SENIOR EXECUTIVE OFFICER
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.
Haryana assembly polls: First session of BJP executive meeting begins in Panchkula
On Saturday, the first session of the BJP's extended state executive meeting began in Panchkula to strategize for the upcoming Haryana assembly elections. The event was attended by Union Education Minister Dharmendra Pradhan, election in-charge for Haryana, co-in-charge Biplab Kumar Deb, Chief Minister Nayab Singh Saini, his predecessor and Union minister Manohar Lal Khattar, and senior leader Saudan Singh.
WeWork India appoints Janak Malkani to drive expansion in managed office business
WeWork India has appointed Janak Malkani as the head of managed office and sales for the West region. Malkani's extensive real estate experience will enhance WeWork India's managed office offerings, with a focus on innovative and efficient workspace solutions. WeWork India's flexible workspace market has seen significant growth, with a third of its business driven by the Managed Office portfolio, serving notable enterprise members.
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.
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 .
Cleartrip appoints Anuj Rathi as chief business and growth officer
Anuj Rathi has been appointed as the chief business and growth officer of Cleartrip, Flipkart's travel booking unit, replacing Ayyappan R. He announced this in a LinkedIn post on Thursday.
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LGBTQIA+ employees have a new ally at workplace in senior leaders
At companies such as GE Aerospace, IBM, LTIMindtree, Deutsche Bank, Cisco, Cummins and Thoughtworks, board members, leaders, people managers as well as teammates are driving a culture of inclusiveness so that LGBTQIA+ workers don’t feel isolated.
BNPL startup Simpl undertakes another round of layoffs, rejigs senior leadership
Simpl, a Bengaluru-based consumer credit startup, laid off 30 employees after firing 160 executives. Senior executives Vatsal Jain, Ashwini Ravindranath, and Ramkumar Narayanan resigned. Earlier in April 2023, the BNPL startup let go 25% of its workforce or around 150 employees.
Are senior GCC roles creating an opportunity for IT services professionals?
The mushrooming of global capability centers is driving the need for senior talent sourced from the IT services industry, with a shift to GCCs. Indian GCCs offer value in cost efficiency, innovation, and market expansion, attracting senior IT executives for global leadership roles.
Cashfree appoints ex-Razorpay executive Harsh Gupta as CRO
Cashfree will also see another transition in its organisational structure with Arun Tikko, the chief business officer, being elevated to a bigger role to lead the international expansion of its business across new markets. Harsh Gupta will now focus on the company's market growth, revenue operation and market expansion in India.
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.
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.
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.
MNCs now offer best salary package to seasoned professionals to scale up their GCCs in India
Industry leaders report that multinational corporations are offering substantial compensation packages to recruit experienced professionals for their global capability centers (GCCs) in India. Over the past two years, there has been a noticeable increase in GCCs offering annual salaries ranging from Rs 3-6 crore to specialized leadership talent.
Strides Pharma Q4 Results: Firm posts net profit of Rs 10 crore vs loss YoY
Strides Pharma Science Ltd reported a net profit of Rs 10.44 crore in Q4 ended March 2024. The company announced Arun Kumar as Executive Chairperson. Consolidated total income was Rs 1,070.49 crore with expenses at Rs 984.21 crore. A final dividend of Rs 2.50 per equity share was recommended. FY24 revenue grew driven by US and regulated markets.
Exclusive: Tata Digital CEO Naveen Tahilyani sets up new team
Tata Digital CEO Naveen Tahilyani is rejigging the executive team for the conglomerate's super app, Tata Neu. This comes as several senior members of the team exited. Most of the positions at Tata Digital have been replaced with existing team members. The focus will now be on the loyalty programme, called NeuPass.
Delhivery’s chief business officer Sandeep Barasia exits after nearly a decade
New-age logistics firm Delhivery reported a net loss of Rs 68 crore for the January-March quarter, slipping back into the red after posting a profit after tax of Rs 12 crore for the December quarter. On a year-on-year basis, the net loss was down 57%.
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.
Wipro elevates Vinay Firake to head APAC, India, Middle East and Africa
Vinay Firake appointed CEO APMEA at Wipro, succeeding Anis Chenchah. Srini Pallia leads. Delaporte resigned, Hari Shetty elevated. Chenchah supports till May 31, 2024. Firake's educational background includes Wharton and Harvard Business School.
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.
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.
Singularity appoints Sandeep Bapat as co-chief investment officer and senior partner
Sandeep Bapat appointed as co-chief investment officer at Singularity Growth, focusing on key sectors. His experience at Trifecta Capital, Harvard, and involvement in various investments adds value to the team amidst VC departures in India.
Singularity Growth appoints Sandeep Bapat as senior partner, co-chief investment officer
In his new role, Bapat will be responsible for identifying key trends and eventual steady-state outcome for current and potential portfolio companies. With a focus on delivering returns for portfolio companies, he will have leadership responsibilities for investment activities at the firm besides serving as a member of the investment committee.
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.
Two senior executives quit SpiceJet
Sources said that Shilpa Bhatia, Chief Commercial Officer of SpiceJet and Arun Kashyap, Chief Operating Officer of the company have resigned. 31 March will be their last working day. Bhatia and Kashyap are likely to start their own charter airline business. Last year the duo had floated a company called Sirius India Airlines Pvt. Ltd which for business in air transport sector.
Maruti Suzuki partners with Union Bank of India for dealer financing solutions
Maruti Suzuki India has signed an initial agreement with Union Bank of India to provide dealer financing solutions, expanding funding options for its 4,000+ sales outlets nationwide. MSI Senior Executive Officer Shashank Srivastava emphasized their commitment to dealer network support, aligning efforts with market demands.
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