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Their address is a landmark, right behind the Buckingham Palace 12 – 16 Carlton House Terrace – London, they make it to the rich list time and again, still mystery remains about them. Unlike their other counterparts in the corporate world The Hindujas have not been much in public. Also, despite owning some of the big entities like Ashok Leyland, brand Hinduja is still not as talked about as an Ambani or Adani or a Mittal in India.
The closed family was recently in the news when whispers of tension between the third generation emerged with passing away of the eldest patriarch S P Hinduja earlier this year. In a quick chat with businessline at their London residence recently, the second-generation members — Gopichand P Hinduja (known as GP), Chairman of the Hinduja Group; Prakash P Hinduja (called PP), Chairman Hinduja Group (Europe) and Ashok P Hinduja (referred as AP), Chairman Hinduja Group of Companies (India) said, “succession plan is already in place and the third generation is already managing the business.” Excerpts:
What is the structure of the Group today like?
GP: Today the Group is managed by 4 Hinduja Brothers, ably supported by members of the next generation. The Hinduja Family is not involved in the day-to-day operations of the businesses which have been entrusted to various competent professionals.
AP: Let me explain: The main business is handled by the Hinduja Trust and profit from the various businesses is equitably disturbed to all family members irrespective of the performance of any one vertical.
Are all the internal challenges which are part of any family business sorted?
GP: The Hinduja Family has a completely different philosophy of ownership. To quote our late revered elder brother, SP Hinduja’s public statements in the past “Everything belongs to Everyone. Nothing belongs to anyone”. We continue to live and operate accordingly. Our businesses will continue to function as they have been.
Business transition — passing on the mantle to the next generation what kind of preparedness is required today?
AP: As a Family Practice, we believe in hiring top-notch professionals and then empowering them to run our businesses. We rarely hold any executive positions, unless an exceptional situation arises, we see our role in providing vision and strengthening Board Processes. If you notice, our next generation is already looking over various businesses for over a decade now. The role of us brothers is to support them at the macro level with guidance and experience.
GP: But if any one of the family members wants to venture into a new category like say someone is interested in pharma or green energy (renewable energy) we will always encourage them and as a group, a decision will be taken on the issue. The family always chats over things.
As a group are you also looking at opportunities which have a more public face or continue to be in traditional businesses?
AP: Our business portfolio has a mix of businesses with bright outlook, both in India and globally. We are always open to looking at new and unique opportunities in any sector, be it public-facing or otherwise. Going forward, we definitely see growth coming in from digitally enabled service-oriented businesses.
PP: We believe in the India growth story and we would like to be part of it throughout.
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