Iconic is a much-overused adjective in the corporate world, but it is still arguably the most fitting description of the leadership of Deepak Parekh. From budding entrepreneurs to seasoned business leaders, this gentle giant of a man from the Indian corporate firmament, continues to be an invaluable source of inspiration. We could gather this from what the industry A-listers and some of the the finest minds of India Inc, had to say about him. We could not help but also reach out to the leading women business leaders who have been the members of the jury under the chairmanship of Deepak Parekh, for the Express Awards for Women Entrepreneurs (ExpressAWE).
Here is what Zia Mody, one of India’s most respected corporate lawyers and the co-founder and managing partner, AZB & Partners, had to say about him: “Deepak is and will remain a legend for the institutions he has built which will thrive and prosper. Personally, having known Deepak for over 30 years I can say that he is a man always willing to listen. Wise and kind, he has a loving family behind him who has been his support.”
Also, she says, “there are very few who have the stature and respect he commands. And one thing is sure: he will never be forgotten. As it should be. Deepak will be constantly thinking of the further good he can do. With all the energy he still has in him.” Meher Pudumjee, chairperson of Thermax and one who is highly regarded for her ability to think ahead on issues that impact people and the planet like climate change, has this to say: “Deepak Parikh is someone I’ve always admired. A person with tremendous integrity, courage, wisdom & compassion.” Describing him as “a philanthropist at heart and as someone who has believed and worked towards making the ordinary, extraordinary,” she says: “I wish him great health and happiness as he retires after 4 decades of dedication, building this fine & trusted institution.”
Kris Gopalakrishnan, Philanthropist, co-founder of Infosys, chairman and co-founder of Axilor Ventures describes Deepak Parekh as a great institution-builder. “He has built an amazing institution. They say, slow and steady wins the race and today HDFC Bank has emerged as the fourth largest bank in the world in terms of market capitalisation and this is a great achievement.” That apart, one of his important contributions to the industry was his role during the Satyam Computer crisis. “The government approached him during the Satyam crisis and he stepped and played an important role in steadying the ship and the industry did not lose any brand value.” This is a point that is also underlined by Kiran Karnik, former president of Nasscom and one who was also on the government appointed board along with Deepak Parekh to lead Satyam following the crisis. Karnik describes Parekh as “a financial wizard with great foresight.”
To Harsh Goenka, chairman, RPG Enterprises, Deepak Parekh is a true titan of the financial world. He tweeted saying: “In DeepakParekh’s retirement, I feel the same today as I felt the day Sachin Tendulkar retired. A true titan in the financial world, a crisis advisor to both governments and many senior industrialists, he has been instrumental in making HDFC a trusted and a household name.” Also, in response to Deepak Parekh’s final letter to the shareholders of HDFC Ltd, T V Mohandas Pai, co-founder of Aarin Capital and former board member of Infosys, tweets: “A great Indian hangs up his boots! Thanks for everything Deepak, you founded and built one of India’s greatest institutions. Best for the future!”
CP Gurnani, CEO of Mahindra Satyam, says, “Deepak Parekh always reminds me of the old Raymonds advertisement about a ‘complete man’. Be it about his crucial role in the days of the Satyam crisis or as a sports lover, Deepak Parekh stands out as an amazing person.” Gurnani, who is himself retiring in December also says, “someday every human being has to decide when to change the pitch or track and I am happy that Deepak took this conscious decision.”
Deepak Jain, CMD of Lumax Industries and former president of ACMA highlighted his effort towards financial inclusion and said, “Deepak Parekh is an inspiration to the business community. His tireless efforts to promote financial inclusion, sustainable growth and corporate governance have set new standards and motivated countless business leaders.”