mangalore today

World’s youngest CEO Vivek Raj chosen for Summer Davos

Mangalore Today News Network

Mangalore, September 10:  CEO of Panama Group Vivek Raj, the world’s youngest CEO, told reporters at a press meet organized at Hotel Ocean Pearl on September 9 that Panama Mining Industries Corp Ltd. has been selected by the World Economic Forum for its potential growth prospect. He added that the World Economic Forum will present its new class of Technology Pioneers during Summer Davos, which will be held from September 13 – 15 in China. The World Economic Forum is the world’s most powerful body, which decides polices of world class corporate governance for the entire world, he said.


Explaining the selection process, he said that the benchmark for selecting a company is a minimum of USD 100 million (450 crores) in recognition of top business pioneers it has selected. The forum selects a few companies all over the world as global growth company, considering their turnover and performance. This year, top companies such as Pepsi, Airbus, Reliance, M&M, Infosys, as well as Panama Mining Industries will be present during the forum, he said.

Vivek Raj is the world’s youngest CEO, being only 28 years of age. Speaking about the honor just bestowed on him, he said the he is scheduled to meet CM B. S. Yeddyurappa, the CEO of Sinosteel, Queen of Jordon, CEO of Nestle, and the Chinese premier, who is to inaugurate the Summer Davos, in which he has been chosen to participate.

Mr. Raj also said that the group plans to help the public by donating to hospitals and charity homes. The Panama Group will also establish a new plant at Hosadurga with an investment of Rs. 40 crore for one million ton per annum, he added. “Some companies follow the scale of excellence, but some always set new scales of excellence,” he stated.

The Panama Group, which was launched in 2000, developed rapidly under the guidance of its young CEO and forayed into international fields. The Group is associated with trading of minerals, iron ore, limestone, bauxite, shipping, benefaction of iron ore, and much more. During the past decade, the group became the one of the significantly growing companies focusing on areas such as renewable energy, trade, mining, and others.

Today, the group is also associated with logistics operations. The company currently trades more than 35 million tons, including 17 minerals, annually and hires a young and energetic staff of 45.

The company plans to set up state-of-the-art beneficiation plant in Karnataka in partnership with the world’s largest steel plant companies to process over 5000 tons per day. Besides, the company plans to expand to Madagascar by 2010. The group has already expanded to sub Saharan Africa, India, Brazil, and South Africa.