An interesting commentary in The Times of India on the challenges (and change) in Indian companies who bring on CEOs from abroad. The article first discusses the need:
Increasingly, leading Indian corporations Wipro, Indian Hotels, Ranbaxy, AV Birla Group or even L&T want to go overseas and transform themselves into global corporations. Having worked in protected markets, these firms don’t quite have the exposure or a large talent pool to execute their global agenda.
And that’s exactly why they need a global CEO. Said Sonal Agrawal, senior director, Accord Group India, a leading executive search firm, “Indian firms look at expats/NRI CEOs clearly for the global experience they bring to the table, in terms of sheer skill of managing operations.”
Jet and Sahara are good examples. Their CEOs, hired from abroad, know how the game is played overseas and bring global practices as well.
There’s other reason. A highly successful global manager tends to act as a magnet. Very often, competent people are willing to work for them. That makes it a lot easier for Indian companies, who would have otherwise struggled to build a strong talent pool. It’s much the same when it comes to raising money in international markets.