Adi Godrej tipped to replace Gupta as ISB chairman

Adi Godrej, the chairman of Godrej Industries, is likely to take charge tomorrow as chairman of the governing board of the Indian School of Business, replacing Rajat Gupta.

The governing board is also likely to request Analjit Singh, founder and chairman of Max India Limited, to takeover as vice chairman.

Godrej will be only the second chairman of the Hyderabad-based business school, which was founded 10 years ago and has rapidly risen up the ladder of global b-school rankings.

ISB’s first board meeting after Gupta’s resignation is tomorrow, its 10th Graduation Day. The B-school has said that the dean would make an important announcement tomorrow.

Rajat Gupta, the co-founder and chairman, announced his intention to quit after being accused of helping his friend and Galleon hedge fund chief Raj Rajaratnam with insider information about Goldman Sachs, where he was a director. The case is open before the US Securities and Exchange Commission.

Gupta's resignation comes on the back of other high-profile exits made by persons holding positions in ISB. Anil Kumar, another co-founder, quit in January last year after pleading guilty in the same Galleon-related case. Earlier, M Rammohan Rao had to quit as the dean in the wake of the Satyam scandal. Rao was an independent director on the erstwhile Satyam board.

ISB still has on it board business luminaries like Rahul Bajaj, in addition to Godrej and Analjit Singh.

The Godrej group is a consumer products conglomerate which makes locks, soaps, mosquito repellants, furniture and foods.