OYO brings in more former McKinsey consultants for key roles

16 January 2020 Consultancy.asia

Expanding accommodation platform OYO has continued its recent trend of hiring ex-McKinseyites to key leadership positions with a number of recent appointments.

As it continues its assault on the global accommodation market, Indian-origin rental platform OYO has engaged the further support of former McKinsey & Company consultants to help guide the rapid growth. In its most recent appointment, Raj Kamal, previously McKinsey’s payments practice leader for the Asia Pacific, has been named as the COO of OYO’s Vacation Homes division in the UK and Europe.

“We are delighted to have Raj join our leadership team,” said OYO Hotels & Homes Chief Strategy Officer Maninder Gulati, who previously spent two and a half years as an associate at McKinsey. Having someone of his calibre with a deep understanding of global businesses will be instrumental in accelerating our efforts. Having known him, I have tremendous respect and appreciation for his leadership and execution abilities.”

The news came one day after a trio of promoted leaders were named for OYO’s business in India and South Asia – including Sharad Saxena (altogether close to four years at McKinsey) to Chief Supply Officer, Franchise business – and follows OYO’s late December recruitment of ex-McKinsey global real estate transformation practice lead Ankit Gupta as its Chief Operating Officer of Frontier Businesses for India and South Asia.

OYO brings in more former McKinsey consultants for key roles

Both previously partners at the world’s leading management firm, Kamal and Gupta share over a quarter of a century of McKinsey experience between them. Kamal spent 12 years at the firm from 2003, and in addition to its payments practice previously also led its Asia Pacific asset management practice, while Gupta notched up nearly 15 years dating back to 2005, serving as India sales & marketing service co-leader during that time.

“I am excited about working alongside someone with the pedigree and gravitas of Ankit,” said, OYO India & South Asia CEO Rohit Kapoor – a ten-year veteran of McKinsey – who described the appointment as marking an exciting new chapter. “His industry knowledge coupled with financial expertise will help us drive the next phase of sustainable growth for frontier businesses while remaining true to our core mission.”

As reported at the time of alumni Mandar Vaidya’s appointment to head up OYO Southeast Asia and Middle East operations last year, the concentration of former McKinsey consultants and those from other leading firms is no coincidence; “We had created a (hiring) formula, in fact – of ITC, P&G, Hindustan Unilever and Schlumberger, plus McKinsey, Bain, and BCG,” Gulati previously confirmed.

Among the other fresh appointment announcements, Rishabh Gupta, who will replace former Bain & Company consultant Jeremy Sanders as OYO’s Head of UK & Ireland, spent two years at Deloitte Monitor in Delhi and Mumbai, while Abhinav Ankur, recently promoted to Head Strategy for India and South Asia, originally joined the firm from Accenture. Meanwhile, the company has just confirmed widespread layoffs, including over one tenth of its staff in India.