While war rooms are set up closer to the sales, warlike preparations go into it almost 12 months in advance to ensure that on D-day the firm gives its best to its customers.
Edtech firm Think and Learn Private Ltd, owner of Byju's, on Thursday said neither the company's founder and CEO Byju Raveendran nor any other board member will attend the extraordinary general meeting called by some select investors. Shareholders at Byju's are set to vote on Friday on a resolution brought by some investors to oust founder CEO Byju Raveendran and his family members over alleged "mismanagement and failures". Byju's has called the EGM "procedurally invalid" and contractually in contravention of the company's article of association and shareholder's agreement.
In the backdrop of the crisis brewing at Paytm Payments Bank, major fintech companies are ramping up their workforce and inducting new faces in their leadership teams, industry sources said on Wednesday. Users will not be able to add funds to their Paytm Payments Bank Wallet after February 29, though they will still be able to use the services and the existing balance in the wallets, according to the Reserve Bank of India (RBI) diktat. Industry sources said that competitors to Paytm are investing heavily in offline payments while doubling their salesforce.
Former NSE managing director (MD) and chief executive officer (CEO) Chitra Ramkrishna and group operating officer and her advisor Anand Subramanian ran a 'money-making scheme' during their stint at the National Stock Exchange (NSE), markets regulator Securities and Exchange Board of India (Sebi) has alleged. The order passed by Sebi dated February 11 highlights frequent increase in the compensation package of without proper appraisal, documentation or file notings, and the involvement of the human resource (HR) head or the nomination and remuneration committee. Furthermore, the order talks about Subramanian being directed to "withdraw and surrender" to the unknown person a gross amount per month as "gratitude".
She received nearly 97.7 per cent of the votes in favour of her re-appointment, while nearly 2.32 per cent votes were cast against her
Sources said Sircar, who was appointed on the post in 2012 by the UPA-II government, has written a letter to I&B Minister M Venkaiah Naidu in this regard.
The appointment will be effective January 20, 2014, the company said in a statement.
The turf war in the Board of Control for Cricket in India got uglier as Committee of Administrators, headed by Vinod Rai, on Saturday cleared new Anti-Corruption Unit (ACU) chief Ajit Singh's appointment despite acting secretary Amitabh Chaudhary refusing to sign the contract letter.
With the RBI capping top managements' tenure at lenders, Kotak Mahindra Bank's head Uday Kotak on Monday said his current term as the managing director and chief executive is till December 2023 and the board will take a call on succession in due course. Kotak also stressed that the commitment to institution building has been a core value for the entity over the last 36 years of its existence. The RBI last week capped MD and CEOs' terms at private sector lenders at 15 years, from October 1 onwards, but has allowed the serving bank heads to complete their current appointments. Uday Kotak, who is also among the promoters of the lender, has been at the helm for over 17 years already.
Unlike any other business, banking is a turf where the captain's role is the most critical. Often a bank is defined by the personality of the CEO who runs it. Both HDFC Bank and Kotak Mahindra Bank are the creation of their CEOs, notes Tamal Bandyopadhyay.
In a major management change at the top, SKS Microfinance on terminated the services of Suresh Gurumani as CEO, triggering a six per cent fall in the company's stocks.
Ashok Vaswani, a banker with more than three-and-half decades experience in building and scaling up businesses across consumer and corporate banking and payments, will be the next managing director (MD) and chief executive officer (CEO) of Kotak Mahindra Bank. Last week, the Reserve Bank of India (RBI) had given its approval to Vaswani's appointment. Vaswani is currently President of Pagaya Technologies, a US-Israeli artificial intelligence (AI) fintech firm, which he joined in June 2022.
Sharma to step down as Axis Bank chief on December 31.
Shareholders had already approved his appointment in 2015 for a period of five years subject to RBI approval
The venture, they said, would focus on technology and media opportunities in emerging markets. Industry sources said the focus would be on digital media, with India being the big driver.
The country's oldest stock exchange BSE has also embarked on a search for a chief executive and managing director as the incumbent Ashish Kumar Chauhan's term has ended. The move comes at a time when its bigger rival NSE, which controls a large part of trade volumes in the country, has also initiated a similar process for its chief. Interestingly, some reports mention that Chauhan is in the race to take over the corner office at NSE.
Shareholders have given approval to the appointment of Ambani scions Akash, Isha and Anant on board of Reliance Industries, the company said in a stock exchange filing.
The bank's board has already established a search and selection committee comprising three members from the existing nomination and remuneration committee along with two external experts to identify Kapoor's successor.
BCCI CEO Rahul Johri will need to get assurances from all the state associations that there will be no disruption in organisation of cricket matches under aegis of the board, the Supreme Court-appointed Lodha Committee said on Wednesday.
Stories are legion about the Karatmeter's use at that time. Hundreds of people standing in queue for testing, customers breaking down after discovering the actual purity of their jewellery and then becoming irate about the jeweller who had gypped them, the local jewellery industry leaning heavily on the Tanishq franchisees to desist from using it, some jewellers even threatening violent action.
An Extraordinary General Meeting (EGM) of Byju's shareholders got underway on Friday to vote on a resolution brought by some investors to ouster founder CEO Byju Raveendran and his family over alleged "mismanagement and failures". Raveendran and his family stayed away from the EGM, calling it "procedurally invalid."
His transformational vision and strategic orientation played a crucial role in navigation of BMW Group India in a challenging business environment.
Former India wicketkeeper Saba Karim was on Saturday appointed as General Manager (Cricket Operations) of the Board of Control for Cricket in India.
Capital markets regulator Sebi on Tuesday asked listed companies to work towards splitting the roles of chairman and managing director before the April 2022 deadline, as the new directive is not aimed at weakening the position of promoters. Listed entities were initially required to separate the roles of chairperson and MD/CEO from April 1, 2020 onwards. However, based on industry representations, an additional time period of two years was given for compliance. The regulation will now be applicable to the top 500 listed entities by market capitalisation, with effect from April 1, 2022.
Robrecht Himpe, who is the CEO Flat Europe and Amaud Poupart-Lafarge (Africa and CIS) are the new members of the management committee. Further, Andre van den Bossche and Narendra Chaudhary would be retiring from the committee in due course. Bossche is in charge of Global Trade Policy, Steel Contact Groups, Mandates and Associations while Chaudhary is the CEO Africa and CIS.
In a media release, the financial services behemoth said that its board of directors has appointed Vikram Pandit as the company's new chief executive officer and member of the board of directors, effective immediately.
Ending all speculation, Infosys, India's second largest IT services company today announced Vishal Sikka, the former chief technology officer and member of executive board at enterprise software maker SAP, as the new CEO & MD.
What do we need more of: Leaders who dominate global institutions or local leaders with a 'Make-in- India' mindset?
Trouble started brewing after Cognizant announced that Ravi Kumar, former Infosys president, would take over as the Nasdaq-listed company's CEO.
Bhasin will now take over as a non-executive vice-chairman of the company.
Ahead of Friday's extraordinary general meeting (EGM), Byju Raveendran, chief executive officer (CEO) of Byju's, told shareholders that he is committed to restructuring the board of the embattled educational technology (edtech) firm. He also committed to appointing two non-executive directors to the board by the mutual consent of the founder and shareholders. The development comes at a time when a consortium of key shareholders, holding over 30 per cent stake in Byju's, issued a notice to the embattled edtech firm this month, calling for an EGM to address "persistent issues", including a proposed change of management at the firm.
Satyam Computer on Friday said it has shortlisted three candidates for the post of CEO and CFO and was close to arranging funds to meet immediate requirements like salary payments, while dispelling doubts about the total employee strength of 53,000.
'We want to play the value game for our consumers, which is health and retail will grow faster for us than the group.'
In India, 39 per cent of the sample of a survey said 'very comfortable' for a woman heading the government, higher than 34 per cent who replied with 'very comfortable' for a woman heading a company. However, men are less accepting of such appointments.
In a nail-biting finish, Conservative candidate Don Stewart won the Liberal stronghold of Toronto-St. Paul's by defeating Liberal Party's Leslie Church by 590 votes.
Compensation package for CEOs has hit Rs 20 crore excluding stock options. It was Rs 10 crore 4-5 years ago.
The first quarter of calendar 2023 will see new faces heading four large public-sector banks -- Canara Bank, Bank of Baroda, Indian Overseas Bank, and Bank of India.
Cash-strapped Air India is in the process of finalising appointments to three key managerial positions which would put an extra annual burden of about Rs 3.5 crore (Rs 350 million) annually, sources said.
He quit following an investigation into a relationship between him and a female executive of the company.
