2020 Indiaspora Business Leaders List Recognizes More Than 50 Executives of Indian Heritage Leading Global Corporations

PR Newswire

– Indian diaspora leaders are reaching the pinnacle of corporate success in greater numbers than ever before, with many using their platforms to advocate for social change

Indiaspora, a nonprofit organization of global Indian diaspora leaders from various backgrounds and professions, released today their inaugural list honoring executives of the Indian diaspora who are leading the largest global corporations in 2020.

Drawing from the latest editions of Fortune and Forbes U.S. and global lists, the Indiaspora Business Leaders List includes more than 50 executives who are serving at the helm of their respective company in the role of Chief Executive Officer, President, or Chairman of the Board.

The list includes immigrants from India as well as professionals born in countries such as UgandaEthiopiaEngland, and the U.S. The companies that the executives lead are headquartered in ten different countries, including the U.S., CanadaEngland, and Singapore.

“This inaugural list shares so many shining examples of the quintessential immigrant story,” said Indiaspora Board member Rajan Navani, Vice Chairman and Managing Director of Jetline Group of Companies. “Hardworking, enterprising, and innovative, these executives have achieved the highest success in their respective fields, often drawing on their Indian heritage to help guide and ground them along the way. No doubt they will inspire generations to come.”

Companies on the Indiaspora Business Leaders List collectively employ more than 3.6 million worldwide and account for a combined USD $1 trillion in revenue and $4 trillion in market capitalization.

The companies’ collective shares also outperformed the stock market, averaging 21 percent returns during the tenures of the leaders on the list, compared to the S&P 500, which offered 9 percent returns during the same time frame.

“It is gratifying to see the growing impact of individuals from the Indian community on business on a global scale,” said Indiaspora Board Member Arun Kumar, Chairman, and CEO at KPMG India, who also served as Assistant Secretary of Commerce in the Obama administration. “I have had the opportunity to work with several of the individuals on our 2020 Business Leaders List in a professional and personal capacity and can attest to their dynamism as leaders not only of their companies but also for the larger diaspora community. In addition, many of them bring a remarkable sensitivity to issues relating to social change.”

The 2020 Indiaspora Business Leaders List represents 56 executives and 57 companies, as Raj Gupta, an Indiaspora member, serves as Chairman of two companies on the list, Aptiv, and Avantor.

“I’m amazed to see how far we’ve come in terms of representation in business. There used to be only a handful of us leading corporations,” said Raj Gupta, former CEO of Fortune 300 company Rohm and Haas, and one of the first executives of the Indian diaspora to join the ranks of corporate leadership along with pioneers such as Indra Nooyi of PepsiCo and Dinesh Paliwal of Harman International. “Now that we are reaching prominence, I am eager to see how the next generation leaves its own legacy.”

Several executives on the list have led their companies in advancing social change by addressing racial injustice, climate and sustainability justice, and the disproportionate effects of COVID-19 through policy and financial commitments.

Tech industry leader Sundar Pichai, CEO of Alphabet, for example, has announced new goals for racial equity, including improving leadership representation of underrepresented groups at Google, and an “economic opportunity package” for the Black community. Ivan Menezes, CEO of British multinational beverage alcohol company Diageo, also led his company in creating a $20 million social justice fund in America.

Several leaders’ companies have created or contributed to funds in response to COVID-19. In addition, Sunny Verghese’s Singapore-based agribusiness and supply chain company Olam International donated COVID-19 testing kits to the government of Ghana. Francis deSouza, head of gene analysis company Illumina, is developing a test for the novel coronavirus using sequencing technology.

“It’s inspiring to see so many leaders of Indian heritage playing a significant role in business and in society,” said Ajay Banga, President, and CEO of Mastercard. “Our culture and our values are a common starting point (any chance we can get a bit more color here?). But it’s what we do with the opportunities presented to us that make a difference. And, when we lean into our diverse experiences to deal with challenges like the pandemic or racial injustice, we can have an even greater impact on the lives of those around us.”

The Indiaspora Business Leaders List also calls attention to the presence of a glass ceiling in which women, including Indian women, still face. Out of 1,000 companies represented on the Fortune 500 list, only 61 have women CEOs; the Indiaspora List has a marginally higher percentage of women, yet only accounts for 5 women out of more than 50 leaders.

For more information about the Indiaspora Business Leaders List, including information for each of the honorees, actions that the executives and their companies are undertaking in response to COVID-19, the current racial justice movement, and climate and sustainability needs, please visit here: https://lists.indiaspora.org/businessleaders/2020

The following lists were used to identify honorees: Fortune 500 (which features 1,000 companies), Forbes Global 2000, Fortune Global 500, and the Forbes Largest Private U.S. Companies.

2020 Indiaspora Business Leaders List

Rank

First Name

Last Name

Company

Title

Revenue (B)

1

Sundar

Pichai

Alphabet

Chief Executive Officer

$166.30

2

Satya

Nadella

Microsoft

Chief Executive Officer

$138.60

3

Arvind

Krishna

IBM

Chief Executive Officer

$76.50

4

Lakshmi

Mittal

ArcelorMittal

CEO, Chairman

$70.50

5

Raj

Subramaniam

FedEx

President, CEO

$69.70

6

Vivek

Sankaran

Albertsons

President, CEO

$62.46

7

Vasant

Narasimhan

Novartis

Chief Executive Officer

$48.60

8

Punit

Renjen

Deloitte Global

Chief Executive Officer

$46.20

9

Bharat

Masrani

TD Bank

CEO, Group President

$44.80

10

Mike

Mohan

Best Buy

President, CEO

$43.60

11

Bob

Patel

LyondellBasell Industries

Chief Executive Officer

$37.40

12

Rajeev

Suri

Nokia

Chief Executive Officer

$25.80

13

Revathi

Advaithi

Flex

Chief Executive Officer

$25.00

14

Sunny

Verghese

Olam International

Group Chief Executive Officer

$24.20

15

Prem

Watsa

Fairfax Financial

Chief Executive Officer

$20.70

16

Sanjay

Mehrotra

Micron Technology

CEO, President

$19.60

17

Saum

Sutaria

Tenet Healthcare

President, CEO

$18.50

18

Ajay

Banga

Mastercard

CEO, Chairman-elect, President

$17.00

19

Ivan

Menezes

Diageo

Chief Executive Officer

$16.80

20

Laxman

Narasimhan

Reckitt Benckiser Group

Chief Executive Officer

$16.40

21

Sonia

Syngal

Gap Inc.

Chief Executive Officer

$16.40

22

Siva

Sivaram

Western Digital

President

$16.10

23

Kevin

Lobo

Stryker

Chief Executive Officer

$15.00

24

Piyush

Gupta

DBS Group

Chief Executive Officer

$14.50

25

Raj

Gupta

Aptiv

Chairman of the Board

$14.40

25

Raj

Gupta

Avantor

Chairman of the Board

$6.04

26

Bob

Pragada

Jacobs Engineering

Co-President, CEO

$13.00

27

Shantanu

Narayen

Adobe

Chairman, CEO, & President

$11.60

28

Rajiv

Malik

Mylan

President

$11.50

29

Aloke

Lohia

Indorama Ventures

Group Chief Executive Officer

$11.40

30

Sri Prakash

Lohia

Indorama Ventures

Chairman of the Board

$11.40

31

Niraj

Shah

Wayfair

Co-Chairman, President & CEO

$9.10

32

Ravi

Saligram

Newell Brands

CEO, President

$8.90

33

Milind

Pant

Amway

Chief Executive Officer

$8.40

34

George

Kurian

NetApp

President, CEO

$5.60

35

Steve

Sanghi

Microchip Technology

CEO, Chairman

$5.30

36

Sumit

Singh

Chewy

Chief Executive Officer

$4.80

37

Reshma

Kewalramani

Vertex Pharmaceuticals

Chief Executive Officer

$4.80

38

Rahul

Kanwar

SS&C Technologies Holdings

President, CEO

$4.70

39

Gary

Bhojwani

CNO Financial Group

Chief Executive Officer

$3.90

40

Sandeep

Biswas

Newcrest Mining

Chief Executive Officer

$3.80

41

Samir

Kapuria

NortonLifeLock

President

$3.70

42

Sean

Aggarwal

Lyft

Chairman of the Board

$3.62

43

Francis

deSouza

Illumina

CEO, President

$3.60

44

Aneel

Bhusri

Workday

Chief Executive Officer

$3.60

45

Rajiv

Prasad

Hyster-Yale Group

CEO, President

$3.29*

46

Rakesh

Sachdev

Regal Beloit

Director, Chairman of the Board

$3.24

47

Dinesh

Lathi

Tailored Brands

CEO, President

$3.00

48

Aman

Bhutani

GoDaddy

Chief Executive Officer

$2.99

49

Prahlad

Singh

PerkinElmer

CEO, President

$2.88

50

Anant

Bhalla

American Equity Investment

CEO, President

$2.60

51

Jayshree

Ullal

Arista Networks

CEO, President

$2.40

52

Anirudh

Devgan

Cadence Design

President

$2.40

53

Nikesh

Arora

Palo Alto Networks

CEO, Chairman

$2.27

54

Sundaram

Nagarajan

Nordson

CEO, President

$2.25

55

Sharmistha

Dubey

Match Group

Chief Executive Officer

$2.10

56

Naren

Gursahaney

ServiceMaster

Chairman of the Board, Interim CEO

$2.08

57

Sumit

Roy

Realty Income

CEO, President

$1.50

58

Ajei

Gopal

Ansys

CEO, President

$1.50

Note: Raj Gupta appears twice on this list as the Chairman of two different companies.

* This is the revenue for Hyster-Yale Materials Handling, Inc. Hyster-Yale Group is HYMH’s operating company.