When Lord Karan Bilimoria stepped down as chancellor of the University of Birmingham in July 2024, it marked the end of an era. For a decade, he had been the face of one of Britain’s leading universities, a position he described as a "privilege and an honour." But it was not the only seismic change in his life. In 2024, he also relinquished his role as chairman of Cobra Beer, the company he built from scratch into a household name.
“It was a great change for me in many ways, both personally and geopolitically,” he told The Power List. “They (University of Birmingham) brought in a rule before I became chancellor that it's a maximum of two-five-year terms, literally to the minute. So, at midnight on the 16th of July, I had to step down. My mother attended Birmingham, my uncle attended, my grandfather attended. It was just a joy to be chancellor, and I do miss it.”
The other farewell, stepping away from Cobra Beer, was an even more profound moment. The company had been part of his life for more than three decades. It was a journey which took him from a student with a dream, to an entrepreneur navigating financial crises, global economic downturns, and pandemics.
“I had the joint venture with Molson Coors, it was meant to be for 10 years. We extended it for another five years. One of my objectives was to settle my creditors and look after the people who invested in me. I’ve now been able to settle 99 per cent of my creditors and also look after people who supported me, like my shareholders. I had no legal obligation to do that, but if I could read out some of the messages and emails I’ve received, they’ve brought tears to my eyes.”
His sense of duty and responsibility sets him apart in the cutthroat world of business. Many entrepreneurs have taken advantage of bankruptcy laws to reset and start again. But Bilimoria refused to leave debts unpaid.
“I’m told that it has never happened before in this country, and I just felt it was the right thing to do,” said the crossbench peer. “Many people thought it wouldn’t be possible. There was a BBC documentary about me, and in it, a very famous individual said publicly, ‘I don’t think you’re ever going to be able to do it.’ And we did. Even with the pandemic and the Ukraine war making things harder, we did it. Cobra Beer still made a profit in 2020 when most companies made losses. That’s how resilient this brand has been.”
If there were one word which defines Bilimoria and his journey, it is resilience. In 2009, the financial crisis nearly brought Cobra Beer to its knees. The company had been growing at a phenomenal “40 per cent compound” for 18 years. But rapid expansion came at a cost – mounting debt. At its peak, Cobra Beer was valued at £100 million, and Bilimoria was on the brink of securing a game-changing investment. Then, everything collapsed.
“We had the biggest drinks company in the world at that time committed to investing £30 million for 30 per cent of the company. Our board agreed, and then they got cold feet at the last minute. We’d run out of money. Two weeks before Lehman Brothers collapsed, I managed to get funding from an Indian bank—on a personal guarantee worth tens of millions of pounds. If it had been after Lehman’s went bust, they wouldn’t have lent me the money.”
Even then, survival was not guaranteed. Cobra’s biggest financier forced him to sell the company. It took nine painful months to secure a joint venture with Molson Coors. “That deal saved the business and the brand,” he explained.
The emotional toll of those years was immense. The risk, the personal debt, the sleepless nights would probably have broken a lesser man. But Bilimoria kept going. “Being an entrepreneur is about having guts,” he said stoically. “Many people have ideas, but how many actually take the risk? And once you do, do you have the guts to stick with it when others would give up? That’s the essence. Can you keep going through crises? If you have a strong brand, a supportive team, and integrity, you can get through anything. My wife has been by my side since a year after I started Cobra, she’s supported me all the way.”
Even in the darkest days, he put his employees first. When the joint venture was struck, he made it clear that every employee who lost their job would receive full redundancy, not just the statutory minimum. “Otherwise, I wasn’t going to do the deal,” Bilimoria revealed. “My employees came first. And when my shareholders were wiped out, I resolved to look after
The notion of leadership is ingrained in his DNA. His father, a senior general in the Indian army, led with a philosophy of selflessness which has shaped Bilimoria’s own approach. “The motto of the Indian Military Academy is, the safety, honour, and welfare of your country come first, always and every time. The troops you command come second, always and every time. Your own safety and welfare come last, always and every time. That’s how I was raised. There’s an element of leading from the front, but more importantly, there’s a huge element of service leadership.”
When asked whether south Asian leadership differs from that of their white British counterparts, Bilimoria hesitates to generalise.
“It’s very easy to say, ‘south Asian leaders’ as if we’re all the same,” he explained. “Within south Asia, different communities have different approaches. Take the Zoroastrian Parsis. We’ve had a wonderful reputation for being good business leaders. Look at the Tatas, for example. When Ratan Tata passed away, it wasn’t just the Parsi community that mourned. It wasn’t just the business community in India. The whole of India mourned. That’s because he led with humility, compassion, and integrity.”
The tragedy of the 2008 Mumbai terrorist attacks, which saw gunmen storm multiple locations across the city, including the Taj Mahal Palace Hotel, reinforced the Tata ethos of responsible leadership. “The way Ratan Tata looked after the families affected by that tragedy, to this day, with no questions asked, that is caring leadership.”
Bilimoria is a titan of industry, but he is quick to challenge the stereotype of the cutthroat businessman for whom profit is paramount. “Sadly, I’ve seen it many times,” he agreed. “People who worship their customers but bully their suppliers and employees in the pursuit of huge profits. That’s completely the wrong way to do business.” His approach is one of partnership, fostering relationships with customers, suppliers, shareholders, and employees alike. It is, he believes, the key to sustainable success.
Looking ahead to the next 12 months, Bilimoria’s priorities are clear: global peace, economic prosperity, and a renewed relationship with Europe. “My biggest wish is for peace in this conflicted world. What’s happening in Ukraine, 80,000 amputees in Ukraine alone, it’s tragic. If President Trump feels he can bring peace, I hope he can.”
Closer to home, he wants to see a government that actively works with business. “We need the free trade agreement with India finally concluded. These negotiations started when I was president of the CBI in early 2022. We need a deadline, I’ve suggested 30th June.”
But perhaps his most candid remarks come when discussing Brexit.
“Brexit was a huge mistake. It was an act of self-harm. Almost every speech I give, I ask the audience, ‘Do you think Brexit was a mistake?’ And I’m not exaggerating, 99 per cent of hands go up. We need to get closer to Europe again. We were a gateway to Europe. We can be that again.”
If anyone thinks Bilimoria is preparing to take a back seat, they are mistaken – he is not a man who rests on past laurels. He is now chair of the International Chamber of Commerce UK, an organisation representing 45 million businesses across 170 countries. “I’m excited about the role,” he said. “It’s the only business organisation with a seat at the UN and the WTO. Trade is at the heart of everything, and I want to help shape its future.”
At 63, he remains ambitious, hungry to succeed once again.
“I've got two new business ideas that I'm working on, which I'm very excited about,” he teased. “And I want to continue with my academic work, both as a student doing my doctorate but also teaching with my fellowships at Oxford and Cambridge and at the London Business School.
When many might consider easing into retirement, he is instead embracing a new academic challenge: a doctorate in leadership at Cambridge. For a man whose career spans business, academia, and politics, it is a natural extension of a lifelong commitment to learning.
“I don’t know if you’re aware of this, but I’m in my second year of my doctorate,” he told The Power List with enthusiasm. “I’m an alumnus of three business schools, Cranfield, London Business School, and Harvard Business School. And this year, London Business School very kindly made me an honorary fellow, which I’m very proud of. But I’ve never done the real thing. So, I’m actually doing a degree, and it is on leadership. I’m researching leadership from a different angle.”
Bilimoria is a man who lives by Mahatma Gandhi’s words: “Live as if you’re going to die tomorrow, learn as if you’re going to live forever”, and for him, his next chapter is just beginning. “Middle age starts at 60, and you’re old at 80. So, I’ve only just entered middle age,” he joked. “As long as my health permits, I want to continue. I have three parts to my life: business, academia, and parliament. I want to remain active in all three.”
