SENIOR DIRECTOR
India Inc now picks its C-level champions from indoor pool
Indian companies like Mahindra and Aditya Birla Group are increasingly focusing on internal talent pipelines for leadership roles, showcasing a shift towards nurturing seasoned professionals for longer tenures within the organization.
Former RBI Guv Urjit Patel set to join Britannia Industries board again
Urjit Patel, former RBI governor, joins Britannia Industries board as an independent director. He recommenced after a two-year hiatus following his resignation in 2018. Patel’s diverse experience includes stints in both the private sector and central bank, distinguishing him from his predecessors. As a seasoned professional, he brings a unique perspective to the boardroom, ensuring a blend of regulatory expertise and corporate governance.
A woman's place is in the boardroom
India Inc can attain gender parity by emphasizing middle managers through affirmative action in college and entry-level corporate hiring, ensuring a balanced representation at all levels for effective corporate governance.
Why Mahadev app not banned by Centre and Chhattisgarh governments: Bhupesh Baghel
Former Chhattisgarh Chief Minister Bhupesh Baghel criticised BJP MP Santosh Pandey's allegations in Lok Sabha regarding the Mahadev app scam, questioning why the BJP-led governments hadn't banned the platform. Baghel denied Pandey's accusations of operating a Rs 6,000 crore betting scheme during his tenure, pointing out that his government had taken action against the app's promoters. Baghel also expressed concerns over the app's continued operation under the current administration and plans to address the issue further.
IPO rush amid market rally boosts demand for independent directors
Amid IPO frenzy, companies race to appoint independent directors with specific skill sets crucial for growth. Women lead key committees, while former bureaucrats remain sought after. The process overlooks competencies, favoring recommendations from bankers and auditors. Specialized firms aid in identifying professionals for board roles, ensuring compliance with listing regulations.
Former SoftBank managing partner Lydia Jett joins Flipkart board
Lydia Jett previously joined Flipkart’s board as a representative of SoftBank in 2017. She had exited Flipkart’s board after stepping down as SoftBank's managing partner in February this year. Meanwhile, Flipkart has been aiming for profitability amid changes in senior management and layoffs prompted by cost-cutting earlier this year.
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Delhi HC to rule on BRS leader K Kavitha's bail plea in Excise Case on July 1
BRS leader K Kavitha was arrested by the Enforcement Directorate on March 15, 2024 and by the Central Bureau of Investigation (CBI) on April 11, 2024. The bench of Justice Swarna Kanta Sharma, after hearing submissions from all sides, decided to reserve the order in the matter on May 28, 2024.
AAP calls for protest at BJP headquarters, police say no permission
AAP plans to stage a protest at the BJP headquarters in Delhi against the arrest of Chief Minister Arvind Kejriwal in a money-laundering case linked to the liquor policy. However, Delhi Police stated that AAP did not obtain permission for the demonstration. Security measures, including barricades and paramilitary deployment, are in place at DDU Marg. Police warned of potential detentions under Section 144 CrPC due to the unauthorized protest. AAP alleges Kejriwal's arrest by CBI and ED is unjust, labeling it a "false case."
ITC chairman's net remuneration in FY24 grew 80%, executive directors also got more
As the ITC chairman, I oversee a team of executive directors whose remuneration has significantly increased in FY24. The increments are linked to our financial performance and market competitiveness, with specific focus on performance bonuses, long-term incentives, and commissions.
NRIs want Budget 2024 to ease 6 tax troubles: TDS on property sale, disparity in LTCG, dividend taxation and others
Under Indian tax laws, NRIs are taxable on their Indian-sourced income, such as capital gains, dividends, and interest. They are generally taxed similarly to residents but may face less beneficial rules in specific scenarios. The upcoming Budget 2024 may offer relief to NRIs in these areas.
Kejriwal withdraws from SC plea against HC's interim stay on bail order
Delhi Chief Minister Arvind Kejriwal withdrew his Supreme Court plea challenging a Delhi High Court order that stayed his bail in the excise scam-related money laundering case. Kejriwal's counsel, Abhishek Singhvi, indicated plans to file a new appeal following his recent arrest by the CBI.
About 16% Reliance shareholders oppose reappointment of Aramco chairman as director
Reliance Industries' shareholders approved reappointment of Yasir Othman H Al-Rumayyan and appointed Haigreve Khaitan as independent directors. They also reappointed P M S Prasad. The board is led by Mukesh D Ambani and includes his children Isha, Akash, and Anant, along with cousins Hital and Nikhi Meswani.
While stepping down, very few independent directors speak up
Till date this year, out of 180 independent directors who resigned from corporate boards citing "personal reasons", only four have mentioned issues such as corporate governance or lack of transparency for doing so. In recent weeks, though, Nisaba Godrej stepped down as independent director on the board of VIP Industries citing accountability issues while Marc Desaedeleer resigned from Suzlon board citing "transparency" issues.
TiE Delhi-NCR announces leadership changes, appoints new Director General & Executive Director
TiE Delhi-NCR announced leadership changes with Geetika Dayal as Director General and Upasana Sharma as Executive Director.
Star Health & Allied Insurance plans 15% price hike for two products
Star Health & Allied Insurance in Chennai may raise prices by up to 15% for Senior Citizens Red Carpet Health Insurance Policy and Young Star Health Policy due to medical inflation and healthcare costs.
India Inc doubles down on getting the gender mix right
Naina Lal Kidwai, chairperson of Rothschild & Co, who is also on the board of directors of Biocon and UPL, said one of the big factors fuelling this change is ESG reporting. Companies, especially the larger ones, are seeking ratings from global firms like Moody’s where one of the questions being asked is around diversity and inclusion. Indian companies also need to disclose Business Responsibility and Sustainability reporting besides adhering to integrated reporting where ESG etc, is being integrated into annual reports.
Percentage of women in senior leadership roles increases to 18% in 2023 from 16% in 2016: Report
The report by LinkedIn and The Quantum Hub highlights that while there has been an increase in women joining the workforce, leadership positions still lack gender parity. The representation of women across the workforce rose to 26.8% in 2024, but senior leadership roles only account for 18.3%, showing a decline from the previous year. Industries like education and government administration have higher female leadership representation, while sectors like construction and utilities lag behind.
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.
AI and ML powering the next generation of personalisation for on-demand apps: Madan Thangavelu, Senior Director, Engineering, Uber
The on-demand service industry relies on mobile apps for user experience (UX) despite limited UI space on smartphones.
Senior-level adtech and martech roles combine creativity, tech and business sense
The adtech (advertising technology) and martech (marketing technology) sectors require a unique balance of creativity, business acumen, and technological skills, especially at senior levels. Companies seek professionals with expertise in data analytics, AI/ML, and digital marketing, as these roles are crucial for connecting brands with customers and driving hyper-personalization.
Talent-hunting tech rivals circle around vexed LTIMindtree
LTIMindtree was born out of the merger between L&T Infotech and Mindtree in November 2022. Analysts have attributed this to integration pains. CEO Debashis Chatterjee has said it’s business as usual.
Max Group arm Antara ties up with Hyderabad realtor for senior living project
Antara has two projects - one in Dehradun and one in Noida - and it recently added one in Gurugram after a gap of three years.
Senior-level IT services hiring in 2024 focuses on new-age skills
IT services and global market conditions impact senior-level hiring with pay hikes expected. Roles in finance, consulting, and program management are in demand. Companies hiring for roles like chief AI officer, delivery head-AI, and CFOs. Skills in cloud computing, machine learning, and data engineering are sought after. Gartner forecasts $5 trillion IT spending in 2024, with India's IT spending growing.
Senior IPS officers A Y V Krishna, N Venu Gopal appointed additional directors in CBI
IPS officers A Y V Krishna and N Venu Gopal appointed as additional directors in CBI. Krishna, from CRPF, and Venu Gopal have tenures up to 2028 and 2027, respectively. Orders specify their appointments.
Indian senior living segment to grow by 5x by 2030
According to demographic projections, the median age of the country is zexpected to increase from 29 to 38 by 2050, along with a rise in the proportion of aged people (above 60 years) from 11% in 2024 to 21% in 2050. India, in particular, is expected to witness a significant surge in demand for senior care and housing facilities, owing to its 17% share of the 2.1 billion people aged 60 years and above globally, in the next three decades.
ED raids Jharkhand's rural development department premises
The money laundering case of September, 2020 is based on an anti-corruption branch (Jamshedpur) case of Jharkhand Police and a March 2023 FIR filed by the Economic Offences Wing (EOW) of the Delhi Police against former chief engineer of the state rural works department Veerendra Kumar Ram and some others.
Court grants time to Delhi CM Arvind Kejriwal to file response to ED's reply
The Rouse Avenue court on Friday granted time to the counsel for Arvind Kejriwal to file rejoinder on the reply of Enforcement Directorate (ED). Senior advocate appearing for Kejriwal said that they could not take instructions as he has been arrested by the ED.
Right to sleep a basic human requirement, says HC on ED questioning senior citizen post midnight
The right to sleep is a basic human requirement, which cannot be violated, the Bombay High Court said on Monday deprecating the Enforcement Directorate (ED) for questioning a senior citizen throughout the night in a money laundering case. A division bench of Justices Revati Mohite-Dere and Manjusha Deshpande said statements must be recorded during earthly hours and not at night when a person's cognitive skills may be impaired.
"He spoke to my mother, weeping, saying Sonia ji, I'm ashamed...": Rahul Gandhi on senior leader's exit
The Congress party has accused the BJP of using government agencies like the Enforcement Directorate (ED), Central Bureau of Investigation (CBI), and Income Tax department to intimidate political opponents. Ashok Chavan's defection to the BJP has reignited allegations of corruption, particularly regarding the Adarsh scam, in which Chavan is implicated.
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