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Rediff News  All News  » Business » What Rajat Gupta said before the sentence

What Rajat Gupta said before the sentence

October 26, 2012 17:15 IST

Your Honour, thank you for the opportunity. The last 18 months have been the most challenging period of my life since I lost my parents as a teenager. I have lost my reputation that I have built over a lifetime. The verdict was devastating to my family, my friends and me.

Its implications to all aspects of my life - personal, professional and financial - are profound. Much of the first year seemed surreal to me, however, since the trial, I have come to accept the reality of my life going forward.

Your Honour, I want to say here that I regret terribly the impact of this matter on my family, my friends and the institutions that are dear to me.

I had the privilege of touching many lives in many fields. I mentored many young people, and many more view me as a role model. I served on many boards and many advisory positions with institutions that I hold in the highest regard.

I have given a lot of thought to them during these last 18 months. These are extraordinary institutions and outstanding people, and I feel terrible that they have been burdened with totally undeserved negative attention. I apologise to them and ask for their forgiveness.

I spent my entire professional career at McKinsey. It is a close-knit, values driven partnership, known for the highest standards of integrity, for always keeping client confidences, for always acting in the client's best interest.

I am extremely sorry for the negative comments from clients and the press that McKinsey has had to deal with. I take some comfort that, given the strength of the firm, I hope that it will not suffer any long-term reputational harm.

I also often thought in particular about three not-for-profit organisations that I was fortunate to help create - the Indian School of Business, the Public Health Foundation of India, the America India Foundation. These are very young institutions and in the early years of developing a reputation. I love these institutions as if they were my own children. I never want to hurt them in any way.

It is a great disappointment that I have not been able to serve with any of these institutions during this time and may not be able to do so going forward. Most importantly, I regret terribly any potential damage to their outstanding reputations.

I have been blessed with many friends, going all the way back to high school and college, and I have stayed in touch with them. Many of them have followed my career, have cheered me along and taken pride in my accomplishments.

They continue to support me, and for that I am enormously grateful, but they have endured a sense of loss as a result of what has happened, and for that I feel responsible.

Business Standard