Shashi Kiran Shetty

From Wikipedia, the free encyclopedia

Shashi Kiran Shetty
Shashi Kiran Shetty Allcargo Logistics.jpg
Born (1957-06-07) 7 June 1957 (age 64)
Bantwal, Mangalore, India
OccupationChairman and Managing Director, Allcargo Logistics Ltd.;
Chairman, ECU Worldwide;
Chairman, Gati
Spouse(s)Arathi Shetty
ChildrenVaishnav and Shloka

Shashi Kiran Shetty (born 7 June 1957) is the Founder and Chairman of Allcargo Logistics, part of the Avvashya Group. He is also the Chairman of ECU Worldwide and Gati Ltd which are part of the group.

Starting off from with humble beginnings, Mr Shetty has built Allcargo into India’s largest integrated private sector logistics company. The group has presence in over 160 countries through its 300 offices globally, carried out through ECU Worldwide, and over 10,000 employees.[1]

Under Mr Shetty’s leadership the group has had 10 successful international acquisitions – the most significant being that of ECU Worldwide, which at the time of acquisition, was nearly five times larger than its parent Allcargo. Through ECU Worldwide, the Group is the largest LCL (less than cargo load) consolidator in the world.

Mr Shetty spearheaded the strategic acquisition of Gati Ltd, one of India’s oldest and largest express distribution companies, into the Allcargo fold to further grow the Group’s business in its home market in 2020.

In 2020, the Government of India ’s, Ministry of Education appointed Mr Shashi Kiran Shetty as the Chairman of the Society and Board of Governors of the National Institute of Industrial Engineering (NITIE), one of India’s premier management engineering institutes, in 2020.[2][3]

Shetty was appointed a Commander of the Order of Leopold II by King Philippe of Belgium in 2015.[4]

Career[]

Shetty has a bachelor's degree in commerce from Shri Venkatramana Swamy College, Bantwal, Dakshina Kannada district, Karnataka. He moved to Mumbai for employment.[1]

Starting his career in the logistics industry in 1978 with Intermodal Transport and Trading Systems Private Limited, Mumbai, he subsequently moved to Forbes Gokak, a Tata Group company.[5]

With initial savings as seed funding of Rs. 25,000, Shetty at the age of 25 established his first business venture, Trans India Freight Services Pvt. Ltd.

In 1992, Shetty started Allcargo Logistics Ltd., with a vision to be an integrated logistics service provider. Under his stewardship Allcargo has been the first company in India to introduce LCL (Less than Container Load) services.[6]

In 1995, Allcargo Logistics became an agent of Belgium-based , the world's second largest LCL firm. Ten years later, Allcargo took 33.8% stake in ECU Line, now ECU Worldwide, and in the following year acquired the entire company. At the time of the takeover, ECU Line's revenue was five times the acquirer's revenue.[7][8]

In 2013, Allcargo Logistics acquired US based Econocaribe Consolidators and a controlling stake in Netherlands-based logistics company FCL Marine Rotterdam through its wholly owned arm Ecuhold NV.[9]

Allcargo Logistics rebranded all its international acquisitions as ECU Worldwide on 2 May 2016.[10]

In 2016, Allcargo Logistics also expanded into Contract Logistics with Avvashya CCI and offers auto, pharma, chemical, e-commerce and spare part logistics.[11]

Considering demand for warehousing and government policy changes, Allcargo Logistics forayed into logistics and industrial parks to provide Grade A warehousing under Allcargo Logistics Industrial Parks Private Limited in 2018.[12][13]

Allcargo Logistics acquired controlling stake in Hyderabad-based Gati Ltd. Shashi Kiran Shetty has been appointed as the Chairman at Gati.[14][15]

Personal life[]

Shetty is married to Mrs. Arathi Shetty, who is also one of directors of Allcargo Logistics. She also spearheads Allcargo’s CSR arm, Avashya Foundation.

His son Vaishnav, who graduated from Emory University in the USA, now heads Allcargo and ECU Worldwide’s digital initiatives. His daughter Shloka, who is currently studying in Northwestern University in Chicago, will graduate in 2021. Mr. Shetty’s brother-in-law Mr. Adarsh Hegde is the Jt. Managing Director at Allcargo Logistics.

In 2014, he bought Aashirwad, a bungalow in Bandra, Mumbai which was previously owned by iconic Bollywood superstar, the late, Rajesh Khanna.[16]

Interests[]

He enjoys collecting artefacts and artworks of upcoming artists.[17]

He is an avid golfer and takes keen interest in tennis, having bought a 30% stake in Singapore Slammers.[18]

References[]

  1. ^ a b "Kaka's Aashirwad is 'dream come true' for Bandra tycoon - Mumbai Mirror -". Retrieved 30 June 2016.
  2. ^ "Mr. Shashi Kiran Shetty nominated as Chairman, NITIE, Mumbai - Times of India". The Times of India. Retrieved 13 November 2020.
  3. ^ "Board Governor | NITIE". www.nitie.ac.in. Retrieved 13 November 2020.
  4. ^ "Indian business leader made Commander of the Order of Leopold II". portofantwerp.com. Retrieved 23 December 2016.
  5. ^ "Shashi Kiran Shetty, the man who turned R 25,000 into 3000 crore company and bought 'Ashirwad'- Daily Bhaskar -".
  6. ^ "Shashi Kiran Shetty, Founder & Chairman, Allcargo Logistics Ltd – NBM Media -".
  7. ^ "We will dilute stake to create liquidity – Live Mint -".
  8. ^ "Less than container load biz is recession proof: Allcargo chief – Hindu Businessline -".
  9. ^ "Allcargo acquires US based Econocaribe Consolidators – Economic Times -".
  10. ^ "Allcargo Logistics rebrands its global business- The Hindu-".
  11. ^ "Allcargo announces JV with CCI Logistics". The Financial Express. 25 August 2016. Retrieved 31 July 2020.
  12. ^ Manoj, P. "Allcargo in talks to raise ₹1,000 cr to fund logistics parks foray". @businessline. Retrieved 31 July 2020.
  13. ^ Manoj, P. "Allcargo makes space for Flipkart, Decathlon". @businessline. Retrieved 31 July 2020.
  14. ^ "Gati to return to profitability next quarter: Allcargo Logistics". The Economic Times. Retrieved 31 July 2020.
  15. ^ "Gati Appoints Shashi Kiran Shetty as New Chairman". BW people. Retrieved 31 July 2020.
  16. ^ "Meet Shashi Shetty: The billionaire who bought Rajesh Khanna's Rs 85 crore bungalow". The Economic Times. 3 September 2014. Retrieved 23 December 2016.
  17. ^ "Allcargo Logistics's Shashi Kiran office cabin signifies efficiency & passion –Economic Times-".
  18. ^ "Allcargo buys 30% in tennis league team-Live Mint-".
Retrieved from ""