The Indian School of Business (ISB) was started in 1996 by a bunch of businessmen and academics. Co-founders Rajat Gupta and Anil Kumar, senior executives of McKinsey & Company, directed teams of McKinsey consultants to start the school. Gupta recruited U.S. business leaders while Kumar recruited Indian leaders for its executive board. Formal partnerships were established with international business schools Wharton and Kellogg. Pramath Sinha, then a junior partner at McKinsey in India, was persuaded to take a leave of absence to be the school's first dean. Rajat Gupta became the school's first chairman and was succeeded by Adi Godrej in 2011. The then Chief Minister of Andhra Pradesh, Sri N. Chandrababu Naidu, played an important role in the establishment of ISB in Hyderabad. The foundation stone for the campus was laid in 1999 and was inaugurated by Prime Minister Atal Bihari Vajpayee in 2001. The Government of Punjab sanctioned the Mohali Campus in 2010; its foundation stone was laid in September 2010 by Punjab Chief Minister Parkash Singh Badal, and was inaugurated in December 2012 by the then Union Minister of Finance, P. Chidambaram.