Q: What is this semi-retired position or life that you are going to lead at Mahindra & Mahindra?
Tell us about what you continue to retain, what your role continues to be at M&M and its various group companies?
Arun Kumar Nanda, 60
A: I am not sure whether or not it is semi-retirement because what I am taking on may take a lot more effort. What I am going to do is I had a long standing need to give back to the society and the thoughts that went through my mind is that people are going to live longer but their families have become mobile, and the international mobility has resulted in loneliness which is becoming a big challenge as they get on to with age. And while a lot of good work is being done by various foundations in the area of education and children, I don’t think enough is done in the area of dealing with this need of the senior citizens. I identified that area sometime back. I want to spend the second innings of my life, as I call it, in working with the elderly, bringing joy, happiness, and dignity and keep them gainfully employed. For example, a couple of years ago I realised that I always wanted to learn music and tabla. So last year I got a tabla teacher and a music teacher to teach me. Similarly, there are lot of older people who have a desire to do something and what I am looking at is just not shelter and food, I am actually looking at more of the softer aspects of their needs and bring that to them.
So I spoke to Anand (Mahindra) and my Chairman who were very generous with it and said they had no problem if I want to start a non-governmental organization (NGO). However, I thought it was not ethically right. Also, from the governance perspective, if I hold an executive position in M&M that I do something which is not connected with Mahindra work is not right.
So we worked out something, which was very generous on my company’s part––I continue as the Chairman of Mahindra Holidays, one of the babies that I have given birth to and nurtured in the last 11–12 years.
In the real estate business, Anand Mahindra is the Chairman and I am the Vice-Chairman and he has very graciously suggested that he will step-down and make me the Chairman of Mahindra Lifespace Developers. I will step-down as an Executive Director of Mahindra and President of the infrastructure development sector but at the last board meeting our Chairman spoke to the board and they intend to reappoint me as a non-executive Director post 1 April on the board of the parent company, which is M&M. So I would physically move out of the executive offices at Mahindra Towers and we are redoing our old headquarters at Gateway building where the Chairman and Anand (Mahindra) are moving and I will also move into that building.
Q: I know that you will continue as the Chairman of the two of the companies––Mahindra Lifespace and Mahindra Holidays––that you have nurtured from day one, and you will continue as the Non-Executive Director on the board of M&M. But in some sense it is the end of the Nanda era at least at M&M? To some extent can I put it that way?
A: No, in fact Anand put it very nicely at the board. He said that I am not making any emotional speeches because Arun will be with us. If I see the Chairman’s quote in the press release also, he has said that he is very happy that I will be available to the group. However, in my mind I would say that it is not that three days a week here and three days a week there but I would spend 50% of the time doing work for the group and 50% of the time looking at my social enterprise, which I intend to start after 1 April.
Q: There was a process that you underwent on working on the cause for senior citizen, what was the process? I have heard very few other people in your position in corporate India actually go with that kind of self exercise?
A: This thought started coming to me at about three years ago that if I am going to live longer and since I am not a promoter, I am there for 36 years but still at one day and how do I keep myself occupied. Moreover, I also somewhere at the back of my mind some things that I did in my younger age to give me lot of satisfaction. I was in junior GC and the round table and I used to do fair amount of work at that stage but I didn’t want to just go through the process. So I actually appointed a coach out of Singapore who is a corporate coach, he coaches only CEO’s and he comes to India because he is on the board of some company and he has got clients here. He used to meet every three-four weeks for an hour- and -half to two hours and if he couldn’t come then we used to fix a conference call and we used to do that. We went through the process and we came out of a process as to what we are going to do and I came up with two exercises one was better me because at least I didn’t think I was perfect and which are the areas in which as an individual I could be better.
That also covers how you deal with your peers, the things that I do wrong.
Q: So is this professional coaching or is this personal coaching, coaching to become a better professional or coaching to become a better as a person?
A: That is professional, he only coaches CEO’s but you have to come out with what you want to do and so one was just better me, even in our professional life there, we have a system of a 360 degree feedback. There are reviews by your peers your subordinates and superiors, the review with the outside agencies we deal with. We go with the fairly good process and there are some negative comments which come in. I think and I thought it was good to go through the exercise and find out how Arun Nanda can be a better person. You can skip a board meeting you but cannot skip an exercise in the morning. The second thing was what does one do in second innings on the process of defining needs and wants and we listed what are the needs and wants and through a fairly scientific process is to leave questions on his websites where he mails you the things, etc. [rc]
© Network 18, 2009
November 5, 2009
INDIA: Arun Nanda's new career - Working for senior citizens
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MUMBAI, Maharashtra / CNBC-TV18 / News Center / November 5, 2009
If by any chance one happens to be on the mailing list of Arun Nanda, on Friday he/she would have been a little surprised by the mail he sent out. Arun Nanda is now reducing his executive responsibilities at Mahindra & Mahindra, a group that he has been with for the better part of his life, a group in which he has nurtured many companies and holds many senior positions and he is going to devote a large amount of his time now to a cause that’s very close to his heart.
In an interview with CNBC-TV18, he talked about what he is leaving behind and what he is picking up next.
Here is a verbatim transcript of the exclusive interview with Arun Nanda on CNBC-TV18.
Q: What is this semi-retired position or life that you are going to lead at Mahindra & Mahindra?
Tell us about what you continue to retain, what your role continues to be at M&M and its various group companies?
Arun Kumar Nanda, 60
A: I am not sure whether or not it is semi-retirement because what I am taking on may take a lot more effort. What I am going to do is I had a long standing need to give back to the society and the thoughts that went through my mind is that people are going to live longer but their families have become mobile, and the international mobility has resulted in loneliness which is becoming a big challenge as they get on to with age. And while a lot of good work is being done by various foundations in the area of education and children, I don’t think enough is done in the area of dealing with this need of the senior citizens. I identified that area sometime back. I want to spend the second innings of my life, as I call it, in working with the elderly, bringing joy, happiness, and dignity and keep them gainfully employed. For example, a couple of years ago I realised that I always wanted to learn music and tabla. So last year I got a tabla teacher and a music teacher to teach me. Similarly, there are lot of older people who have a desire to do something and what I am looking at is just not shelter and food, I am actually looking at more of the softer aspects of their needs and bring that to them.
So I spoke to Anand (Mahindra) and my Chairman who were very generous with it and said they had no problem if I want to start a non-governmental organization (NGO). However, I thought it was not ethically right. Also, from the governance perspective, if I hold an executive position in M&M that I do something which is not connected with Mahindra work is not right.
So we worked out something, which was very generous on my company’s part––I continue as the Chairman of Mahindra Holidays, one of the babies that I have given birth to and nurtured in the last 11–12 years.
In the real estate business, Anand Mahindra is the Chairman and I am the Vice-Chairman and he has very graciously suggested that he will step-down and make me the Chairman of Mahindra Lifespace Developers. I will step-down as an Executive Director of Mahindra and President of the infrastructure development sector but at the last board meeting our Chairman spoke to the board and they intend to reappoint me as a non-executive Director post 1 April on the board of the parent company, which is M&M. So I would physically move out of the executive offices at Mahindra Towers and we are redoing our old headquarters at Gateway building where the Chairman and Anand (Mahindra) are moving and I will also move into that building.
Q: I know that you will continue as the Chairman of the two of the companies––Mahindra Lifespace and Mahindra Holidays––that you have nurtured from day one, and you will continue as the Non-Executive Director on the board of M&M. But in some sense it is the end of the Nanda era at least at M&M? To some extent can I put it that way?
A: No, in fact Anand put it very nicely at the board. He said that I am not making any emotional speeches because Arun will be with us. If I see the Chairman’s quote in the press release also, he has said that he is very happy that I will be available to the group. However, in my mind I would say that it is not that three days a week here and three days a week there but I would spend 50% of the time doing work for the group and 50% of the time looking at my social enterprise, which I intend to start after 1 April.
Q: There was a process that you underwent on working on the cause for senior citizen, what was the process? I have heard very few other people in your position in corporate India actually go with that kind of self exercise?
A: This thought started coming to me at about three years ago that if I am going to live longer and since I am not a promoter, I am there for 36 years but still at one day and how do I keep myself occupied. Moreover, I also somewhere at the back of my mind some things that I did in my younger age to give me lot of satisfaction. I was in junior GC and the round table and I used to do fair amount of work at that stage but I didn’t want to just go through the process. So I actually appointed a coach out of Singapore who is a corporate coach, he coaches only CEO’s and he comes to India because he is on the board of some company and he has got clients here. He used to meet every three-four weeks for an hour- and -half to two hours and if he couldn’t come then we used to fix a conference call and we used to do that. We went through the process and we came out of a process as to what we are going to do and I came up with two exercises one was better me because at least I didn’t think I was perfect and which are the areas in which as an individual I could be better.
That also covers how you deal with your peers, the things that I do wrong.
Q: So is this professional coaching or is this personal coaching, coaching to become a better professional or coaching to become a better as a person?
A: That is professional, he only coaches CEO’s but you have to come out with what you want to do and so one was just better me, even in our professional life there, we have a system of a 360 degree feedback. There are reviews by your peers your subordinates and superiors, the review with the outside agencies we deal with. We go with the fairly good process and there are some negative comments which come in. I think and I thought it was good to go through the exercise and find out how Arun Nanda can be a better person. You can skip a board meeting you but cannot skip an exercise in the morning. The second thing was what does one do in second innings on the process of defining needs and wants and we listed what are the needs and wants and through a fairly scientific process is to leave questions on his websites where he mails you the things, etc. [rc]
© Network 18, 2009
Q: What is this semi-retired position or life that you are going to lead at Mahindra & Mahindra?
Tell us about what you continue to retain, what your role continues to be at M&M and its various group companies?
Arun Kumar Nanda, 60
A: I am not sure whether or not it is semi-retirement because what I am taking on may take a lot more effort. What I am going to do is I had a long standing need to give back to the society and the thoughts that went through my mind is that people are going to live longer but their families have become mobile, and the international mobility has resulted in loneliness which is becoming a big challenge as they get on to with age. And while a lot of good work is being done by various foundations in the area of education and children, I don’t think enough is done in the area of dealing with this need of the senior citizens. I identified that area sometime back. I want to spend the second innings of my life, as I call it, in working with the elderly, bringing joy, happiness, and dignity and keep them gainfully employed. For example, a couple of years ago I realised that I always wanted to learn music and tabla. So last year I got a tabla teacher and a music teacher to teach me. Similarly, there are lot of older people who have a desire to do something and what I am looking at is just not shelter and food, I am actually looking at more of the softer aspects of their needs and bring that to them.
So I spoke to Anand (Mahindra) and my Chairman who were very generous with it and said they had no problem if I want to start a non-governmental organization (NGO). However, I thought it was not ethically right. Also, from the governance perspective, if I hold an executive position in M&M that I do something which is not connected with Mahindra work is not right.
So we worked out something, which was very generous on my company’s part––I continue as the Chairman of Mahindra Holidays, one of the babies that I have given birth to and nurtured in the last 11–12 years.
In the real estate business, Anand Mahindra is the Chairman and I am the Vice-Chairman and he has very graciously suggested that he will step-down and make me the Chairman of Mahindra Lifespace Developers. I will step-down as an Executive Director of Mahindra and President of the infrastructure development sector but at the last board meeting our Chairman spoke to the board and they intend to reappoint me as a non-executive Director post 1 April on the board of the parent company, which is M&M. So I would physically move out of the executive offices at Mahindra Towers and we are redoing our old headquarters at Gateway building where the Chairman and Anand (Mahindra) are moving and I will also move into that building.
Q: I know that you will continue as the Chairman of the two of the companies––Mahindra Lifespace and Mahindra Holidays––that you have nurtured from day one, and you will continue as the Non-Executive Director on the board of M&M. But in some sense it is the end of the Nanda era at least at M&M? To some extent can I put it that way?
A: No, in fact Anand put it very nicely at the board. He said that I am not making any emotional speeches because Arun will be with us. If I see the Chairman’s quote in the press release also, he has said that he is very happy that I will be available to the group. However, in my mind I would say that it is not that three days a week here and three days a week there but I would spend 50% of the time doing work for the group and 50% of the time looking at my social enterprise, which I intend to start after 1 April.
Q: There was a process that you underwent on working on the cause for senior citizen, what was the process? I have heard very few other people in your position in corporate India actually go with that kind of self exercise?
A: This thought started coming to me at about three years ago that if I am going to live longer and since I am not a promoter, I am there for 36 years but still at one day and how do I keep myself occupied. Moreover, I also somewhere at the back of my mind some things that I did in my younger age to give me lot of satisfaction. I was in junior GC and the round table and I used to do fair amount of work at that stage but I didn’t want to just go through the process. So I actually appointed a coach out of Singapore who is a corporate coach, he coaches only CEO’s and he comes to India because he is on the board of some company and he has got clients here. He used to meet every three-four weeks for an hour- and -half to two hours and if he couldn’t come then we used to fix a conference call and we used to do that. We went through the process and we came out of a process as to what we are going to do and I came up with two exercises one was better me because at least I didn’t think I was perfect and which are the areas in which as an individual I could be better.
That also covers how you deal with your peers, the things that I do wrong.
Q: So is this professional coaching or is this personal coaching, coaching to become a better professional or coaching to become a better as a person?
A: That is professional, he only coaches CEO’s but you have to come out with what you want to do and so one was just better me, even in our professional life there, we have a system of a 360 degree feedback. There are reviews by your peers your subordinates and superiors, the review with the outside agencies we deal with. We go with the fairly good process and there are some negative comments which come in. I think and I thought it was good to go through the exercise and find out how Arun Nanda can be a better person. You can skip a board meeting you but cannot skip an exercise in the morning. The second thing was what does one do in second innings on the process of defining needs and wants and we listed what are the needs and wants and through a fairly scientific process is to leave questions on his websites where he mails you the things, etc. [rc]
© Network 18, 2009
