On a sunny Friday afternoon in June 2003, Rajat Gupta was greeted at his waterfront home in Westport, Connecticut, by scores of his McKinsey & Co. partners. They had come from London, Frankfurt, New Delhi and other cities around the world — and brought along an elephant, which they tethered on the front lawn.

Gupta was stepping down after nine years as managing director of the global consulting firm, and his colleagues were gathered to celebrate his tenure and wish him the best in the next phase of his career.

They offered champagne toasts and took photos of Gupta, standing next to the elephant, which was draped in a brightly colored shawl called a jhool. The decorated elephant represented the Hindu god Ganesh, who bestows good fortune on new ventures. Gupta smiled as he rested his arm on its trunk, Bloomberg Markets magazine reports in its July issue.  Read more