Mrinalini Gupta quits HT; Anand Bhardwaj tipped to take over

Mrinalini Gupta, vice-president, marketing, Hindustan Times, has put in her papers. Forty-something Gupta, who has worked with the media house for close to two-and-a-half years, cleared her desk at her Barakhamba Road office in New Delhi, on Saturday, September 6. While confirming her move, Gupta - who has earlier worked with JWT, Dabur, NIIT and Microland Group company IT Space - refused to be dragged into any discussion on her departure.

agencyfaqs! has also learnt that Anand Bhardwaj, who is currently, senior associate director, Lowe, is likely to join the media house by end-September/early-October. Bhardwaj remained uncontactable through the weekend, while senior officials at HT refused to comment on this probable move.

If Bhardwaj were to join HT, it would be a quick move for the 45-year-old advertising and marketing professional, who joined the Interpublic group agency only in February this year. Prior to Lowe, Bhardwaj was with Electrolux Kelvinator, the Indian subsidiary of Swedish white goods manufacturer AB Electrolux, for four-and-a-half-years. Again, if Bhardwaj were to join HT, he would be coming in at a time when the media house is preparing for a big thrust ahead.

Earlier this month Hindustan Times group vice-chairman, Shobhana Bhartia, told The Times of India that Henderson Global Investors has bought a 20 per cent share in Hindustan Times Media Ltd, a company floated for its proposed Mumbai operations. (UK-based Henderson Global Investors is a private equity fund and it has also invested in Bharati Televentures.) HT earmarks this infusion of equity, worth Rs 125 crore, for expansion.

With this money in its war chest, Hindustan Times plans to fulfill its long cherished dream of entering Mumbai, the stronghold of rival The Times of India. Under the existing Government policy on foreign investment in the print media, an overseas investor can acquire up to 26 per cent in a company owning a news publication. However, the control over the management of the company and the editorial control of the news publication have to remain in Indian hands.

Simultaneously, HT is undergoing a design revamp, with the assistance of an US-based design outfit. The first product to hit the market with a new look, in all probability, would be HT City. This is slated to happen by this month end. Over the next month or so, all of HT will get a spanking new look. © 2003 agencyfaqs!