New York: Having found her to be the most
powerful women in India after the country's ruling alliance
chairperson Sonia Gandhi, business magazine Forbes has also
named ICICI Bank chief Chanda Kochhar among four women from
across the world to watch out for in the next 12 months.
In the latest edition of its 'world's 100 most powerful
women' annual ranking, Forbes has named Kochhar, CEO and MD of
the country's top private sector bank, at the 20th position.
Among the resident Indians on the list, Kochhar is ranked
next only to Gandhi, chief of Congress party and chairperson
of the country's ruling United Progressive Alliance.
In a separate list of four 'women to watch' in the next
12 months also, Forbes has named Kochhar alongside Xerox' CEO
Ursula Burns, Iceland Prime Minister Johanna Sigurdardottir
and Bank of America's Global Wealth Management President
Sallie L Krawcheck.
"(Kochhar) created a stir after becoming the first woman
boss of India's second-largest bank in May. Besides cutting
costs, she has been very conservative: solicits deposits but
doesn't spend a lot on marketing; issues bank credit cards
sparingly. (ICICI Bank's) net profits rose 18 per cent in the
last quarter over the previous one," Forbes said about Kochhar
in the list of 'Women to Watch'.
On her ranking in the Forbes list, Kochhar has said
"with great power comes great responsibility."
"It reminds me that there is a huge responsibility that I
am carrying on my shoulders... So, in a way that each one of
these things make me feel more grounded to say that there is a
huge responsibility on your shoulder and please perform it
with all responsibility and proactiveness," Kochhar said.
A long-time executive at ICICI Bank and instrumental in
transforming it into a retail and corporate banking
powerhouse, Kochhar became its CEO and MD on May 1 this year.
"Keep an eye on these leaders: The next 12 months could
be exciting--and terrifying," the US magazine said about the
four powerful women leaders from the main list.
About Xerox CEO, it said that Burns was the first
African-American woman to head a big public company and also
the first to succeed another woman.
About Iceland Prime Minister, it said "the onetime
stewardess won election in February on a plan to save a nation
in financial collapse. Has recapitalized banks, introduced
tough regulations and cut the deficit.
She's trying to push entry into the EU and adoption of the
euro, both unpopular and has warned Icelanders that their
"standard of living will contract sharply", it added.
On the Bank of America executive, it said a year after
being forced out of Citigroup, Krawcheck was back on Wall
Street, leading Merrill's 15,000-strong "thundering herd."
"Will her independence mesh with a fiercely insular
brokerage and bank? If she survives, she could end up running
BofA," it added.
Bureau Report
First Published: Sunday, August 23, 2009, 17:09