Shumeet Banerji created history of sorts in July 2008, when he became the first CEO of Booz & Company, after the 94-year-old Booz Allen Hamilton decided to spin off its global commercial business as a separate company. The 51-year-old Delhi University graduate and MBA is in the news yet again. But this time, it’s because of his induction on the board of global technology giant HP at a time when the company is cleansing itself of a recent sex scandal that saw the exit of high-profile CEO Mark Hurd.
The company not only lost significant market value, but also faced severe criticism from various quarters for the way the entire episode was handled. The induction of five new board members is seen was a major development in building a long-term strategy and winning back credibility. For Banerji, who had been with Booz & Co for nearly two decades — including his recent stint as CEO — has had a number of challenges and opportunities thrown at him.
Banerji, who will be the second Indian on the HP board after Rajiv Gupta, brings with him a deep understanding and wide experience of the global market. “It’s not always that a company takes a management consultant on its board. By having one, HP in some way wants the backing of his knowledge and experience to bring about significant changes from the strategy perspective,” said a senior executive of a consulting firm.
Banerji, who completed his bachelor of arts from St Stephen’s College, Delhi, and MBA from the University of Delhi, is a global citizen in the true sense. A PhD in microeconomics and game theory from Kellogg Graduate School of Management at Northwestern University, Banerji was also on the faculty at University of Chicago’s Graduate School of Business before joining Booz.
Before this elevation, Banerji, now located in London, was managing director of the company’s European operations. He was instrumental in setting up Booz & Co’s office in India in the late 1990s.
But it’s not all work for Banerji, who has a long-standing interest in outdoor activities like climbing, skiing and diving. He is a committed conservationist and a keen amateur wildlife and landscape photographer.
