The Godrej Group has broken new ground by instituting a 'young executive board', with S K Gupta of Godrej Agrovet as its chairman, to advise the management committee of the group. A unique concept, the young executive board will have eight directors from different Godrej companies in its fold.

The move is part of the group's initiatives to improve corporate governance, provide more opportunities to employees, and to transform itself into 'most preferred employers'. The members of the board, the oldest of whom is about 35, will continue to execute their functions in the group companies where they have designated responsibilities.

The board members, currently stationed in various parts of India, will meet occasionally for deliberations. Membership of the board will be rotational, and it will not be a statutory body. According to Adi Godrej, the chairman of the Godrej Group, the objective behind setting up the board is to use the knowledge and enthusiasm of young talent to take the group forward.

The board will be assigned projects on which to report to the group's top brass. Says C K Vaidya, executive director (corporate personnel), Godrej Industries: "The young minds may come up with conclusions that are different from the management committee's. The idea is to make sure that the seniors are able to capture new ideas properly and understand them thoroughly."