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Lakshmi Mittal


15 June 1950 (age 59) Sadulpur, Rajasthan, India London, England Indian [1] Marwari[3] St. Xavier's College,

Residence Nationality Ethnicity

Alma mater

Calcutta Bachelor of Arts/Science [4]

Lakshmi Mittal[3], or Lakshmi Niwas Mittal (Hindi: ; born 15 June 1950[4]), is an Indian industrialist based in the United Kingdom. He was born in Sadulpur village, in the Churu district of Rajasthan, India, and he resides in Kensington, London. He is the founder of Mittal Steel and has been the chairman and CEO of ArcelorMittal since the merge. He also serves as a non-executive director of Goldman Sachs, EADS and ICICI Bank.[5]. As of 2009, Mittal is the world's 8th richest person and richest person in the UK with personal wealth of US$19.3 billion.[6][7] Biography Career Mr. Mittal began his career working in the family's steelmaking business in India, and in 1976, when the family founded its own steel business, he set out to establish its international division, beginning with the buying of a run-down plant in Indonesia. Shortly afterwards he married Usha, the daughter of a well-to-do moneylender. In 1994, due to differences with his father, mother and brothers, he branched out on his own, taking over the international operations of the Mittal steel business, which was already owned by the family. Mittal's family never spoke publicly about the reasons for the split. The Mittal Affair: "Cash for Influence" Controversy erupted in 2002 as Plaid MP Adam Price exposed the link between UK prime minister Tony Blair and Mittal in the Mittal Affair, also known as

'Garbagegate' or Cash for Influence.[8][9][10] Mittal's LNM steel company, registered in the Dutch Antilles and maintaining less than 1% of its 100,000 plus workforce in the UK, sought Blair's aid in its bid to purchase Romania's state steel industry.

The letter from Blair to the Romanian government, a copy of which Price was

able to obtain, hinted that the privatisation of the firm and sale to Mittal might help smooth the way for Romania's entry into the European Union.[8] The letter had a passage in it removed just prior to Blair's signing of it, describing Mittal as "a friend."[12] In exchange for Blair's support Mittal, already a Labour contributor, donated 125,000 more to Labour party funds a week after the 2001 UK General Elections, while as many as six thousand Welsh steelworkers were laid off that same year, Price and others pointed out. As well as this, Mittal is a non-resident Indian residing in the United Kingdom for over 14 years. Because of this, he has been included on many unofficial Wealth-indicative lists as the richest man in the United Kingdom, when in actuality, the List held by the UK and Channel Island Treasury Authority lists no mention of name "Lakshmi (or derivatives) Mittal." Corus Group and Valkia Limited were two of the primary employers in south Wales, particularly in Ebbw Vale, Llanwern, and Port Talbot.[13] Queens Park Rangers Recently, Mittal had emerged as a leading contender to buy and sell Barclays Premiership clubs Wigan and Everton. However on 20 December 2007 it was announced that the Mittal family had purchased a 20 per cent shareholding in Queens Park Rangers football club joining Flavio Briatore and Mittal's friend Bernie Ecclestone.[14][15] As part of the investment Mittal's son-in-law, Amit

Bhatia, took a place on the board of directors. The combined investment in the struggling club sparked suggestions that Mittal might be looking to join the growing ranks of wealthy individuals investing heavily in English football and emulating other similar benefactors such as Roman Abramovich.[16] Personal wealth As of March 2009, Mittal is the world's 8th richest person with personal wealth of US$19.3 billion.[6] In 2008, Mittal was reported to be the 4th wealthiest person in the world, and the wealthiest in Asia, by Forbes Magazine (up from 61st richest in 2004) up one place since a year before. The Mittal family owns a controlling majority stake in ArcelorMittal, the world's largest steel company.[17] Personal life His residence at Kensington Palace Gardens was purchased from Formula One boss Bernie Ecclestone in 2004 for 57 million (US$128 million), making it the world's most expensive house, at that date.[18] It has 12 bedrooms, an indoor pool, Turkish baths and parking for 20 cars.[5] Kensington Gardens, currently owned by financier Noam Gottesman. The Guardian newspaper reported that the purchase price would be 127 million, which would set a record for the most expensive house ever sold in Britain. The paper noted that the house on "Billionaire's Boulevard" was expected to be the home of Mittal's son.

Wikinews has related news: Lakshmi Mittal tops Sunday Times Rich List Mittal's house in Kensington, London is decorated with marble taken from the same quarry that supplied the Taj Mahal. The extravagant show of wealth has been deemed the "Taj Mittal".[19] The Financial Times named Lakshmi Mittal its 2006 Person of the Year. In May 2007, he was named one of the "100 Most Influential People" by Time magazine. Charity After witnessing India win only one medal, bronze, in the 2000 Summer Olympics, and one medal, silver, at the 2004 Summer Olympics, Mittal decided to set up Mittal Champions Trust with US$9 million to support 10 Indian athletes with world-beating potential.[20].In 2008 Mittal awarded Abhinav Bindra with Rs. 1.5 Crore, for getting India its first individual Olympic gold medal in shooting. For Comic Relief 2007, he matched the money raised (~1 million) on the celebrity special BBC programme, The Apprentice. Bibliography

Tim Bouquet and Byron Ousey. Cold Steel (Little, Brown, 2008). Yogesh Chabria. Invest The Happionaire Way (CNBC - Network18, 2008).

Criticism and allegations Slave-labour allegations

Employees of Mittal have accused him of "slave labour" conditions after multiple fatalities in his mines.[21] During December 2004, twenty-three miners died in explosions in his mines in Kazakhstan caused by faulty gas detectors. Controversial self-bonus Lakshmi Mittal paid himself a bonus totalling GB1.1bn [22] out of company funds in 2004 after a takeover of a U.S.-based steelmaker, ISG. Environmental damage Lakshmi Mittal purchased the Irish Steel plant based in Cork from the Government for a nominal fee of 1. Three years later in 2001, it was closed, leaving 400 people redundant. Subsequent environmental issues at the site have been a cause for criticism. The Government tried to sue in the High Court to have him pay for the clean-up of Cork Harbour but failed. The clean up was expected to cost 70m.


2008: Padma Vibhushan 2007: Bessemer Gold Medal 2006: Person of the Year - Financial Times 2004: European Businessman of the Year - Fortune magazine 1998: Willy Korf Steel Vision Award - American Metal Market and PaineWebers World Steel Dynamics

1996: Steelmaker of the Year - New Steel


Indra Nooyi

World Economic Forum Meet, Davos 2008 October 28, 1955 (age 53) Chennai, Tamil Nadu, India Madras Christian College Education IIM Calcutta Yale School of Management Employer PepsiCo


Indra Krishnamurthy Nooyi (Tamil:

(born October 28, 1955 in Chennai, Tamil Nadu, India) is the Chairman and Chief Executive Officer (CEO) of PepsiCo, one of the world's leading food and beverage

companies.[2] On August 14, 2006, Nooyi was named the successor to Steven Reinemund as chief executive officer of the company effective October 1, 2006.[3][4] On February 5, 2007, she was named Chairman, effective May 2, 2007.[5] Forbes magazine ranked Nooyi third on the 2008 list of The World's 100 Most Powerful Women.[6] Fortune magazine has named Nooyi number one on its annual ranking of Most Powerful Women in business for 2006, 2007 and 2008.[7][8][9] In 2008, Nooyi was named one of America's Best Leaders by U.S. News & World Report.[10] Early life and career Indra Nooyi was born into a Tamil family. She completed her schooling from Banasthali High School, Kathmandu. She received a Bachelor's degree in Chemistry from Madras Christian College in 1974, and earned an MBA at the Indian Institute of Management in Calcutta. Begining her career in India, Nooyi held product manager positions at Johnson & Johnson and textile firm Mettur Beardsell. She was admitted to Yale School of Management in 1978 and earned a master's degree in Public and Private Management. Graduating in 1980, Nooyi started at The Boston Consulting Group (BCG), and then held strategy positions at Motorola and Asea Brown Boveri.[11] In addition to being a member of the PepsiCo board of directors, Nooyi serves as a member of the boards of the International Rescue Committee, Catalyst[12] and the Lincoln Center for the Performing Arts. She is a Successor Fellow of the Yale Corporation[13] and member of the Board of Trustees of Eisenhower Fellowships, and currently serves as Chairman of the U.S.-India Business Council.[11]

In 2007, she was chosen as a recipient of the Padma Bhushan award by the Government of India.[14] In 2008, she was elected to the Fellowship of the American Academy of Arts and Sciences.[15] PepsiCo executive Nooyi joined PepsiCo in 1994 and was named president and CFO in 2001. Nooyi has directed the company's global strategy for more than decade and led PepsiCo's restructuring, including the 1997 divestiture of its restaurants into Tricon, now known as Yum! Brands. Nooyi also took the lead in the acquisition of Tropicana in 1998,[16] and merger with Quaker Oats Company, which also brought Gatorade to PepsiCo. In 2007 she became the fifth CEO in PepsiCo's 44-year history.[17] Business officials rave at her ability to drive deep and hard while maintaining a sense of heart and fun. According to BusinessWeek, since she started as CFO in 2000[2], the company's annual revenues have risen 72%, while net profit more than doubled, to $5.6 billion in 2006.[18] Nooyi was named on Wall Street Journal's list of 50 women to watch in 2007 and 2008,[19][20] and was listed among Time's 100 Most Influential People in The World in 2007 and 2008. Forbes named her the #3 most powerful woman in 2008. Compensation Indra Nooyi has been named 2009 CEO of the Year by Global Supply Chain Leaders Group. [21] While CEO of PepsiCo in 2008, Indra Nooyi earned a total compensation of $14,917,701, which included a base salary of $1,300,000, a cash bonus of $2,600,000, stocks granted of $6,428,538, and options granted of $4,382,569.[22]

Politics In January 2008, Nooyi was elected Chairman of the US-India Business Council (USIBC), a non-profit business advocacy organization representing more than 300 of the world's largest companies doing business in India. Nooyi leads USIBC's Board of Directors, an assembly of more than 60 senior executives representing a cross-section of American industry.[23][24] Chairman and CEO of PepsiCo 2006 Present

Preceded by Steven Reinemund

Succeeded by Incumbent