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Leadership & perspective

Chief Strategy Officer · India

2026-04-17 edition

Kunal Zhevqari

I examine the business we would have to become to serve a market, including the commitments that remain when we decide to leave it.

Kunal Zhevqari · Chief Strategy Officer · India

Question the institution inside the growth recommendation

My contribution to a board

I would help a board examine the business implied by a growth recommendation. A market number, an entry route and a transaction price can each appear clear while concealing different relationships and continuing work. My own market-boundary error makes me attentive to the question a figure actually answers. Export responsibility and later strategy work help me connect an attractive route with the institution required to support it. I would bring those questions into collective scrutiny while learning from directors with operating, financial, people and technical expertise. I would not arrive as a second strategy department or expect management to reproduce my former employer's choices. The contribution should improve the board's understanding of assumptions, alternatives and consequences. It should also retain the unfinished work of an earlier direction when a new one is proposed. I would need feedback on whether my questions clarify the enterprise decision and leave execution with the people responsible for it.

Judgement in practice

01

Correcting the commercial boundary inside a market estimate

I supported a ₹120 crore merchant-opportunity paper that included ₹45 crore of captive internal supply. The corrected estimate was ₹75 crore, with ₹38 lakh research and replanning cost and a proposed ₹36 crore expansion held. I would use the case to ask whether a board paper distinguishes category activity from the opportunity accessible through the proposed route. The corrected estimate was not our sales forecast, and the unspent proposal was not a saving. My responsibility for the original definition belongs in the account. Directors should be able to challenge the assumptions without becoming the market-research team or accepting a cautious share percentage as a substitute for a sound opportunity boundary.

02

Comparing the institution behind two routes to market

We chose ₹2.4 crore distributor-led launch scope over a ₹14 crore local-subsidiary proposal. The two routes differed in staffing, control and reach. Four of six distributors placed repeat orders in the first eighteen months; two did not. I would ask a board to consider the continuing work and authority each route would create, alongside the opening commitment. The budget difference did not establish an achieved saving, and the repeat count did not settle the programme's economics. A board can require a clear account of what management expects to learn and how later commitments will be assessed, while leaving actual partner, technical and jurisdictional decisions with their responsible owners.

03

Keeping the unfinished withdrawal within the strategic review

Leaving two distributor territories retained eleven open commitments. Seven were completed and four remained under review, with an ₹84 lakh transition provision approved by finance. I would ask whether the board's account distinguishes a change of direction from completion of the obligations created by the earlier route. The provision was not a claim of actual spending, and the four outstanding items were not automatically evidence of delay or dispute. Directors need to understand material consequences without taking over individual contracts. I would preserve that mixed state so the enterprise can assess the attention still required before treating the new direction as though it had released every resource from the old one.

My first year on a board

I would begin by understanding how the receiving enterprise reaches its customers and how those relationships connect with operations, finance and people. I would follow selected strategic commitments from their original papers through the authority that approved them and the evidence subsequently reviewed. That would help me learn which assumptions remained sound, which changed and how the institution responded. Induction should include listening to management through agreed channels, rather than conducting a parallel commercial investigation. I would ask the chair where my functional familiarity helps and where it risks narrowing the discussion. I would also study the enterprise's sector-specific duties and the responsibilities of any committee I joined. My aim in the first year would be a dependable contribution to collective judgement, with sufficient preparation to ask useful questions beyond strategy presentations. I would seek feedback on clarity, timing and respect for management's role, and adjust my approach as I learned the board's actual needs.

Conflicts and their management

Before receiving confidential papers, I would disclose my employment and relevant relationships with founders, the investment owner, distributors, customers, suppliers and transaction counterparties. A lack of personal shares would not remove those connections. Qualified review would need to examine the particular appointment and applicable independence, directorship and committee requirements. Market studies, acquisition material and partner records from Lerqavhi would remain confidential; an external seat would not make them available for reuse. I would establish with the chair how any exclusions would affect participation in the board's central decisions. If the resulting limits prevented a useful contribution, declining the appointment could be more responsible than accepting it with a long list of restrictions. Employer consent and time capacity would need reassessment when circumstances changed. I would treat disclosure as part of determining whether the role is workable, rather than as a statement completed after enthusiasm for the opportunity had already settled the decision.

My independence statement

Employment and relationships involving Lerqavhi's founders, investment owner, distributors, customers and transaction counterparties require review for any outside appointment. I have no personal equity or statutory seat, but those facts do not decide independence.

Governance learning and readiness

IICA Independent Directors’ Databank: Proficiency assessment passed

Fictional preparation includes IICA databank registration in May 2026 and a proficiency-assessment pass in September 2026. Appointment and committee requirements still need assessment for the actual role.

  • Broaden judgement across the whole enterprise rather than only commercial direction
  • Examine how strategic assumptions become institutional commitments
  • Develop constructive challenge while respecting executive and specialist authority

Committee contribution

Chair and member readiness
CapacityCommittees
Ready to joinStrategy or investment committee considering industrial market commitments, subject to remit and eligibility · Risk committee where commercial-route experience complements other skills

Board and committee exposure

Presented to the Board or a committee

Lerqavhi Workholding

Market entry, acquisition and withdrawal recommendations presented through the CEO

January 2021 onward

Explains strategic routes and their commitments; no statutory or committee-member status represented.

Capacity and preferences

Time available
20 days per year
Current directorships
0
Sectors
Industrial manufacturers · Businesses growing through distribution relationships · Enterprises reconsidering geographic or application coverage
Company type
An industrial enterprise that wants its growth direction to describe the business it will actually need to run
Company stage
Considering a new commercial route or revisiting commitments made under an earlier strategy

The seat I am pursuing

I would consider one initial non-executive opportunity in an industrial or distribution-dependent enterprise where commercial-route judgement adds to the skills already present. A strategy, investment or risk committee might be relevant after its remit and eligibility were examined. I do not infer readiness to chair a committee from thirty-nine years of executive work. My fictional registration and assessment pass support preparation but do not settle appointment suitability. The provisional twenty days must accommodate induction, papers, travel and unusual demands as well as scheduled meetings. I would want the board to expect participation across the enterprise, including issues on which I would initially need to learn more. The chair should be willing to challenge my commercial assumptions, just as I would challenge an attractive market account. A clear role, sufficient capacity and a manageable relationship position would matter more than acquiring a title quickly.