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IBM appoints Arvind Krishna as its new CEO, replacing Virginia Rometty who was heading the IBM since 2012. In another appointment, IBM named Jim Whitehurst, CEO of Red Hat as its new President. Arvind Krishna is currently heading the IBM’s cloud and cognitive software unit and played a key role in the Company’s acquisition of…
Amidst a global fear of the flu-like Coronavirus, many corporations around the world have decided to temporarily shut their operations in China. With the virus spreading fast, an alarm has been set off across the globe with companies shutting their stores, putting travel restrictions on employees and warning of a financial hit from slowing business…
Tata Motors Ltd has announced in a BSE filing that Ralf Speth, Jaguar Land Rover Automotive Plc (JLR)’s Executive Director and Chief Executive Officer, will retire from his current role at the end of his contract term in September 2020. In a BSE filing, N Chandrasekaran, Chairman of Tata Sons, said, “I want to thank…
UrbanClap announced the creation of its new brand, Urban Company. The new umbrella brand captures the company’s ambition to be a horizontal gig marketplace, with a global footprint and leadership position across service categories, Beauty & Wellness and Home Repairs & Maintenance. UrbanClap was launched in Delhi in November 2014 with a handful of service…
Vogo, an Automated Scooter Rental Startup, has raised around $35 million in its Series C round led by impact investment fund Lightstone Aspada along with participation from existing investors, according to two people familiar with the matter. Vogo declined to comment for this story. The company was founded by Anand Ayyadurai, Padmanabhan Balakrishnan and Sanchit…
Omnicom Media Group, a leading global media network, has named Kartik Sharma, former South Asia CEO of GroupM-owned media agency Wavemaker, as its India CEO. He will work with Priti Murthy, chief executive of OMD India, and Jyoti Bansal chief executive of PHD Media India, on chartering the continued growth of the agency brands in…
Indian tech giant Infosys recently announced that it has completed the sale of its stake in Danish startup UNSILO for $800,000, approximately ₹5.7cr. Infosys had invested in UNSILO in 2016 about ₹14.5cr from its $500mn innovation fund. UNSILO is an AI startup focused on advanced text analysis. It uses a combination of machine learning and…
The United Kingdom government has recently announced its decision to launch a £4million “Innovation Challenge Fund” in India. The fund is focused on two major clusters, which include artificial intelligence and big data in Karnataka and future mobility in Maharashtra. The successful bidders are likely to have an international part from the UK. Launched on…
In a bid to strengthen its commitment towards the Indian startup ecosystem, HDFC has announced its aim to invest ₹100crore every year in technology startups. HDFC Chairman Deepak Parekh said that the company will create an in-house team at its headquarters to take charge of investments. This team would dedicatedly work on understanding the startup…
Infosys, a global leader in next-generation Digital services and Consulting, has signed a multi-year, multi-million contract with ABN AMRO Bank to accelerate its cloud and DevOps transformation journey. As part of this renewed contract, Infosys will enable ABN AMRO Bank to achieve its business and operational goals by aligning its IT transformation with its cloud…
Orient Cement, a part of CK Birla Group, has appointed Soumitro Bhattacharyya, as the Chief Financial Officer of the Company w.e.f. January 29, 2020. Bhattacharyya will succeed Sushil Gupta as he resigned from the position of the Chief Financial Officer of the Company w.e.f. January 29, 2020 due to his personal reasons. The company shared…
Voltas Limited – A Tata Enterprise, made a thumping entry into the Indian consumer durables market today with the launch of their brand – Voltas Beko. The new company, Voltbek Home Appliances Private Limited (Voltbek), an equal partnership joint venture, has introduced a wide range of home appliances which include Refrigerators, Washing Machines, Microwaves/Ovens, and…
Rahul Bajaj, the Whole-time Director and Chairman of the company who has been a Director of the Company since 1 April 1970, was last re-appointed by the Board for a five year term with effect from 1 April 2015. The tenure of appointment of Rahul Bajaj as Executive Chairman is expiring on 31 March 2020.…
After issuing pink slips to about 15-20 % of its 12,000 strong workforce earlier this month, OYO Hotels and Homes have rolled out benefits for the outgoing members. To lessen the burden of the leaving employees, OYO has offered services like outplacement, gross pay of 3.2months, personal insurance for 90 days and parental insurance of…
Unotech Software, an enterprise technology startup, has raised $2Mn Series A funding led by Mosaic Capital. The company was founded by Vikash Jha in 2011. The startup will utilize these funds to reconstruct the company’s market presence and relaunch its website to share its offerings under a new stratagem. In a media statement, Vikash Jha,…