Riding on the success of her microfinance venture and bolstered by the recent acquisition of Sachin Bansal’s Chaitanya, Kumar Mangalam’s daughter is seen as perfectly poised to take the helm at Aditya Birla Capital.
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The CEO of the financial services business of the Aditya Birla Group has little to show for her near three years at the helm. That her digital push has turned out to be a dud only makes it worse.
Long known to be conservative with cash, the Aditya Birla Group chairman is on an acquisition and expansion spree. A lot of it has to do with the sudden threat to his cement dominance—his pride and joy.
A crumbling distribution network and whimsical decision-making combine to bring the insurer to a sorry pass. A failure to take hard decisions hereon can only make the situation worse.