SENIOR EXECUTIVES
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.
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.
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.
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.
Financial industry grappling with AI's gifts and perils, executives say
Zack Kass, a former head of business partnerships at OpenAI said AI systems could be better than humans at explaining to clients why they arrived at recommendations like portfolio allocations or lending decisions. He added that people are not good at explaining subconscious biases that could affect such decisions.
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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 .
US Army says it killed senior ISIS official in Syria
A senior ISIS official, Usamah Jamal Muhammad Ibrahim al-Janabi, was killed in a US airstrike in Syria, disrupting the group's ability to conduct terror attacks. The strike, conducted by US Central Command, targeted al-Janabi, identified as a senior ISIS facilitator. This action is part of ongoing efforts to degrade ISIS's operational capabilities in the region. The US military has been targeting ISIS operatives in Africa and the Middle East, aiming to ensure the group's enduring defeat and prevent the resurgence of its forces.
Myth debunking 101: Those with weaknesses can’t be leaders
Simon Sinek emphasizes that great leaders are honest about their weaknesses, challenging the misconception of equating leadership with strength. Leaders are expected to possess honesty, effective communication skills, and the ability to lead, while also acknowledging their weaknesses and flaws.
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.
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.
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.
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.
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.
Suits & Sayings: A Neu Approach
ET’s roundup of the wackiest whispers in corporate corridors.
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.
Expect India to be third largest market among 118 countries: Mercedes-Benz
Mercedes-Benz anticipates India becoming its third-largest market in the "Region Overseas" within the next 2-3 years, with expectations of strong demand for luxury vehicles. Currently, India is the fifth-largest market in the region, and Mercedes-Benz plans to add 12 new models, including three battery electric vehicles, this year. The company aims to expand its presence in smaller cities, adding outlets in 10 new locations.
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