Mind Over Money: From Mt. Everest Base Camp to boardroom – Shaji Varghese on fitness as a foundation for leadership

In an era where boardroom stress and relentless schedules often sideline personal wellness, Shaji Varghese, CEO of Muthoot FinCorp, offers a refreshing perspective — one where fitness fuels focus, and discipline off the track drives decision-making at the top.

With over three dozen marathons under his belt and an unforgettable trek to the Everest Base Camp, Shaji isn’t just running for physical health — he’s running to stay grounded, self-aware, and sharp as a leader.

In this candid conversation for our Mind Over Money segment, he shares how his journey through endurance sports, habit-building, and wellness initiatives has shaped not only his leadership style but also the culture he champions at Muthoot FinCorp. Edited Excerpts –

Q) Thanks for taking the time out. How many marathons have you completed and is this one of the way you keep yourself mentally fit day in and day out?

A) Running has been a transformative experience for me, with over three dozen marathons under my belt in the past 3-4 years, including two full marathons.

For me, running is a form of meditation – a chance to connect with myself and reflect. While it’s a group activity, marathons remind me that ultimately, I’m running my own race.

Discovering my passion for running has been a catalyst for positive change, helping me develop healthier habits and a more organized lifestyle.I’ve started prioritizing early sleep and nutritious eating, and I’ve become more mindful of my overall well-being. Running has taught me discipline and self-awareness, and I’m grateful for the impact it’s had on my life.

Q) You even trekked to Everest Base Camp. What drives your commitment to physical fitness, and how has it shaped your leadership journey?

A) Committing to physical fitness taught me the power of habits. Small, consistent progress can have a profound impact over time. When I started running, completing a 42km marathon seemed daunting.

But by focusing on tiny, incremental gains – just 1% improvement each week – I achieved remarkable progress. Consistent training and dedication paid off on my Everest Base Camp trek, where I pushed my limits and achieved new heights.

This principle applies beyond fitness: setting realistic goals and making gradual improvements can lead to significant outcomes.

As a person, I’ve learned to prioritize my own growth and accountability. Health is a personal responsibility, while my job is a means to fulfil my larger life purpose.

By prioritizing my physical well-being, I’ve been able to prevent lifestyle diseases and maintain a balanced personal and professional life.

The discipline I’ve developed through running has been invaluable, allowing me to achieve more and live a more purposeful life.

Q) How do you prepare—physically and mentally—for endurance events like the TATA Mumbai Marathon or high-altitude treks?

A) Running has become second nature to me. For long marathons, I make sure to log at least 35 km in the preceding days to prepare for the 42 km challenge. High-altitude treks are a testament to the endurance built over time.

Last year was fulfilling, as I achieved three personal goals: participating in the Tata Mumbai Marathon, running kilometres equal to my age on my birthday, and completing the Everest Base Camp trek.

Sky diving, para gliding, ice skating, wild life safari, hot air balloon ride, experiencing Northern Lights are few others I have crossed off my list.

I’m excited to pursue more aspirations this year. I am thrilled to share that I look forward to running the full marathon at the Athens Marathon in November 2025 – crossing the historic Panathenaic Stadium of Athens will be an unforgettable experience.

Also, I plan to explore deep sea water swimming this year along with a run at the Ladakh marathon if all goes well.

Q) What does your typical wellness or fitness routine look like during a busy work week?

A) I prioritize staying active every day. My weekly routine includes long-distance running on Tuesdays, Thursdays, and one weekend day, which helps me build endurance and challenge myself.

On Wednesdays and Fridays, I focus on stretch exercises, mobility, or flexibility workouts to maintain flexibility and prevent injuries. Exercise isn’t just about physical health; it’s also a great way to clear my mind and boost productivity.

By making time for physical activity, I’m able to tackle my work responsibilities with more enthusiasm and efficiency, while also enjoying a better work-life balance.

Q) You’ve implemented wellness-focused initiatives like the Muthoot Health Triangle and Diversity Club. What inspired you to make wellness a leadership priority?

A) I firmly believe that life itself is the most precious thing we have, and good physical and mental health is crucial for overall well-being.

Workplace happiness is intricately linked to personal happiness – it’s challenging to compartmentalize joy and fulfilment.

True work-life balance means finding happiness in both your professional and personal life, effortlessly navigating between the two, and feeling eager to be in both places.

I think organizations play a vital role in fostering a healthy work environment. When colleagues prioritize their health, it benefits not only themselves but also the organization and society as a whole.

I must credit Muthoot Fincorp for the Muthoot Health Triangle (MHT) initiative – a significant milestone for Muthootians promoting physical, intellectual, and spiritual well-being for Muthootians; and I encourage my people to be part of the MHT initiatives ensuring their holistic well-being.

By promoting well-being, organizations can unlock their people’s full potential, drive growth, and contribute to a healthier, more productive community

Q) You’ve curated a physical library in the office with impactful titles. Why is fostering a learning culture important to you?

A) In today’s rapidly changing world, continuous learning is essential for survival and growth. By upgrading our skills and knowledge, we not only enhance our own productivity but also contribute to the organization’s success.

Reading high-quality books is an excellent way to broaden our perspectives and improve our thinking.

Our library is designed to support this pursuit of knowledge, with carefully curated books that will benefit our Muthootians, organization, and the wider community.

We prioritize knowledge acquisition, recognizing that it’s a key driver of progress. We encourage Muthootians to utilize their time effectively by reading and learning, rather than getting caught up in non-productive activities. By putting knowledge first, we can stay ahead of the curve and achieve our goals.

Q) Among the books you’ve recently read—such as Atomic Habits and Thinking in Systems—which one has had the biggest influence on your approach to leadership and why?

A) While both books are good, my recent favorite book is ‘The Courage to Be Disliked’ by Ichiro Kishimi and Fumitake Koga. This book has been a catalyst for self-discovery, helping me gain valuable insights into my own thoughts and behaviors.

Reading has profoundly impacted my leadership journey, broadened my perspective and helped me in informed decision-making.

Through books, I’ve developed a more nuanced understanding of life and leadership, enabling me to approach challenges with greater clarity and confidence.

Let me say that books and reading have had a profound impact on my life as a whole, and am sure it will continue to do so.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)