CEOs protest against govt proposal for greater control over IIMs

A battery of powerful CEOs, many of whose careers were birthed at IIM-Ahmedabad, are rallying in protest against a government proposal seeking greater control over the 13 IIMs in the country.

"Any move to control IIM-A, now run autonomously, will bring down the standard of the institution as well as dilute a global brand," said AM Naik, executive chairman of engineering giant Larsen & Toubro, and also the chairman of IIM-Ahmedabad. "It will be like driving in reverse gear."

"It ain't broke. Don't fix it," said Phaneesh Murthy, chief executive officer of iGateBSE 0.00 %, who graduated from the institute in 1987. "It is amazing how with so many problems in education the government wants to divert its efforts to the one thing that is already working well."

An ET report on Tuesday outlined a government proposal to make IIMs accountable to an umbrella council headed by the Union HRD minister. The proposed law also dangled a carrot - it seeks to convert IIMs from registered societies into national institutions empowered to award degrees, not just diplomas as is the current practice.

While newer IIMs are happy to trade autonomy for the greater credibility that a degree brings, older institutes, led vociferously by IIM-A, didn't fancy the deal, ET had reported.

"I do not believe that issuing a degree is any great incentive for an IIM to lose its autonomy," said Manvinder Singh Banga, senior partner at the private equity fund ClaytonBSE -2.34 % Dubilier & Rice, and a former member of Unilever's global top management team. He is an IIM-A gold medallist (1977).

CEOs protest against govt proposal for greater control over IIMs
"A degree is most welcome, but without curbing (the) freedom of (IIMs)," echoed Kiran Karnik, former president of Nasscom, who also happens to be an IIM-A alumnus.

Most view the new proposal as a noose around IIMs' necks.



Keywords:battery, CEOs,IIM, AM Naik, executive chairman ,engineering giant Larsen ,Toubro, iGateBSE , Union HRD minister, institutes, autonomy, Manvinder Singh Banga,Unilever's global ,IIM-A gold medallist , Kiran Karnik,business news