Stocks

It's empty glass for media at Taj

Our Bureau Mumbai | Updated on November 14, 2017

GOLDMAN SACHS BOARD MEET

The Presidential suite at the Taj Mahal hotel in Mumbai attracted a lot of media attention on Thursday as the board meeting of one of the biggest global investment banks got underway.

Goldman Sachs decided to hold its board meeting in India, half way across the globe from where it is headquartered. Media persons snooping around in the hope of getting a quick byte from the bank's officials were shooed away by the hotel staff.

“Goldman Sachs has not called the media,” said one of the hotel's staff. Another claimed that there had been a “miscommunication” and there was no board meeting of Goldman Sachs happening at the Taj! This was despite being told that their own concierge had directed the media to the particular venue of the meeting at the hotel.

Attempts to get in touch with the Goldman Sachs media spokesperson at the venue were also thwarted by the hotel staff.

Speculation

Soon after, reports speculating on the meeting agenda were out, hinting that the management may have decided on splitting the roles of the Chairman and the Chief Executive both at present held by Mr Lloyd C Blankfein.

Mr Blankfein was among the 12-member board of directors present at the meeting at the Taj. The other members were steel company Arcelor Mittal's Indian-born Chairman Mr Laxmi N Mittal; Lead Director Mr John H Bryan, president and chief operating officer Mr Gary D Cohn, Mr M. Michele Burns, Mr Claes Dahlback, Mr Stephen Friedman, Mr William W George, Mr James A Johnson, Mr Lois D Juliber , Mr James J Schiro and Mr Debora L Spar.

According to reports, the entire top management of the New York-based investment bank is on a three-day sojourn to India. They will travel to Delhi on Friday to meet with the political leadership there. Meetings with the Reliance Industries Chairman, Mr Mukesh Ambani, the Tata Group Chairman, Mr Ratan Tata, the Tata Group Deputy Chairman, Mr Cyrus Mistry, the Aditya Birla Group Chairman, Mr Kumar Mangalam Birla, the Godrej Industries Chairman, Mr Adi Godrej, and the Essar Group CEO, Mr Prashant Ruia, were also on the cards, added reports.

>manisha@thehindu.co.in

Published on March 29, 2012

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