The curtains ar
e falling to connote the end of the stint of Manmohan and Puja Shetty with Adlabs, the company Manmohan built from scratch. Manmohan Shetty, currently MD & Chairman had sold of the controlling stake to Anil Ambani’s ADA group in August 2005. The latest twist in the tale is that both the father and daughter (currently whole time Director) have decided to step down from their respective positions. At present, they are both serving a notice period but we can expect a lot of fireworks afterwards. Although the Shettys have stepped down from their managerial position, they are not willing to part up with their 5% stake they still have in Adlabs.
If the grapevine has to be believed there has been a constant clash of interests between the Shetty duo and the Ambani major. As is apparent Adlabs is just a cog in Anil Ambani’s convergence wheel, and it may not have gone down well with the company founders. Now with the two out of the way, Anil Ambani can run the operations of Adlabs in his own flamboyant style to suit his ends.
But while the company may prosper under the aegis of the ADAG empire, it would surely miss the passionate involvement of its founder. But then, to the winner belong the spoils, don’t they?
e falling to connote the end of the stint of Manmohan and Puja Shetty with Adlabs, the company Manmohan built from scratch. Manmohan Shetty, currently MD & Chairman had sold of the controlling stake to Anil Ambani’s ADA group in August 2005. The latest twist in the tale is that both the father and daughter (currently whole time Director) have decided to step down from their respective positions. At present, they are both serving a notice period but we can expect a lot of fireworks afterwards. Although the Shettys have stepped down from their managerial position, they are not willing to part up with their 5% stake they still have in Adlabs.If the grapevine has to be believed there has been a constant clash of interests between the Shetty duo and the Ambani major. As is apparent Adlabs is just a cog in Anil Ambani’s convergence wheel, and it may not have gone down well with the company founders. Now with the two out of the way, Anil Ambani can run the operations of Adlabs in his own flamboyant style to suit his ends.
But while the company may prosper under the aegis of the ADAG empire, it would surely miss the passionate involvement of its founder. But then, to the winner belong the spoils, don’t they?
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist)
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