CEO FACTORY
EVMs can be architected and built right as India has done: Former Min replies to Tesla CEO Elon Musk
Following Elon Musk's discussion on social media platform X regarding electronic voting machines (EVMs), former Minister of State for IT Rajeev Chandrasekhar responded by asserting that EVMs can be designed and constructed effectively, citing India's example. In response to Elon Musk, Rahul Gandhi stated that electronic voting machines (EVMs) in India function as a "black box," inaccessible to scrutiny, raising significant concerns about transparency in electoral system.
Tesla shareholders okay CEO Elon Musk's Rs 4.67 lakh crore pay package
esla shareholders voted Thursday to restore CEO Elon Musk's record $44.9 billion pay package that was thrown out by a Delaware judge earlier this year, showing strong support for his leadership of the electric vehicle maker. While the favorable vote indicates confidence in Musk, it does not guarantee immediate access to the all-stock compensation. The package is expected to face legal challenges in the Delaware Chancery Court and Supreme Court for several months as Tesla seeks to overturn the initial rejection.
Elon Musk says Tesla shareholders voting yes for his $56 billion pay package
Tesla shareholders are voting on a $56 billion pay package for Elon Musk and to relocate the company's legal home to Texas. The vote outcome will be announced at a meeting in Texas on Thursday.
Tesla shareholders voting yes for Elon Musk's $56 billion pay package, CEO says on X
Shareholders of the electric-car maker are voting on a proposal to ratify CEO Musk's 2018 incentive package, valued at up to $56 billion at the time and the largest in U.S. corporate history, after a Delaware judge voided the plan approved by its board "beholden" to Musk. The result will be announced at a meeting on Thursday.
Lok Sabha results googly may unsettle Indian companies unfamiliar with coalition pitch
Post-election, certain Indian businesses face uncertainty after years of stability under Modi's single-party majority. Concerns arise about decision-making and reforms as BJP's weaker mandate shifts dynamics. Industry veterans note silence from typically vocal business leaders, who now await potential changes in the new cabinet amid speculations about Modi's altered work style.
SAP aims to double embedded AI use cases to 100 by year-end: SAP CEO
Klein was speaking at SAP’s annual conference Sapphire, where the company unveiled generative AI innovations and partnerships. Klein was speaking at SAP’s annual conference Sapphire, where the company unveiled generative AI innovations and partnerships.
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Expect debt to remain stable; won't reduce significantly this year: TV Narendran, Tata Steel
So, this year is going to be a very crucial year, turnaround in Netherlands, last year was a loss, this year will be a profit at least at an EBITDA level and the UK second half we hope to move from a loss making facility to at least a balanced facility.
Nvidia's profit soars, underscoring its dominance in chips for artificial intelligence
Nvidia's profit soared, driven by AI dominance and CEO Jensen Huang's vision of 'AI factories' creating artificial intelligence. The company reported a sevenfold increase in net income and a 10-for-1 stock split, with shares rising 6% in after-hours trading.
TVS Supply Chain clinches deal to manage VE commercial vehicles' Baggad plant
VE Commercial Vehicles has been associated with TVS Supply Chain Solutions since 2006 for in-plant logistics operations of their truck plant in Pithampur, Madhya Pradesh.
MS Dhoni-backed EMotorad’s e-cycle gigafactory almost ready
The e-cycle maker's gigafactory is being built in four phases. It will manufacture a range of components including batteries, motors, displays and chargers. The 2,40,000-sq.ft. facility is scheduled to be inaugurated on August 15. The factory, which will become South Asia's biggest integrated e-cycle unit, is set to employ more than 300 people.
Microchip Technology expects weak quarterly results on excess inventory impact
Slowing electric vehicle sales at a time when customers are clearing excess inventory have weighed heavily on demand for chips in the automotive industry, hitting chipmakers such as Microchip Technology amid an uncertain economic environment.
McKinsey's CEO Factory: What sets it apart according to Sundar Pichai, James Gorman, and Sheryl Sandberg
McKinsey & Company, known for its prestigious alumni and talent development programs, is facing scrutiny from the DOJ for its past advice to opioid companies. Notable alumni include Sundar Pichai, Sheryl Sandberg, and John Malone. Despite its reputation as a talent incubator, McKinsey has faced criticism for its work with Enron and the Saudi Arabian government. The DOJ's investigation adds to the challenges McKinsey faces as it navigates the post-pandemic era and adapts to changing client demands. The firm has not yet responded to requests for comment on the investigation or recent reports of overhiring.
Boeing's lower MAX production will slow planemaker's recovery, CEO says
Boeing CEO Calhoun emphasizes safety and quality over financials amid 737 MAX production challenges, delays in meeting cash flow goals, and 787 delivery issues due to supplier shortages, while facing pressure from regulators.
Why Elon Musk may not drive Tesla to India anytime soon
Tesla delays new factory investments, focusing on capex efficiency. Model 2 launch canceled, Musk hints at new models. Rivian shifts to produce R2 SUVs in the U.S., abandoning plans for a new plant.
RBI’s missive to online payment firms; CEO shuffle at startups
Happy Monday! The country’s central bank has asked payment companies to flag high-value suspicious transactions amid the ongoing general elections. This and more in today’s ETtech Morning Dispatch.
Honda announces new engine assembly line at its Global Resource Factory in Haryana
Honda Motorcycle & Scooter India unveiled a new engine line in Haryana for CKD exports, emphasizing innovation and efficiency. The assembly line, capable of producing 600 engines daily, caters to diverse customer needs and plays a vital role in the company's global expansion.
We see 5G adoption happening in India with new use cases: Borje Ekholm, CEO, Ericsson
"From a global perspective, we knew India had an unprecedented pace of build-up last year and it was expected that it would come down this year. So that is perfectly in line with what we expected. The interesting thing is we see an adoption of 5G happening in India."
Shareholders approve pay package of Stellantis CEO Carlos Tavares
Stellantis shareholders on Tuesday approved a controversial 36.5-million-euro ($38.75 million) pay package for chief executive Carlos Tavares. According to the Stellantis annual report, the 65-year-old Portuguese executive was due to get a 10-million-euro bonus for the transformation of the group -- formed out of the 2021 merger of Peugeot and Fiat-Chrysler.
Expat CEOs a rare commodity in India Inc
According to data sourced from Prime Database, there are 28 non-India expat CEOs among the 2,521 CEOs cumulatively appointed by 2,048 listed companies at end of FY24. The number of expat CEOs has hovered around the same levels over the past decade with several being individuals of Indian origin.
Shark Tank judge Peyush Bansal's Bengaluru land appeal gets instant response from minister
Minister M B Patil supports Lenskart CEO Peyush Bansal in acquiring land near Kempegowda International Airport in Bengaluru for a mega factory. Bansal, a 'Shark Tank India' judge, seeks suitable land on LinkedIn with Karnataka government's proactive response.
Delaporte's note to Wipro staff; new CEO at Byju's Aakash
Amid a global generative artificial intelligence disruption, top-rung management professionals are driving demand for AI upskilling courses. This and more in today’s ETtech Top 5.
Luminous Power Technologies inaugurates solar panel manufacturing factory in Uttarakhand
According to the statement, the inauguration event was graced by legendary cricketer and Luminous Brand Ambassador Sachin Tendulkar, accompanied by Preeti Bajaj, CEO & MD, Luminous Power Technologies, and Manish Pant, Chairman of Luminous Board & Executive VP - International Operations, Schneider Electric.
Kalpataru Projects International, arms bag orders worth Rs 2,071 crore
KPIL's order intake (including LOAs/LOIs) in the current financial year stands at a record high of Rs 30,000 crore including some large and strategic order wins in T&D, B&F, Oil & Gas, and Urban Infra business, he added.
Fast-fashion retailer H&M delayed some campaigns due to Red Sea crisis
H&M, the world's second-largest fashion retailer, has delayed some Spring/Summer campaigns due to shipping delays caused by the Red Sea crisis. CEO Daniel Erver stated that the impact on customer availability was minimal. The delays, around two weeks in some markets, are due to ships avoiding the Suez Canal. H&M is monitoring the situation and has taken measures to minimize the impact, including asking suppliers to ship products earlier and speeding up plans to shift production closer to customers.
Boeing may turn to outsider CEO to tackle spiraling crisis
Facing mounting pressure from airlines, regulators and investors, Boeing on Monday announced a broader than expected shakeup with Calhoun, 66, stepping down by year-end on the heels of the company's commercial planemaking chief and its chairman.
Biggest challenge facing new Boeing CEO is winning over airlines
Boeing’s new management faces a myriad of challenges — criminal investigations, eroding finances, regulatory scrutiny, market share losses to rival Airbus SE — along with a rare opportunity to shift Boeing away from the focus on cash that has driven its strategy for the past decade.
Boeing CEO Dave Calhoun to step down in management shakeup amid safety crisis
Boeing Co CEO Dave Calhoun will step down by year-end amidst a management shakeup triggered by safety concerns following a mid-air panel blowout on a 737 MAX plane in January. Stan Deal, President and CEO of Boeing Commercial Airplanes, will retire, with Stephanie Pope taking over the business. Steve Mollenkopf is appointed as the new chair of the board.
Xiaomi CEO teases price on upcoming EV, showrooms begin displaying vehicle
The company will on Thursday evening announce its official price range and start taking orders for the car, dubbed the SU7, with the SU short for Speed Ultra. CEO Lei Jun's comments, made on his official Weibo account, mark the first time the company has confirmed the upper end of its price range.
India’s first integrated Oil Palm Processing Unit by 3F Oil Palm starts commercial operations
This integrated Oil Palm project will include a cutting-edge oil palm factory (Palm Oil Processing and Refinery), a zero-discharge effluent plant, a palm waste-based power plant, and additional structures and go-downs for support purposes. This factory marks the first Oil Palm factory in Arunachal Pradesh and India's first Oil Palm Factory under NMEO-OP.
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