Rustom Tevqesni

Rustom Tevqesni · Chief Strategy Officer · India

Bring the commercial assumption into collective judgement

My contribution to a board

I would help directors examine what remains behind a persuasive strategic description. My experience includes repeat demand described too strongly, a licence percentage governed by a minimum, partner investment that left our own funding needs, and a range exit with continuing customer responsibilities. These cases offer questions rather than a universal method. I would use them alongside finance, people, legal and sector perspectives to understand the proposed commitment and the evidence supporting it. The board should be able to see what management knows, what it assumes and which authorised owners still have work to complete. I would also bring an account of my own classification error, because scrutiny is less useful if I treat my experience as immunity from the same shorthand I challenge in others. The contribution is to collective judgement about enterprise choices, with implementation, valuation and specialist interpretation remaining in their proper responsibilities.

Judgement in practice

01

Questioning the commitment behind a repeat-revenue description

I classified ₹42 crore of repeat-customer sales as contracted recurring revenue before separating ₹14 crore under defined current agreements from ₹28 crore discretionary reorders. The proposal was corrected and deferred, with ₹54 lakh commercial diligence funded. I would ask which relationship supports a revenue claim and what period and conditions remain relevant. Neither category establishes unconditional future receipts. The proposed ₹112 crore purchase did not complete, so there is no avoided-loss claim. My experience helps me ask a commercial question while leaving valuation and agreement interpretation to finance and qualified advisers, including when the wording being challenged was written by someone with substantial seniority.

02

Finding our retained commitment in another party's investment

Ten proposed franchise fitouts at ₹90 lakh each meant ₹9 crore funded by partners, but the model retained ₹3.2 crore inventory funding and ₹76 lakh annual support at Navqetri. I would ask whose commitment had reduced and what remained with the enterprise. The board chose a first wave of three subject to terms and readiness, with ₹31 lakh preparatory work. That is not proof of opened stores or returns. Directors can examine whether the residual account is complete without negotiating the contract themselves. They can also ask whether the smaller wave has been assessed on its own basis rather than assuming every original figure scales mechanically.

03

Keeping a continuing customer inside a range-exit decision

Retiring six pen models left a reviewed cohort of 12,000 historical unit sales and a proposed support route through March 2032. A ₹1.2 crore parts and service-planning budget was ringfenced, without treating it as an accounting provision or proof that every component would remain available. I would ask what the business intends to continue, who establishes feasibility and how its communication will reflect readiness. Past units are not a count of active owners or future requests. The oversight question concerns the completeness of the exit account, while technical, merchandise and legal colleagues retain the decisions about actual support and terms.

My first year on a board

My first year would begin with understanding how the receiving enterprise makes money, serves customers and allocates scarce resources. I would study the actual board and committee responsibilities with qualified guidance and complete the preparation still outstanding in this fictional profile. Through agreed channels I would follow selected strategic proposals from their main claim into the assumptions, dependencies and specialist assessments supporting them. I would ask the chair whether my questions improve the collective decision or drift into a second executive strategy process. I would not seek transaction material from unrelated companies or use protected information from my current employer. Learning should include the people and operating consequences that a commercial presentation can understate. A useful first year would show that I can connect those perspectives, accept correction and help a board make a conscious tradeoff without requiring management to adopt my preferred analytical style in every paper.

Conflicts and their management

Before receiving sensitive material I would disclose employment, the 0.6% employee holding and relevant relationships with the founding family, investors, suppliers, licence counterparties and prospective commercial partners. Qualified review should assess the particular institution and the matters likely to arise, rather than infer independence from the size of the holding alone. I would not bring another business's customer terms, acquisition papers or protected research into the boardroom. Disclosure must lead to practical decisions about access and participation, including whether recurring exclusions would undermine the contribution expected from me. Employer agreement and time also matter, especially during a live strategic transaction or unusually demanding commercial period. If current responsibilities leave inadequate capacity, a nominal annual allowance would not solve the problem. The proposed appointment should be workable before confidential access creates obligations I cannot meet consistently or relationships that cannot be managed through the agreed arrangements.

My independence statement

Executive employment, my 0.6% holding within employee ownership and relationships with family owners, growth investors, suppliers and commercial partners need qualified review. No existing statutory seat does not by itself establish independence.

Board and committee exposure

Presented to the Board or a committee

Navqetri Writing Stores

Commercial strategy and investment proposals presented through the CEO

January 2020 onward

Explains assumptions, dependencies and proposed commitments without claiming a statutory or committee appointment.

Committee contribution

Chair and member readiness
CapacityCommittees
Ready to joinStrategy or investment committee subject to actual remit and eligibility · Customer or risk committee examining commercial commitments

Capacity and preferences

Time available
23 days per year
Current directorships
0
Sectors
Consumer retail and institutional distribution · Businesses considering partner-led expansion · Enterprises reassessing product portfolios and continuing customer obligations
Company type
An enterprise that welcomes examination of the obligations inside its growth story
Company stage
Considering acquisitions, licence arrangements, phased expansion or product exits

The seat I am pursuing

I would explore one first non-executive appointment in a consumer or related enterprise whose strategic choices involve meaningful commercial commitments. A strategy, investment, customer or risk committee could be relevant only after its actual remit and my eligibility are examined. I do not claim readiness to chair from the CSO title or from presenting executive papers. Fictional registration is complete, but proficiency assessment remains unfinished and company-specific preparation is still required. Twenty-three provisional days must account for induction, reading, meetings, travel and exceptional demands. I would value a chair who expects a commercial perspective to sit alongside other forms of expertise and who welcomes discussion of an error I have owned. The role should use my ability to expose an assumption without making me responsible for running the transaction, allocating functional staff or approving management's detailed operating choices.

Governance learning and readiness

IICA Independent Directors’ Databank: Registered

Fictional IICA databank registration completed in August 2026. Proficiency assessment remains unfinished and no exemption is claimed; actual eligibility and appointment requirements require qualified review.

  • Complete the outstanding proficiency preparation and assessment
  • Learn enterprise oversight beyond consumer strategy recommendations
  • Practise distinguishing board challenge from directing management's commercial work