners of Manchester City, fierce rivals across the Persian Gulf waters. He was also spotted in their box at Porto during the Champion’s League finals. Everyone is tightlipped about what transpired at that Doha tete-atete, but we are guessing that after the UAE and Saudi Arabia, Qatari gas dollars will soon find a way to bankrolling several marquee investment opportunities.New Calling? With some of the upstarts he backed going on to become unicorns, this high-profile investor from the India office of a US venture capital firm, seems to have divinity written all over him. But we hear he wants to pack his bags and return to his original base in the Valley. We are not sure yet if he’s thinking of his own fund or something more entrepreneurial himself, but his bosses are desperately trying to hold him back, offering multiple options. Who would want the current dream run to stop because the key man exits just when the firm looks like reclaiming some lost ground from rivals Accel and Sequoia or, worse still, nurse the headache of potential splinter groups among the band of boys he hired at the local office? That’s not uncommon either in the community, right?Taking to HeartStress can be a silent killer, leaving even the most fanatic health buff with a heart ailment. And this sexagenarian tycoon, who has overseen the spectacular collapse of his empire within a decade, surely has plenty. Just when his stocks were waking up after years of slumber to scale new heights, comes yet another missile from Europe. A little bird tells us he underwent a procedure at his hospital just a few days back to fix blocked arteries. A specialist was flown in from the US to oversee the whole operation. Godspeed, we say. Lab RatNow that he’s decided to plough back a little more than a third of his post-tax windfall into the venture he just got out of, that too against the wishes of his children and brother who would have rather become angel investors themselves, one can only hope this scientist-turned first-time entrepreneur changes his mantra of micromanaging even at the cost of losing topnotch talent. He chose a wellcapitalised online venture over one of the world’s largest retail giants say insiders, paving the way for an immediate pop in the upcoming IPO of the merged entity but for money to really grow, as the single largest, noninstitutional shareholder, he needs to really pipe down.Shop Till We DropSo the clarifications haven’t really helped it appears. Some top babus of this department are still fretting over being left in the dark when ecommerce draft guidelines were issued a few weeks back. They’re earned themselves the dubious distinction of having angered nearly everyone, even fellow bureaucrats. Not only are they being harangued by the industry but another ministry has sent them an angry letter, accusing the officials of overreach and challenging its authority over consumer data among other things. And on top of that, they’ve been inundated with complaints from the public. More than 3,000 letters have piled up on the secretary’s desk from irate consumers who want flash sales, deep discounts, home deliveries and other conveniences to continue. These are from individuals we are told and not from any ecommerce lobby groups. Consumer is king—isn’t that what they say?Renewing Old TiesEver since the mega announcement late last month, everyone wants to know who will be the CEO of this new energy venture that has got the whole world talking. Some senior hires have already come on board as has a top-tier management consultant helping with the strategy blueprint. But our jaws dropped when we heard about the ongoing speculation over an industry veteran as a possible contender. His multi-decade experience across the value chain arguably makes for the perfect choice, even though for the record he’s now enjoying life after giving up on full time assignments, save an occasional high-octane consulting gig. But old timers harp on the tempestuous relationship he has had with the group in the past. If true, this would indeed be a statement hire even though the genial gent told us he’s unaware of any such developments as of now.

from Economic Times https://ift.tt/3jIDKLJ