KOCHI: ‘From Kerala to the Corner Office! Priya Nair becomes the first woman MD & CEO of Hindustan Unilever Ltd in its 92-year history!’
The Kerala State Industrial Development Corporation (KSIDC) was quick to celebrate the moment on social media. Hailing Priya as a Malayali achiever, the Facebook post proudly declared that she had “just shattered the glass ceiling at India’s largest FMCG company.”
While Priya’s elevation to the top job at HUL made headlines across India, it also cast a sharp light on Kerala’s own corporate boardrooms, where women at helm remain glaringly absent.
Take a look at the over 30 listed companies headquartered in Kerala — Federal Bank, South Indian Bank, Dhanlaxmi Bank in the financial sector; Muthoot and Manappuram in gold finance; or Kitex Garments, V-Guard, Geojit Financial, Wonderla, and Kalyan Jewellers. Not one of them is headed by a woman.
Recently, Shalini Warrier, a senior banker and former executive director of Federal Bank, was seen as a strong contender for the MD & CEO position at the Aluva-headquartered bank. But in the final round, she was overlooked.
“It is true that we are a progressive state,” says V K C Razak, chairman of the Confederation of Indian Industry (CII-Kerala). “However, the society’s mindset prevalent in the country is reflected here too. The absence of women in top corporate posts is a direct result of a patriarchal mindset. ” Razak believes while change is essential, “it will take a long time for this thought process to shift.”
In the unlisted space, however, there are a few women who have made their mark. These include Sheela Kochouseph of V-Star Creations, Beena Kannan of Seematti, Pamela Anna Mathew of O/E/N India Ltd, and Harsha Thachery of Masalabox. But even they stand out as exceptions.
“Kerala society is deeply orthodox and patriarchal. Even in family businesses, you’ll rarely — if ever — see a name like ‘X and Daughters’. It’s always ‘X and Sons’. There’s a perception a married woman with children won’t be able to give 100% to the job. This bias lingers, even if the woman is more capable than her male counterpart,” she says.
Shalini believes there’s no single reason why women miss out on leadership roles. “It’s a mix of factors,” she says. “Women often hesitate to step forward unless they feel 120% sure they can deliver. This lack of self-assurance becomes a barrier.” She also points to societal expectations that push women toward marriage and family responsibilities just when their careers should be taking off.
“Only those with strong support systems manage to stay the course. And many boards still don’t fully recognise the value of diversity. So women have to keep proving themselves over and over.” She adds that while the situation varies across sectors, banking offers a more structured route. “The RBI selects candidates based strictly on merit. But even here, women must fight their way up.”
However, not everyone sees the picture as entirely bleak. Pamela argues that change is under way. “Several women are now heading successful companies,” she says.
“The number may be low, but keep in mind that Kerala doesn’t have too many listed companies to begin with. Look at the Women Entrepreneurs Network (WEN). Things are moving.”
However, Vivek Govind, president of TiE Kerala, remains sceptical. “Even in family-run enterprises, daughters are rarely seen as serious contenders for leadership. They are given token roles — posts that don’t carry real decision-making power,” he says.
Priya Nair’s rise may be a national milestone. But for Kerala’s women professionals, it seems the climb to the corner office remains a long and uphill journey.
Companies headed by women in state
V-Star Creations: Sheela Kochouseph
O/E/N India Ltd: Pamela Anna Mathew*
Seematti: Beena Kannan
Masalabox: Harsha Thachery was listed till 2003