Chanda Kochhar And Her Graceful Exit!

By Ritika Jain in Trending 04/05/2018

Chanda Kochhar ascended the throne of one the most powerful bankers of India in an awfully male-dominated industry with much grace and power. She was a regular appearance in the global lists of ‘the most powerful’.

 

And, the appearances only made us hopeful for a bright future for women leaders.

 

Kochhar created a brand for herself with her leadership skills, in a way most CEOs could not. And, when the allegations of a possible conflict of interest were made against her, the brand was tarnished. Kochhar had always been in news for being such a phenomenal woman and leader but the evolving headlines every 2-3 days are sure to make a drift in the opposite direction as brand Kochhar shatters. The delay in making the decision to step down is not only bound to harm the investors but brand Kochhar too.

 

Chanda Kochhar

 

If reports are to be believed, ICICI bank is all set to provide Kochhar a ‘graceful’ exit by the end of this year before setting in to find another powerful leader to sail the boat. Kochhar’s tenure ends in March 2019 and the board is leaving no stone unturned to provide homage to its leader for a decade. It could also be a logical move as 10 years is a long time for a person to remain at the same post. But, the decision at this time only blurs the shareholders’ interests. The bank might have a responsibility towards its CEO but it has a greater responsibility towards the shareholder’s.

 

The bank might have cleared her name in the quid pro quo but the lack of judgment on Kochhar’s part in not excusing herself from the committee that cleared the loan, could not be ignored.

It is strange for a banker like Kochhar to take a decision that might prove detrimental to her career.

 

 

What if all this is a scheme by powerful enemies to bring her down?

 

It is not be very tough to contemplate this strategy at a time when India’s banking system is clogged with more than $200 billion in stressed loans, most of receivers being large business groups, it is not very unlikely that this hypothesis actually proves to be true. The change in the bankruptcy law is making business families fear losing prized trophies for non-payment of debt.

 

Kochhar’s silence through the interrogation of her brother-in-law could be justified as she had no obligation to disclose her brother-in-law’s involvement as he isn’t defined as a relative under the law. But, her seemingly reverse personality behind the shield of the board is not going to gain her anything. Stepping aside would be the right and the smart thing to do at the moment. It wouldn’t take much time for the storyline to change – from that of a phenomenal leader who transformed ICICI to who wanted to stick to the throne no matter what.

 

The CBI investigation could be awfully slow and could take a while, and thus, Kochhar’s wait to clear her name could be exhausting. But then, for a leader like Kochhar this argument holds no valid point against her responsibility towards the bank and the shareholders.

 

Chanda Kochhar has already lost her demeanor amidst all the allegations. Kochhar’s zipped lips have already deteriorated her brand value; the more the silence the greater the loss. This scandal is likely to drag on causing shareholders a lot more loss than it has already done. We have always believed in the powerful, dignified and graceful side of Kochhar’s personality and this clinging attribute of her personality is only making us lose hope in women leaders.

 

Ritika Jain

Ritika has been working as a freelancer in content creation and editing for about 2 years now.Also worked as a content editor with S Chand Group of companies and have interned as an assistant content editor with McGraw Hill publications. She’s currently freelancing as a content writer/blogger with some publication houses and a few social media start ups.
Ritika has gained experience in different genres of writing while woking with these various organisations. A curious soul and an avid reader, Ritika likes experimenting with her writing style and have written various blogs and articles.


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