Mckinsey & Company

With AI in focus, the next decade is about 'value realisation': McKinsey

Additionally, if the tariff threat made by US President Donald Trump becomes a reality, that too will have an impact on the industry

Dabur reduces strategic review cycle to 3 years amidst FMCG slowdown

Home-grown FMCG major Dabur has lowered the time of its strategic vision cycle from four years to three years aiming to create a more agile organisation amid a slowdown in the FMCG space and volatile geopolitical landscape. It has engaged consulting firm McKinsey & Co to refine and align its strategies for the next three years in line with the evolving dynamics, its CEO Mohit Malhotra said in an earnings call. "This exercise has already begun, and we plan to conclude the same by the end of the fiscal year. This will enable us to capture emerging opportunities and navigate the future with sharper and more focused vision," he said. Dabur has four-year vision plans and is currently in the seventh vision cycle. "Earlier we used to have a four-year vision cycle... We feel that in this volatile and heavy-headwind macroeconomic environment and FMCG not doing so well as a sector... we require a validation of our strategies through an external consultant," he said. Malhorta further said ..

McKinsey agrees to pay $650 mn for helping Purdue Pharma boost opioid sales

McKinsey & Company consulting firm has agreed to pay USD 650 million to settle a federal investigation into its work to help opioids manufacturer Purdue Pharma boost the sales of the highly addictive drug OxyContin, according to court papers filed in Virginia on Friday. As part of the deal with the US Justice Department, McKinsey will avoid prosecution on criminal charges if it pays the sum and follows certain conditions for five years, including ceasing any work on the sale, marketing or promotion of controlled substances. A former McKinsey senior partner, Martin Elling, has also agreed to plead guilty to obstruction of justice for deleting documents from his laptop after he became aware of investigations into Purdue Pharma, the maker of OxyContin that was then a client, according to the filings. A lawyer for Elling declined to comment Friday. McKinsey said in a statement on Friday that it's deeply sorry for its work for Purdue Pharma. We should have appreciated the harm opioids .

McKinsey to cut 500 jobs in China, reducing ties with govt-linked clients

McKinsey's employee restructuring is aimed at separating its China unit from its global operations amid political pressure in the US over its work in Saudi Arabia and China

ONGC gets director to spearhead new energy, petrochem business & strategy

Oil and Natural Gas Corporation (ONGC) has got a new director to spearhead its new energy, petrochemicals and corporate strategy as part of a board revamp aimed at breathing fresh life into the state-controlled behemoth. Arunangshu Sarkar has been appointed as Director for strategy and corporate affairs, ONGC said in a stock exchange filing. Before the elevation, Sarkar, a petroleum engineer from the Indian School of Mines, Dhanbad, was Group General Manager (Production) at ONGC. He had previously worked as General Manager (Strategy & Corporate Planning), ONGC Videsh Ltd - the overseas investment arm of ONGC. Two years back, the board of ONGC was reorganised. Besides creating the new post of Director (Strategy & Corporate Affairs), the post of Director (Production) was created after merging Director (Onshore), who is in charge of all oil and gas fields located on land, and Director (Offshore) who looks after all offshore assets, such as the prime Mumbai High fields. In ...

Kedaara Capital breaks mold for Indian PE firms with record capital raise

Kedaara Capital has raised a record $1.7 billion to put it on par with the deep-pocketed global players that have dominated the space for years

McKinsey starts eliminating around 360 jobs as client demand slows

The firm has warned about 3,000 of its consultants that their performance was unsatisfactory and will need to improve

Job cuts: McKinsey offering some staff nine months' pay to leave firm

McKinsey and its peers in the consulting world have trimmed headcount, delayed start dates and slowed the pace of hiring over the past year amid declining demand from clients

Generative AI will be disappointing in the short term, says Noshir Kaka

Noshir Kaka, Senior Partner and Co-lead of global Technology, Media & Telecommunications Practice, McKinsey & Company, says that GenerativeAI (GenAI) is like a double-edged sword

McKinsey agrees to $78 mn settlement with insurers over opioids crisis

Consulting firm McKinsey and Co. has agreed to pay USD 78 million to settle claims from insurers and health care funds that its work with drug companies helped fuel an opioid addiction crisis. The agreement was revealed late Friday in documents filed in federal court in San Francisco. The settlement must still be approved by a judge. Under the agreement, McKinsey would establish a fund to reimburse insurers, private benefit plans and others for some or all of their prescription opioid costs. The insurers argued that McKinsey worked with Purdue Pharma the maker of OxyContin to create and employ aggressive marketing and sales tactics to overcome doctors' reservations about the highly addictive drugs. Insurers said that forced them to pay for prescription opioids rather than safer, non-addictive and lower-cost drugs, including over-the-counter pain medication. They also had to pay for the opioid addiction treatment that followed. From 1999 to 2021, nearly 280,000 people in the US di

Big Four accounting firms make $4 bn from India biz; expand into consulting

The Big Four have overhauled their operations over the past few years to gain a wider share in the high-demand advisory and technology services firms

Banks' profitability may have reached peak, set to fall: Mckinsey

Banks' profitability may have reached its peak and is set to fall going ahead due to a slew of factors, global consultancy Mckinsey & Company said on Wednesday. The firm also said that the banking system is meeting less than a third of the credit demand for green finance, and recommended moves like inclusion of such finance under priority sector lending and creating a credit guarantee platform. Aspects like rise in deposit costs due to the lagged effect of rate hikes and the war for deposits, higher operational costs on tech spends and hiring of specialized talent, and higher credit costs as the stress on the books goes up will hurt the profitability, its senior partner Peeyush Dalmia told reporters here. "We expect RoAs (return on assets) to absolutely fall..., if I were to take a 12-18 month view, it will (fall) absolutely," he said, pointing to his outlook on the key ratio arrived at by dividing net income with the total assets. Dalmia said in the next 24-30 month period, he ...

Tata Group only Indian firm in BCG list of top 50 most innovative firms

Tata Group was placed in the twentieth spot in the list of most innovative companies in the world

McKinsey shutting down restructuring business, reports Wall Street Journal

Some partners in the restructuring unit, called McKinsey RTS, were laid off and others are being absorbed into other practices, the report added

US consumer tech firm Honeywell appoints Ashish Modi as India biz head

US-based consumer technology company Honeywell on Thursday announced the appointment of Ashish Modi as country president for India

India offers many tailwind opportunities in various sectors: McKinsey India

Companies must choose growth mindset and constantly evaluate resource allocation to boost growth, McKinsey India said. Growth is the only oxygen that India needs, McKinsey India senior partner Jaidit Brar said at the annual convention of Madras Management Association here. "The drivers of margin accretive growth are relentless cost and value engineering; quality of revenue, new business models and scale benefits," he said at the event which was held on the theme "India's Century: How to Drive Sustainable, Inclusive Growth?". Companies must choose growth mindset, constantly evaluate resource allocation, pursue adjacent opportunities, serve global markets, he said. NITI Aayog former CEO Parameswaran Iyer said the Centre wants to create facilities that would remove the divide between villages and cities and government would be an enabler and not implementer. India is very much on the path to become a developed nation, thanks to its economy, sound macro-economic fundamentals, robust .

Wealth of prosperous Asians to reach $4.7 trillion by 2026: McKinsey report

A McKinsey analysis has revealed that the wealth pool of this group is projected to hit $4.7 trillion by 2026, up from $2.7 trillion in 2021, thanks to the rise in their incomes

McKinsey lists 10 steps to decarbonise India while pursuing economic growth

India emits a net 2.9 gigatons of carbon-dioxide equivalent every year, third-largest globally, as of 2019, according to a report recently released by McKinsey Sustainability

India can accelerate green investments to $12.1 trillion by 2050

India can accelerate green investments to USD 12.1 trillion by 2050 and reap a host of benefits, a consultancy firm said on Thursday. With the ongoing rate, India's net Green House Gas (GHG) emissions will rise to 11.8 gigatons of carbon dioxide equivalent by 2070 from the 2.9 gigatons in 2019, Mckinsey & Co said in a report. However, India has the potential to create 287 gigatons of carbon space for the world if it accelerates its efforts to fight climate change, the report said, adding that this amounts to almost half of the global carbon budget for an even chance at limiting warming to 1.5 degree celsius. "India's decarbonisation will require an estimated USD 12.1 trillion (5.9 per cent of GDP) of green investments until 2050 for the 'accelerated' scenario," it said. India has committed to net zero emissions by 2070. As per earlier estimates, the shift to net zero by 2070 will require USD 10 trillion worth investments. Mckinsey said there are tailwinds which would be of help to

Why women in leadership roles are quitting at faster rate than ever

For every woman at the director level who gets promoted, two female directors are choosing to leave their company, according to a new McKinsey & Co. and LeanIn.org report