Gautam Thapar
Encyclopedia
Gautam Thapar is an India
n businessman, who is the chairman and the chief executive officer
of the Avantha Group
. Thapar is a billionaire and appears on the Forbes list with an estimates net worth of $2 billion. He received the Ernst & Young
Entrepreneur of the Year Award for Manufacturing in 2008.
, in Kolkata
. Karam Chand had initially offered the reins of the family business to Gautum's father, Brij Mohan Thapar, bypassing his oldest son Inder Mohan Thapar. However, Brij Mohan passed on the chance to his younger brother Lalit Mohan Thapar, giving lack of desire and inability to shoulder the responsibility as the reasons.
Gautam was educated at the prestigious Doon School. He then studied chemical engineering
at Pratt Institute
in the United States. When he failed to find a suitable job and found his US visa running out, Gautam returned to India.
The family's assets were divided into four in 1999, with Gautaum's older brother Karan parting ways in 2005. Gautam became the Chairman of Crompton Greaves
on 22 July 2004. When Lalit Mohan Thapar retired, he chose Gautaum over Vikram. In 2005, he handed over the reins of the business empire to Gautam, along with his voting rights, shares and most of his personal effects in his will.
Gautam Thapar became the Chairman of the Avantha Group on 1 July 2006. He is now on the Board of several companies in India and abroad.
. He is also on the Board of Governors of his alma mater, the Doon School. In 2010, he took over as the chairman of the board of governors of the Mumbai-based business school NITIE, for a 4-year period.
Thapar promotes golf and is President of the Professional Golf Tour of India (PGTI). He successfully staged the euro 1.5 million Avantha Masters
2010 in Gurgaon, India, an event tri-sanctioned by the European Tour
, the Asian Tour
and the PGTI
. He is also the founder-director of India's first auction house, Osian's.
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
n businessman, who is the chairman and the chief executive officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
of the Avantha Group
Avantha Group
Avantha Group is a business conglomerate in India chaired by Gautam Thapar. The US$ 4 billion company is one of India’s largest business conglomerates...
. Thapar is a billionaire and appears on the Forbes list with an estimates net worth of $2 billion. He received the Ernst & Young
Ernst & Young
Ernst & Young is one of the largest professional services networks in the world and one of the "Big Four" accountancy firms, along with Deloitte, KPMG and PricewaterhouseCoopers ....
Entrepreneur of the Year Award for Manufacturing in 2008.
Early life
Gautam Thapar belongs to the third generation of the business family founded by his grandfather Karam Chand ThaparKaram Chand Thapar
Karam Chand Thapar was the founder of the Thapar Group of companies.He was originally from Punjab. He started his career in 1920 as a coal trader in Calcutta, and built up the family fortune through . He then started JCT Limited that is into textiles as well as molasses and alcohol...
, in Kolkata
Kolkata
Kolkata , formerly known as Calcutta, is the capital of the Indian state of West Bengal. Located on the east bank of the Hooghly River, it was the commercial capital of East India...
. Karam Chand had initially offered the reins of the family business to Gautum's father, Brij Mohan Thapar, bypassing his oldest son Inder Mohan Thapar. However, Brij Mohan passed on the chance to his younger brother Lalit Mohan Thapar, giving lack of desire and inability to shoulder the responsibility as the reasons.
Gautam was educated at the prestigious Doon School. He then studied chemical engineering
Chemical engineering
Chemical engineering is the branch of engineering that deals with physical science , and life sciences with mathematics and economics, to the process of converting raw materials or chemicals into more useful or valuable forms...
at Pratt Institute
Pratt Institute
Pratt Institute is a private art college in New York City located in Brooklyn, New York, with satellite campuses in Manhattan and Utica. Pratt is one of the leading undergraduate art schools in the United States and offers programs in Architecture, Graphic Design, History of Art and Design,...
in the United States. When he failed to find a suitable job and found his US visa running out, Gautam returned to India.
Business career
Gautam Thapar began his career as a factory assistant in a manufacturing unit of the Avantha Group. At this time, Lalit Mohan (a lifelong bachelor), had been grooming Inder Mohan Thapar's son Vikram as his successor. However, Gautam gained Lalit Mohan's attention, and rose rapidly through the ranks. He first turned around the Group's ailing company, Andhra Pradesh Rayons (APR). Then, he nurtured the group company BILT's new export oriented businesses — leather, shoes and foods. Gautam didn't like the group's management style, and made his dissent clear. Impressed with him, Lalit Mohan gave him the responsibility to turn around the BILT's chemical division, which was suffering losses due to labour agitations and shortage of water and power. Gautam showed profits within a year, by scrapping the company's expansion plans, selling off a few assets and dealing firmly with the labour.The family's assets were divided into four in 1999, with Gautaum's older brother Karan parting ways in 2005. Gautam became the Chairman of Crompton Greaves
Crompton Greaves
Crompton Greaves is an Indian multinational engaged in design, manufacturing, and marketing of products related to power generation, transmission, and distribution based in Mumbai. Its part of Avantha Group. - History :...
on 22 July 2004. When Lalit Mohan Thapar retired, he chose Gautaum over Vikram. In 2005, he handed over the reins of the business empire to Gautam, along with his voting rights, shares and most of his personal effects in his will.
Gautam Thapar became the Chairman of the Avantha Group on 1 July 2006. He is now on the Board of several companies in India and abroad.
Non-business activities
Gautam Thapar is President of Thapar University and Chairman of The Aspen Institute IndiaAspen Institute
The Aspen Institute is an international nonprofit organization founded in 1950 as the Aspen Institute of Humanistic Studies. The organization is dedicated to "fostering enlightened leadership, the appreciation of timeless ideas and values, and open-minded dialogue on contemporary issues." The...
. He is also on the Board of Governors of his alma mater, the Doon School. In 2010, he took over as the chairman of the board of governors of the Mumbai-based business school NITIE, for a 4-year period.
Personal life
Thapar has four children, including two daughters from his second wife, Stephanie, a German.Thapar promotes golf and is President of the Professional Golf Tour of India (PGTI). He successfully staged the euro 1.5 million Avantha Masters
Avantha Masters
The Avantha Masters is a professional golf tournament on the European and Asian Tours. It was a new tournament for 2010, and marked the European Tour's return to India following the cancellation of the Indian Masters in 2009....
2010 in Gurgaon, India, an event tri-sanctioned by the European Tour
PGA European Tour
The PGA European Tour is an organization which operates the three leading men's professional golf tours in Europe: the elite European Tour, the European Seniors Tour and the developmental Challenge Tour. Its headquarters are at Wentworth Club in Virginia Water, Surrey, England...
, the Asian Tour
Asian Tour
The Asian Tour is the principal men's professional golf tour in Asia except for Japan, which has its own Japan Golf Tour, which is also a full member of the International Federation of PGA Tours. The Asian Tour is administered from offices in Singapore...
and the PGTI
PGA European Tour
The PGA European Tour is an organization which operates the three leading men's professional golf tours in Europe: the elite European Tour, the European Seniors Tour and the developmental Challenge Tour. Its headquarters are at Wentworth Club in Virginia Water, Surrey, England...
. He is also the founder-director of India's first auction house, Osian's.