Rajat Gupta facts for kids
Quick facts for kids
Rajat Gupta
|
|
|---|---|
Gupta in 2010
|
|
| Born |
Rajat Kumar Gupta
December 2, 1948 |
| Nationality | American |
| Education | IIT Delhi (BTech) Harvard University (MBA) |
| Employer | McKinsey & Company |
| Title | Senior partner emeritus, former global managing director |
| Criminal charge(s) |
|
| Criminal penalty |
|
| Criminal status | Convicted |
| Spouse(s) | Anita Mattoo |
| Children | 4 |
Rajat Kumar Gupta (born December 2, 1948) is an Indian-American business leader. He was the first foreign-born managing director of the big consulting company McKinsey & Company from 1994 to 2003. Later, he faced legal challenges related to business information and spent time in prison.
Mr. Gupta served on the boards of major companies like Goldman Sachs, Procter & Gamble, and American Airlines. He also advised important non-profit groups such as the Bill & Melinda Gates Foundation and The Global Fund to Fight AIDS, Tuberculosis and Malaria. He helped start several organizations, including the Indian School of Business and the American India Foundation.
Contents
Early Life and Education
Rajat Gupta was born in Calcutta, India. His father, Ashwini Gupta, was a journalist and professor. His mother, Pran Kumari, taught at a Montessori school. Rajat has three siblings.
When he was five, his family moved to New Delhi. Sadly, his father passed away when Rajat was sixteen. Two years later, his mother also died. Rajat and his siblings decided to live together, which was unusual at the time.
He attended Modern School in New Delhi. After high school, he did very well on the entrance exam for the Indian Institutes of Technology. In 1971, he earned a Bachelor of Technology degree in Mechanical Engineering from IIT Delhi. He then went on to get his MBA from Harvard Business School in 1973, graduating with high honors.
Career Highlights
Working at McKinsey & Company
Rajat Gupta joined McKinsey & Company in 1973. He was one of the first Indian Americans to work at the company. At first, he was not accepted because he didn't have enough work experience. However, a professor from Harvard Business School helped him get hired.
Gupta's mentors at McKinsey included Ron Daniel, who first hired him. He also helped mentor other Indian-American colleagues, like Anil Kumar. Gupta and Kumar were very important for McKinsey's work in India.
He started his career in New York. In 1981, he moved to Scandinavia to lead McKinsey's offices there. He did very well in this region. In 1984, he became a senior partner. By 1990, he was leading the Chicago office.
In 1994, he was chosen to be the firm's first managing director (CEO) who was born outside the US. He was re-elected twice, in 1997 and 2000. Many people see Gupta as one of the first Indian-born CEOs to lead a major global company. During his time as head of McKinsey, the company grew a lot. It opened offices in 23 new countries and doubled its number of consultants. Its income also grew by 280 percent.
After leading McKinsey for nearly a decade, Gupta became a senior partner again in 2003. He became a senior partner emeritus in 2007. This meant he was still connected to the firm but not in a daily leadership role.
Other Business Ventures
In 1997, Gupta helped start the Indian School of Business (ISB) with his friend Anil Kumar. This school is now ranked among the top business schools in the world.
He also helped create Scandent Solutions and the American India Foundation. After leaving his main leadership role at McKinsey, Gupta co-founded and chaired a private investment firm called New Silk Route.
He served on the boards of many large companies. These included Procter & Gamble (from 2007 to 2011) and the investment bank Goldman Sachs (from 2006 to 2010). He also served on the boards of Genpact, AMR Corporation (parent company of American Airlines), and Harman International.
Helping Others
Rajat Gupta has done a lot of work to help others. His efforts mainly focus on education, global health, and global business.
He has been involved with many universities and schools. He served on the boards and councils of places like the University of Chicago and Yale University. He also helped found the Indian Institute of Technology Alumni Association.
With Anil Kumar, he co-founded the Indian School of Business. He was the chairman of its governing boards. He also served on advisory boards for Harvard Business School, The Wharton School, MIT Sloan School of Management, and Northwestern University's Kellogg School of Management.
In global health, Gupta was a founding board member and chairman for The Global Fund to Fight AIDS, Tuberculosis and Malaria. He also helped start the Public Health Foundation of India. He was on the board of the Global Health Council and the Harvard School of Public Health. He was chairman of the advisory board for The Gates Foundation's Global Health Initiative.
He also co-founded the American India Foundation (AIF). This organization helps people in India and is based in the US. He started it after an earthquake in India in 2001 to help the victims. He also served as a trustee for the Rockefeller Foundation.
Throughout his career, Gupta has been part of many global business projects. He was chairman of the International Chamber of Commerce. He also advised UN Secretary General Kofi Annan on management reform. From 2008 to 2010, he was on the board for the World Economic Forum. He also chaired the U.S.-India Business Council.
Legal Challenges
In 2012, Rajat Gupta was found responsible for sharing confidential business information. This led to a legal case where he was found guilty of certain charges. He was sentenced to two years in prison and ordered to pay a fine.
His legal team appealed the decision, but it was upheld by a Federal Appeals Court in 2014. He began his prison term in June 2014. He was released from federal prison in January 2016 and completed his sentence under house arrest until March 2016.
After Release
In March 2019, Rajat Gupta published his memoir, Mind Without Fear. In the book and interviews, he shared his side of the story about the legal case. He explained that he did not speak during his trial based on his lawyers' advice.
Personal Life
Rajat Gupta married Anita Mattoo in 1973. They met at IIT Delhi. Anita was an electrical engineer. They have four daughters together.
