Comments on: How Rajat Gupta corrupted McKinsey http://blogs.reuters.com/felix-salmon/2011/05/19/how-rajat-gupta-corrupted-mckinsey/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: gailmarold http://blogs.reuters.com/felix-salmon/2011/05/19/how-rajat-gupta-corrupted-mckinsey/comment-page-1/#comment-26845 Fri, 20 May 2011 14:24:28 +0000 http://blogs.reuters.com/felix-salmon/?p=8321#comment-26845 Felix, on behalf of Genpact, I must clarify the inaccuracies in your post. First, I have provided the following statement to Bloomberg Markets and Businessweek, the originators of these feature stories on Mr. Gupta:

“Rajat Gupta was a non-voting advisory director for Genpact from 2005-2007 and a voting director and chairman of our board from March 2007 to March 2011. Contrary to what is stated in these recent articles, Mr. Gupta was not at any time engaged by Genpact to provide consulting services in his individual capacity. Mr. Gupta’s association with Genpact has always been public information and all compensation paid to Mr. Gupta by Genpact for his services as a director has been fully disclosed as required by the rules of the US Securities and Exchange Commission. “

Further, the options that Mr. Gupta received from Genpact during his time as an advisory director were designed to not vest until he became a full-time director, as he did in 2007.

Second, as background, Genpact (NYSE: G) is a $1.2B global business services company that was founded as a division of GE in 1997, now with more than 400 clients around the world and more than 48,000 employees now that we recently made a $550 acquisition of Headstrong. Per our year-end 2010 financials, revenues from GE businesses comprised 38% with 62% coming from other global clients. We continue to increase our revenues from both GE businesses and global clients.

It is important that the facts are reported correctly. Thank you very much.

Gail Marold
Genpact Public Relations
gail.marold@genpact.com
919-345-3899

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By: dedalus http://blogs.reuters.com/felix-salmon/2011/05/19/how-rajat-gupta-corrupted-mckinsey/comment-page-1/#comment-26824 Fri, 20 May 2011 01:49:58 +0000 http://blogs.reuters.com/felix-salmon/?p=8321#comment-26824 Felix,

fwiw, years ago Nicholas Lemann wrote a long annihilating essay about consulting firms that included some choice quotes from Rajaratnam.

Lemann’s piece was such a beautiful take-down its still worth rereading today.

http://www.newyorker.com/archive/1999/10  /18/1999_10_18_209_TNY_LIBRY_000019363

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By: klhoughton http://blogs.reuters.com/felix-salmon/2011/05/19/how-rajat-gupta-corrupted-mckinsey/comment-page-1/#comment-26791 Thu, 19 May 2011 15:22:19 +0000 http://blogs.reuters.com/felix-salmon/?p=8321#comment-26791 “Genpact, whose sole client is GE,”

Uh, no. Started that way–it’s a GE spinoff–but has consulting relationships with a bunch of other firms. And that was before it bought Headstrong at the end of last month.

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