DOUYIN GROUP CEO RESIGNS
CXO-level shifts rearrange top deck at Indian startups
The world of startups witnessed a series of top-level movements in the first half of 2024, including Naveen Tahilyani taking the helm as CEO of Tata Digital and the resignation of Surinder Chawla, managing director and chief executive officer of Paytm Payments Bank.
Axis Bank’s retail head quits; new compliance chief named
Sumit Bali, the group executive for retail lending at Axis Bank, resigned from his role on Wednesday.
IKEA did what others only talk of doing & it was a gamechanger for India staff
IKEA faced high employee turnover globally. In India, to retain staff, IKEA introduced subsidized daycare, 26 weeks of parental leave, and a five-day workweek. These benefits have significantly improved employee satisfaction and retention, reflecting IKEA's commitment to addressing local worker needs and enhancing their work-life balance.
5Paisa CEO Narayan Gangadhar quits after a year of joining firm
Gangadhar had quit Angel One to join rival broking platform 5Paisa only a year ago. According to sources, Gangadhar's resignation will come into effect on August 28.
KITES Senior Care and Columbia Pacific Communites set to merge for one of India's largest senior living firms
Columbia Pacific Communites is set to merge with Kites Senior Care, forming one of India's largest senior living firms. The merger is expected to benefit Columbia Pacific Communities, which has a net worth of over Rs 25 crore. The merger is expected to boost the company's bed capacity to over 1,000 within the next six quarters. Kites Senior Care, a leading provider of out-of-hospital geriatric care services, secured an investment of Rs 45 crore from Ranjan Pai's MEMG Family Office Fund in March 2024.
Delhivery slides back to losses; Prosus names new CEO
Logistics startup Delhivery fell back into the red for the March quarter but managed to narrow its losses on a year-on-year basis. This and more in today’s ETtech Top 5.
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Swiggy, Meesho investor Prosus and parent Naspers name Fabricio Bloisi as CEO
Fabricio Bloisi appointed chief executive of Prosus and Naspers, succeeding Bob van Dijk. Bloisi, current CEO of iFood, a food delivery business in Latin America, will start on July 1. Interim CEO Ervin Tu has been appointed president and chief investment officer. Outgoing CEO Dijk oversaw Prosus's 2019 IPO and the stock's upbeat performance during the pandemic.
Old guard is out as Tata Digital’s new CEO revamps deck
Tata Digital undergoes significant senior management changes under CEO Naveen Tahilyani, impacting the team behind Tata Neu superapp. Several executives from the original team that launched supperapp have now left.
Paytm stock slides after COO exit; India’s first microcontroller chip
Shares of Paytm parent One 97 Communications fell 5% on Monday after its president and chief operating officer Bhavesh Gupta resigned. More on this in today’s ETtech Top 5.
Paytm COO Bhavesh Gupta resigns; set to become adviser to CEO office
Bhavesh Gupta, Chief Operating Officer (COO) and President of One 97 Communications (OCL), the parent company of the Paytm brand, has resigned. The fintech firm announced this to stock exchanges on Saturday. Gupta will shift to an advisory role at the office of Paytm CEO Vijay Shekhar Sharma by the end of this month.
Paytm COO & president Bhavesh Gupta resigns; to take on advisory role
Bhavesh Gupta has resigned as president and COO of One 97 Communications Ltd, effective May 31. He will be transitioning into an advisory role in the office of CEO Vijay Shekhar Sharma. Varun Sridhar, CEO of Paytm Money, has been transitioned to a different role within the group. Sridhar has been replaced by Rakesh Singh.
Paytm COO & president Bhavesh Gupta resigns; to take on advisory role
Paytm's chief operating officer and president Bhavesh Gupta resigned on Saturday in yet another top-deck exit at the fintech company. The Noida-headquartered firm also announced changes in its leadership structure. Paytm Money CEO Varun Sridhar will be replaced by Rakesh Singh.
Girish Mathrubootham steps down as Freshworks CEO
Freshworks founder Girish Mathrubootham has stepped down as the chief executive and is being replaced by Dennis Woodside. This and more in today’s ETtech Top 5.
Paytm Money CEO Varun Sridhar steps down; Rakesh Singh appointed as chief executive
Paytm Money, the wealth management platform of One 97 Communication, has replaced chief executive Varun Sridhar, at the helm since 2020, with Rakesh Singh. Singh was the chief executive of broking services at Fisdom, a PayU-backed fintech. Sridhar will be moved to a different role within the Paytm group.
Exclusive: Byju’s India CEO Arjun Mohan resigns, founder Raveendran to comeback at helm of daily ops
Byju Raveendran's return to the top of daily affairs after nearly four years is of significance as as a group of Byju’s investors voted in February to oust him as CEO of the company in an extraordinary general meeting.
Employees despair as bell tolls for Paytm Payments Bank; and other top startup & tech stories this week
While the regulatory action on Paytm Payments Bank managed to bring the entire business to a standstill, its largest business partner Paytm moved on to build new relationships with other lenders. Now its CEO who had joined the bank hardly a year back is set to leave by June 26.
"Worst is behind us," says Vistara CEO as pilot woes slashed capacity; time to be customer friendly now
Vistara CEO Vinod Kannan assured staff that the worst is over following flight disruptions due to pilot issues. Operations stabilized after capacity cuts and resignations. Challenges included pilot rosters, new contracts, and operational issues. Kannan acknowledges learning experience and emphasizes customer focus for airline's recovery. Compensation offered to affected passengers.
Investor funding in edtech drives behaviour which is not good for industry: Byju's Aakash CEO
Byju's AESL's CEO Deepak Mehrotra raised concerns about investor-driven behavior in edtech, emphasizing the inadequacy of digital tools for medical and engineering aspirants. He highlighted the need to address new learners' requirements and discussed industry challenges and his background.
Bandhan Bank shares plunge 9% as CEO set to step down; Jefferies cuts target
On Friday after the market closing hours, the private lender informed exchanges that Ghosh will retire from the position of MD & CEO upon completion of his current tenure on July 9, 2024. The veteran will continue to play a larger strategic role in the Bandhan group.
Wipro CEO Thierry Delaporte quits, to be replaced by Americas chief Srini Pallia
Srinivas Pallia, who was the CEO for the company's Americas 1 area, will take over as the new CEO and Managing Director from April 7, the company added.
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.
ZEE president and group chief technology officer Nitin Mittal resigns
The board has decided to closely monitor the business model and plan presented by the MD & CEO of the company, wherein he has provided the roadmap to improve the performance and efficiency of each of the businesses to achieve higher EBITDA.
Google vs startups row reaches MeitY; MoS IT clarifies on AI missive
The Android maker restored the apps after the apps complied with its billing policy, said people aware of the matter. The move came ahead of the US firm’s meeting with electronics and IT minister Ashwini Vaishnaw and startups on the issue.
China video app Douyin Group CEO resigns to take new role within ByteDance
Zhang Nan, who also uses the English first name Kelly, posted on her personal social media account on WeChat that she was resigning from the position, in a move confirmed by ByteDance.
Bytedance says Zhang Nan resigns as Douyin Group's CEO
Zhang posted on her personal social media account on WeChat that she was resigning from the position, in a move confirmed by ByteDance.
Wrestling icon Vince McMahon resigns from WWE after former employee files sex abuse lawsuit
Vince McMahon, the wrestling icon, resigned from WWE's parent company a day after a former employee, Janel Grant, filed a federal lawsuit accusing him and another former executive of serious sexual misconduct. The lawsuit alleges that McMahon forced Grant into a sexual relationship for job security and circulated explicit content of her to others.
InterGlobe Enterprises appoints Aditya Pande as Group CEO
Aditya Pande has been appointed as the Group Chief Executive Officer of InterGlobe Enterprises, effective from March 1, 2024. This move follows Pande's resignation as the Chief Financial Officer of Udaan, concluding a three-year tenure. Apart from IndiGo, Pande will have the overall responsibility of setting InterGlobe's strategic agenda and overseeing the leadership of the company's line businesses and corporate staff functions.
DLF CFO Vivek Anand resigns
DLF has announced that its CFO, Vivek Anand, has resigned to pursue other career opportunities. Anand will continue as CFO until February 2024, with MD Ashok Kumar Tyagi overseeing Group Finance, IT, and secretarial functions. Tyagi has a long tenure as Group CFO and has reviewed the function in his role as CEO and Whole-time Director.
Grounded airline Go First's CEO Kaushik Khona resigns
Go First's CEO, Kaushik Khona, has resigned nearly seven months after the airline filed for insolvency. In an email to employees, Khona mentioned November 30 as his last day with the company. Go First, formerly known as GoAir, stopped flying in early May and filed for voluntary bankruptcy proceedings
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