The Last Straw By 1996, six years into its incorporation, Marico looked and felt like a different company. Sales had quadrupled and profit...
The Last Straw
By 1996, six years into its incorporation, Marico looked and felt like a different company. Sales had quadrupled and profits had doubled despite huge investments in infrastructure, factories, labs and offices. Marico’s efforts at brand building and culture development had laid a foundation for future growth. Backed by these successes, Harsh was emerging from the shadow of his elders and was gaining the respect and admiration of his corporate peers. Remarking on these progressions, Harsh said, “It was indeed a nice feeling to win recognition and laurels, particularly after years of anonymity and toil.”
Meanwhile, the other branches of the Mariwala family were grappling with the changes wrought by the demerger. While the family recognised that the changes were in the right direction for Bombay Oil, there were new realities and challenges with the arrival of winter. The Mariwala elders had to find new ways to keep themselves engaged. The system of a common treasury was no more in practice. Each business had to generate its own resources for investment and growth. The subsidiary companies now run by the Mariwala cousins as CEOs met the family board once each quarter to apprise them of their company’s performance.
Harsh’s cousin Rajen, the CEO...
