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| Mittal's son joins Bharti |
| BS Reporter / New Delhi Sep 03, 2010, 00:25 IST |
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Shravin takes mid-rung job on Rs 1.5-cr salary
 After a swarm of daughters moved into companies controlled by their fathers — think Godrej, Nadar, Reddy, Biyani, Chauhan, Piramal, TVS, et al — the male heirs are stepping forward to claim their inheritance. As everyone was transfixed yesterday on Azim Premji’s son, Rishad, rising to the position of chief strategy officer at Wipro barely three years after joining the company, a quiet notice to the Bombay Stock Exchange said Sunil Bharti Mittal’s son, Shravin, had joined Bharti Airtel’s African investment subsidiary as manager.
The subsidiary, Bharti Airtel International (Netherlands), or BAIN, is the one through which Bharti carried out its high-profile acquisition of Zain. It is also the holding entity for all of Bharti’s African operations.
“(Shravin) will assist BAIN's management in integration of Zain Africa with the company,” Bharti Airtel said in a statement, adding that Mittal junior may be elevated to the Board or equivalent position either in BAIN or any of the companies in which he is an employee.
His father, who is not known to mince words on most issues, chose to keep his lips sealed on the issue today. He would only say that everything the company had to say was in the annual general meeting (AGM) note, which is available on the group’s website.
At the AGM on Wednesday, shareholders approved Shravin's appointment at an annual remuneration of up to euro 250,000 (Rs 1.5 crore).
He could also pick up stock options. “Sunil Bharti Mittal has set a very good example by appointing his son at a middle-management position, and that too in Africa, where the company is yet to establish its mark,” said an industry observer, who wouldn’t be named.
Shravin’s career so far boasts marquee names in the world of business. Before this, he was with JP Morgan Cazenove in London as an analyst in the technology, media and telecom division of the investment banking unit. He was a member of both pitch and execution teams advising on M&A and restructuring transactions. He also performed valuation analysis, research and strategic evaluations for initial public offerings and M&As. He has in the past worked with Merrill Lynch (New York) and Ernst &Young (London).
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