Venkatachari Jagannathan, 26 October 2007
Chennai: Top level changes have taken place silently at the Bangalore-headquartered
Adecco India (formerly Adecco Peopleone Consulting).
Sudhakar Balakrishnan has been promoted as the chief executive officer of Adecco
India and Middle East operations.
He was earlier chief operating officer and director of Adecco Peopleone Consulting for
seven years and one of its founding members. His elevation comes after Ajit Isaac resigned his post as the company''s CEO. Isaac was the original founder and managing director of Peopleone Consulting/Adecco Peopleone Consulting. It is learnt Isaac is starting a new business venture. Another senior executive Ramesh Handa too has recently quit the company.
In 2004 Swiss-based Adecco S.A, bought a 67-per cent stake in Peopleone Consulting
for an undisclosed sum, which was renamed Adecco Peopleone Consulting.
According to Balakrishnan, the remaining 33-per cent stake was acquired by Adecco
between 2004 and 2007. In September this year Adecco India became a wholly owned
subsidiary of the Swiss company and Isaac moved out on the 2nd of this month.
"Isaac has moved out after selling his stakes. It is natural and nothing unusual. The
transition at Adecco India was smooth," says Balakrishnan. On the resignation of Handa and others he says, "Handa moved out on his own. Attrition levels in this industry are high and it is normal."
Meanwhile Balakrishnan has some interesting growth plans for Adecco India that has 38
branches in the country. According to him the company would focus on retail and hospitality sectors and grow its staffing solutions division to the size of 70,000 temps by the end of 2009. "Currently we are growing at 50-60 per cent annually. We have 39,000 temps on our rolls now and by the end of this calendar year the number would grow to 45,000.
The 2009 target is not difficult to achieve." The company has 700 full time staffers on its rolls. A post graduate in human resource management from Madras School of Social Sciences, Balakrishnan is also in-charge of Adecco''s operations in the Middle East. Prior to joining Peopleone Consulting, Balakrishnan was the head-HR at Sify Technologies Limited formerly Sify Limited.