India Inc Betting High on 50 Plus CEOs to Revitalize Business

Bangalore: Few months ago they were called the 'over the hill' in job market jargon. But today the picture has turned completely upside down. Currently companies are rushing to hire 50 plus CEOs to boost up their sinking ships in these tough economic situations, reports Sagar Malviya & Ratna Bhushan of The Economic times.

Big names like Hindustan Unilever and Cadbury India have hired seasoned CEOs in the past couple of months trusting on their rich experience and maturity to revitalize the sleeping business in a tough macroeconomic environment.

"I see some changes in the mindset of companies. They are not using cliched terms like 'over the hill' for 50-plus senior executives, which they used when we presented CVs of prospective candidates," says Vibhav Dhawan, managing partner at executive search firm Positive Moves Consulting.

Lately, the FMCG giant Hindustan Unilever announced publically that 53-year-old SanjivMehta will succeed Nitin Paranjpe as CEO in October. Similarly, the French commodity giant Louis Dreyfus hired Adhiraj Sarin, 60 as CEO after his retirement from the rival company Bunge India, where he was serving as the MD.

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