SHAILESH HARIBHAKTI
TVS Motor inducts two new independent directors
The two new board members are Chennai-based Sanmar Group’s chairman Vijay Sankar, and Shailesh Haribhakti of Shailesh Haribhakti & Associates, the company said in a press release.
Just one in 10 executive directors is a woman: Study
Indian corporations are struggling to attract more women to executive director roles, with only 10% of the top 200 listed companies having female executive directors. This is despite efforts to strengthen diversity at leadership levels by Indian corporations. The higher proportion of women as independent directors is 27%, primarily due to the regulatory mandate of at least one independent woman director on a listed board.
Companies go on a big legal talent hunt
The scramble for the best and the brightest legal talent has been ignited by a constantly changing regulatory environment, rising focus on corporate governance and ethical standards, and regularly evolving GST structures. This is leading to a massive churn in CLOs, said HR consultants and company officials.
Anant Ambani's board induction: Why more streaks of black in grey-haired clubs
Reliance: Proxy firms Institutional Shareholder Services Inc. (ISS) and Institutional Investor Advisory Services (IIAS) have recommended that shareholders vote against the induction of Anant Ambani, the youngest son of Reliance Industries Chairman Mukesh Ambani, to the company's board. ISS cited Anant's limited leadership and board experience as a concern. However, Reliance defended Anant's appointment, stating that he has relevant experience and maturity.
Cheques & Balances: Performance to sign off on CEO pay hikes
Indian corporate boards and their nomination and remuneration committees are closely examining CEO compensation amid challenging economic conditions. With declining revenues and profits for many companies, there is greater emphasis on linking CEO pay to performance, financials, and market valuation.
Swiggy appoints Sahil Barua, Mallika Srinivasan, Shailesh Haribhakti as independent board directors
“We’re very excited about bringing on Mallika Srinivasan, Shailesh Haribhakti, and Sahil Barua to Swiggy’s board of directors,” said CEO Sriharsha Majety.
India Inc's CEOs took home, on average, 4% higher pay in the last fiscal year
The average increase in the compensation of professional chief executive officers and managing directors in fiscal 2022 was a tad higher than the 1% rise seen in FY21, but was less than the pre-Covid average hike of 7.5% in fiscal 2020, according to an ET analysis of 220 of the BSE 500 companies for which the numbers are available.
Corporate chiefs in demand in new-age sectors; survey shows 40% CEOs from 220 cos jumped ship in past three years
Since 2019, chief executives of 90 cos — about 40% out of 220 surveyed — have jumped ship, according to a study commissioned by ET. The banking and financial services sector (59%), followed by consumer retail (51%) and industrial (49%), have seen maximum such attrition, according to a study of listed and unlisted frontliners by global executive search firm EMA Partners.
Post-Covid disruption: India Inc shifts focus to keeping a successor ready
Leadership succession is extending to top executives in key roles such as the heads of sales, strategy and M&A, products and designs, and a level beyond the C-suite, according to board members of top companies and CXO search consultants ET spoke to.
In fight for CXOs, companies' weapon of choice - golden handcuffs
In the last one year, these established companies have lost their top leaders to new-age firms and companies in high-growth sectors such as technology, healthcare, and others. Now, they are looking at engaging their CEO and CXO talent in more sweetened, but binding, contracts.
Future Lifestyle Fashions chairperson Shailesh Haribhakti resigns
In a regulatory filing, Future Lifestyle Fashions Ltd (FLFL) said, "Shailesh Haribhakti has resigned from the position of the Chairperson and Independent Director of the company with effect from April 22 , 2022 vide his resignation letter dated 22 April 2022 submitted to the Company."
Top executives took home bigger salaries last fiscal
The double-digit pay increase in fiscal 2021 compares with a 3% rise in FY20 when the nationwide lockdown had affected the last ten days of the fiscal year and the wallets of CEOs as many boards decided to freeze or cut the bonus and variable pay, thus taking away a large chunk from the salary of top executives.
Covid forces companies to relook at board mix
The current pandemic, which has challenged businesses like never before, has also got them thinking about the quality of their board of directors. Although the process of examining value-addition by independent directors had started some time earlier, hiring experts said it is only now, since the pandemic, that it is being accelerated.
Covid forces cos to relook at board mix, assess independent directors’ value addition
Executive search company Odgers Berndtson India MD Prasad Medury said, “The pandemic has taken boards of organisations by surprise. Our interactions with owner-promoters of listed companies lead us to believe that the CEO lacks appropriate guidance from the board.
We are going to see a reasonable spurt in tax to GDP ratio: Shailesh Haribhakti
The whole idea of leaving out half the taxpaying population (rural rich agrarians) potentially from the tax network has to be removed as an idea. We need to think about extending the tax base in that way, says Shailesh Haribhakti of Haribhakti & Company. Edited excerpts:
AC maker Blue Star rejigs board
In a press release, the company said Haribhakti’s elevation underlines the importance the company and its promoters gives to professional management.
Securities scanner: CAs, valuers and CSs could come under Sebi ambit
The new rules will bring their activities related to securities market under Sebi’s ambit.
IBSFINtech gets seed fund from Shailesh Haribhakti
The startup is also in early stage of discussions to raise growth funding of $2-4 million for scaling up operations globally and for product research and development.
New accounting norms may impact shareholder interest
India Inc is gearing up for transition towards a new set of accounting standards for preparing financial statements.
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