NAME: SANJEEV AGGARWAL
STATE: IBM Daksh
Aggarwal is moving on. The co-founder of Daksh, who sold the company
to IBM for Rs 750 crore in 2004, is planning to set up a $140
million (Rs 644-crore) technology fund called Helion in partnership
with Kanwaljit Singh and Ashish Gupta. It's an emotional time
for him. Aggarwal had set up Daksh (now IBM Daksh) in 2000 with
$2 million (Rs 9 crore) in venture capital funding, three partners
and 10 employees. Since then, he has piloted it to the numero
dos spot in India's business process outsourcing world; it now
has an employee roster of 20,000 and 30 clients worldwide. Incidentally,
it was Gupta who introduced Aggarwal, a be and MBA from Punjab
University, to Pavan Vaish, coo and another co-founder of Daksh,
who will hold fort as interim CEO once Aggarwal leaves.
But becoming a poster boy of the Indian outsourcing
boom wasn't quite on Aggarwal's mind when he started his career
in the early 80s. Beginning his career with DCM, he moved to Compaq,
3Com and Motorola. It was his stints with the US companies that
opened his eyes to the opportunities in the outsourcing space.
He realised that a lot of the work being done in the US could
be done in India at a fraction of the cost. Thus, the idea of
Daksh was born.
A low profile person, Aggarwal prefers to
stay away from the spotlight. People who've worked with him say
he's very good at strategic thinking and at identifying the right
levers to push to get things done. His management style is also
quite open. "He sets the broad direction and lets people
execute the plan," says Vaish. He is also "extra-generous
and fair to people," he adds. Because of this even those
who have left Daksh remain emotionally attached to it.
Aggarwal planned his departure very carefully.
"Sanjeev wanted to ensure that his baby continues to thrive.
His leaving is like marrying your daughter away," says Vaish.
But why is he leaving? "I'm leaving in search of new intellectual
challenges," says Aggarwal.