SENIOR EXECUTIVE
Prashant Gazipur joins Delhivery as senior vice president
Delhivery appoints Prashant Gazipur as senior VP for last-mile operations. Gazipur will be in charge of “capacity building and operational excellence across the company’s last-mile pickup and delivery operations”
Up, up and away! After pandemic, more senior citizens are packing travel bags
Post-pandemic, senior citizen travel surged. Thomas Cook launched packages with Sakura tour and 25% Europe travel growth. Domestic travel rose 15%. GenS app to offer immersive experiences. Silver Citizens group grew to 400. Increased cruising demand. Varanasi, Ayodhya, Shirdi, and more destinations saw double-digit flight booking growth. Rajeev Kale highlighted short-haul international travel.
RBI makes adverse remarks against top PSU Bank Exec
In a rare move, the Reserve Bank of India (RBI) has raised concerns about Asheesh Pandey's conduct as an executive director at Bank of Maharashtra, influencing his candidacy for MD & CEO at Indian Bank. The RBI highlighted issues related to regulatory compliance during a 2023 exit meeting. Despite being shortlisted, Pandey's final approval hinges on the Appointments Committee of the Cabinet (ACC), which includes the Prime Minister and Home Minister. The decision awaits responses from the finance ministry and Department of Personnel and Training (DoPT) following RBI's communication.
Unable to retain high-cost CXOs, companies look at 'mutual separation'
Companies are increasingly negotiating "mutual separation" agreements with top C-suite executives who are no longer aligned with new growth strategies. These exits are planned with lead times of 12-18 months in large firms, while startups also offer structured exit plans for senior talent. The agreements, kept confidential, provide negotiated packages and benefits, reassign executives from key projects, and ensure a dignified departure.
India Inc senior keen to book C-Suite for pros under 50
Traditional groups cap CXO age at 50. A mid-fifties candidate was overlooked. Younger CEOs/CXOs, preferred for tech adaptability post-pandemic, fit the 'sweet spot' age aiding old economy firms. Pawan Goenka noted internal grooming. Rajiv Dube favours longer terms. Young leaders, noted by Harsh Goenka and Claricent Partners, are ambitious and successful.
GCCs on the hunt: IT companies becoming hotspots for senior talent
According to the findings, there are about 120 top GCCs in India with some 21,000 senior executive roles, including those of vice-president, assistant vice-president, senior vice-president and director. These senior executives have a minimum experience of 15 years, and in the last one year, more than 100 have moved from an IT company to a GCC.
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Hemant Lamba resigns as Infosys Executive VP
In his resignation letter marked to Infosys CEO Salil Parekh, Lamba wrote: "I am writing to inform you of my decision to resign from the services of Infosys. I am thankful for the opportunity and experiences I have had over the years".
Senior CPSE executives may get up to 100% hike
The government is considering a proposal to double the compensation of senior executives at central public sector enterprises (CPSEs) with a turnover exceeding Rs 100 crore. This aims to bridge the gap with the private sector and retain top talent. The increase, potentially up to 100%, would be performance-linked, focusing on asset monetisation, project speed, profit, and other benchmarks. The proposal may be presented to the Cabinet Committee of Economic Affairs before the upcoming budget presentation.
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.
AI added speed to dynamic entrepreneurial ecosystem in India: OpenAI senior executive
Srinivas Narayanan highlighted India's AI progress, supporting farmers and education with generative AI investments.
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.
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.
Why new-age EV manufacturers are picking nimble neighbouring states over Karnataka
Karnataka has excellent facilities, but states like TN are more proactive, say industry executives; for some firms, market proximity is key reason to set up facility.
IOA EC members decide not to take any allowance for their Paris trip
The Indian Olympic Association (IOA) Executive Council members have decided not to accept a higher dearness allowance than the athletes for the Paris Olympics to avoid a negative impact on their image. They assert financial independence and will make their own travel arrangements, despite being budgeted to receive USD 300 per day. The council met to address public criticism and will discuss the issue further before the Indian contingent's send-off ceremony.
Sebi eases trading norms for company insiders
"Insider may make adjustments, with the approval of the compliance officer, in the number of securities and price limit in the event of corporate actions related to bonus issue and stock split occurring after the approval of trading plan and the same shall be notified on the stock exchanges on which securities are listed," Sebi said .
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.
JPMorgan to grow India headcount by 5%-7% for next few years, senior exec says
According to a senior executive, JPMorgan Chase intends to increase its workforce in India by 5%-7% annually over the coming years. This move comes as the Wall Street giant intensifies its focus on one of the most competitive talent markets worldwide to bolster its support for international operations. Currently, the New York-based bank employs approximately 55,000 individuals across five Indian cities, constituting about a fifth of its global workforce.
GST to be paid by telcos along with instalments towards spectrum charges
The spectrum will be assigned for 20 years and successful bidders will be allowed to make payments in 20 equal annual instalments in the coming mega auction.
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.
China commerce ministry bans some US firms including Boeing from import, export activities
China's Commerce Ministry has banned certain US firms from importing and exporting related activities to China, including one selling arms to Taiwan. The ministry also forbids them from making new investments in China. Senior executives of these companies will be prohibited from entering China, and their work permits will be revoked.
Over 86% senior execs using AI for driving revenue growth: TCS study
86% of senior business leaders, per TCS study, use AI for revenue growth. 45% expect half their workforce to use Generative AI in 3 years. Harrick Vin notes AI solutions deployment challenges. 57% executives are excited about AI impact. Enterprises are moving towards wide-and-deep AI adoption.
Elon Musk lays off Tesla senior executives in fresh job cuts: Report
Tesla CEO Elon Musk is reducing senior management and laying off hundreds of employees due to falling sales and the pace of layoffs. Rebecca Tinucci, senior director of Tesla's Supercharger business, and Daniel Ho, head of new products, will leave. Musk also announced the dismissal of everyone working for Tinucci and Ho, including the roughly 500 employees in the Supercharger group.
Auto Industry ramps up C-suite hiring amid post-pandemic sales surge
The Indian automobile industry is experiencing a surge in hiring for C-suite executives from diverse consumer-facing sectors to address a talent shortage at the top level amid a post-pandemic sales rebound. Over the past 12-18 months, senior executives from FMCG, consumer durables, and retail backgrounds have transitioned to carmakers like Maruti Suzuki, Bajaj Auto, and TVS Motor Company, traditionally known for hiring engineers and technology experts.
Senior Mahindra executive Gurpratap Boparai quits
Following his resignation, Vinod Sahay who is president, aerospace and defence and chief purchase officer (CPO)- auto and farm Sectors (AFS), will now have additional responsibility for the truck and bus and construction equipment business. Sahay will be designated as president and Chief Purchase Officer (CPO) for AFS and President for Aerospace and Defence, MTBD and CE after May 31, 2024.
IndiGo says it follows a fair process of succession readiness amid some exits
The country's largest airline IndiGo on Monday said it follows a fair process of succession readiness amid some senior executives set to leave from their current roles. The carrier's Senior Vice President Engineering S C Gupta and Senior Vice President Inflight Services Suman Chopra will be leaving from their current positions. They have been with IndiGo since 2006 when it started operations, according to executives.
Tesla's senior battery executive Drew Baglino exits company
Tesla's senior vice president of powertrain and energy engineering, Drew Baglino, is leaving after 18 years at the auto-maker, he said in a post on social media site X on Monday. Tesla's vice president of public policy and business development, Rohan Patel, has also left the carmaker, according to a post on X by a Bloomberg News reporter.
Spotify names senior Saab executive Christian Luiga as finance chief
Spotify appointed Christian Luiga as CFO, focusing on profit growth through layoffs and price hikes. The company aims to expand into podcasts and audiobooks to reach 1 billion users by 2030.
Maruti Suzuki rejigs senior management; Tarun Aggarwal to succeed C V Raman
Maruti Suzuki has announced organizational changes in its engineering, marketing, sales, supply chain, and human resources departments. Starting April 1, Tarun Aggarwal will replace C V Raman as Engineering Head, Partho Banerjee will replace Shashank Srivastava as Marketing & Sales Head, Manoj Gautam will replace Rajesh Uppal as Information Technology Head, and Deepak Thukral will replace Sunil Kakkar as Supply Chain Head.
Wipro promotes over 30 senior executives to SVP, VP roles
Those elevated include Wipro's chief delivery officer Ajit Mahale, healthcare portfolio leader Anuj Kumar, Canada country head Kim Watson, Europe cloud sales head Srinivasaa HG, the head of its cloud arm's strategy and execution arm Satish Y and consulting unit Capco's chief financial officer (CFO) Benjamin Simon.
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