Marico (C): David and Goliath (Separating Ownership and Management, and Going Public)

This caselet captures a critical turning point in the Marico journey as the joint ownership and separate management model collapses due to a breach of trust. Harsh Mariwala decides to take Marico public to buy out the shares of the other family business. Further, Marico faces an external threat from a much larger industry competitor, prompting questions about how smaller firms can defend their market position. The case raises broader themes around professionalization, succession, governance, and how entrepreneurial ventures respond to both internal family dynamics and external competitive pressures.