Microsoft-owned LinkedIn, the business and employment-oriented service that operates via websites and mobile apps, on Thursday announced the appointment of Mahesh Narayanan as Country Manager for India, effective from January 7, 2019. Narayanan has over two decades of experience in building and growing digital businesses in South Asia. Previously, he has served many digital business…
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GlaxoSmithKline plc and Pfizer Inc to form new Consumer Healthcare Joint Venture.
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GlaxoSmithKline plc has reached an agreement with Pfizer Inc to combine their consumer health businesses into a new world-leading Joint Venture, with combined sales of approximately £9.8 billion ($12.7 billion). The JV will operate globally under the GSK Consumer Healthcare name. Under the terms of the transaction, GSK will have a majority controlling equity interest…
Tata Motors appoints Ravindra Kumar G.P as its President & Chief Human Resources Officer.
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Tata Motors on Wednesday announced the appointment of Ravindra Kumar G.P as its President & Chief Human Resources Officer. “Ravindra will oversee all human resource operations for Tata Motors, effective December 17, 2018. He will report into Mr. Guenter Butschek, CEO Tata Motors and will be a member of the Executive Committee.” the company said…
Ola invests $100 million in scooter-sharing start-up Vogo
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India’s leading ride-hailing company Ola has decided to invest an additional $100 million in scooter-sharing startup Vogo, this new funding will help the firm to expand its current fleet. The scooter-sharing startup started its service eight months ago with 2000 scooters in Bengaluru and Hyderabad, now with this new funding, the firm can acquire 100K new scooters that…
IDFC Bank and Capital First merged to form IDFC First Bank, appoints V Vaidyanathan as MD and CEO.
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IDFC Bank Ltd. and Capital First Ltd. today announced the completion of merger following the approval of shareholders and regulators. The merged entity will be called IDFC First Bank, subject to shareholders’ approval. V Vaidyanathan, Founder and Chairman of Capital First will be the Managing Director and Chief Executive Officer of the merged entity. He…
Tata Motors’s subsidiary JLR likely to slash 5,000 jobs.
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Tata Motors’s subsidiary Jaguar Land Rover Limited is likely to cut jobs next year as part of its £2.5 billion cost-saving plans. However, the UK-based luxury carmaker declined to comment on reports. After a loss of £90 million in the three months to September, hit by falling sales in China and Europe, JLR started focusing on improving profitability and cashflow.…
Hitachi Acquires ABB’s Power Grids Business.
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Hitachi, Ltd. the Japanese multinational conglomerate company headquartered in Tokyo, today announced that it has decided to acquire the world-leading power grids business from Switzerland based ABB Ltd and has signed an agreement with ABB. The firm plans to initially acquire an 80.1% stake in the Power Grids business and expects to close the acquisition…
Shriram Properties appoints five Independent Directors to its board.
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Shriram Properties Limited (SPL), one of the leading residential real estate development companies, primarily focused on the mid-market and affordable housing categories in South India, has announced the appointment of 5 independent directors from diverse backgrounds to its Board of Directors. The 5 new independent directors who have joined the board are: T.S.Vijayan – Former…
IndoSpace closes third logistics real estate fund at $1.2 billion.
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IndoSpace, one of India’s leading developer of industrial real estate and warehousing facilities, announced today that it held the final close on IndoSpace Logistic Parks III (“ILP III” or the “Fund”), the largest logistics real estate fund ever raised in India. The offering was significantly oversubscribed on the back of strong investor demand. US$ 580…
Oppo sets up R&D center in Hyderabad, plans to hire 500 engineers.
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The Chinese consumer electronics and mobile communication company, Oppo Electronics Corporation (commonly referred to as Oppo), has set up its first research and development (R&D) center in India, Hyderabad, this new center is said to be the 4th R&D set up globally and the largest outside China. However, the company did not disclose the investment details. “The brand…
President & CHRO of Tata Motors, Gajendra Chandel Quits.
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Gajendra Chandel, President and CHRO at Tata Motors Ltd, has decided to move on from Tata Motors after serving the firm for 14 long years. “Gajendra Chandel has decided to move on from his role at Tata Motors … to pursue his entrepreneurial interests,” a Tata Motors spokesperson said an email response to ET’s queries. Chandel…
Alibaba-backed Lazada appoints Pierre Poignant as its new CEO, Lucy Peng steps down.
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Lazada Group, Southeast Asia’s leading eCommerce firm, has announced, as part of succession planning in the group, that its Executive President Pierre Poignant will succeed Lucy Peng as Chief Executive Officer of Lazada Group with immediate effect. Peng will remain Lazada Group Executive Chairwoman. Poignant, who was appointed Group Executive President in August 2018, will…
Walmart Labs India acqui-hires AI startup Int.AI.
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Walmart Labs India, the local product development division of US retail giant Walmart has acqui-hired key tech team from Artificial Intelligence (AI) and data analytics start-up Int.AI, this is the second acqui-hire made by the retailer in India Acqui-hire refers to the buy out (a company) primarily for the skills and expertise of its staff, rather than for…
Ambuja Cements MD and CEO Ajay Kapur Quits.
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Ajay Kapur, MD, and CEO of Ambuja Cement have decided to step down from his position next year after serving the company for 26 years, the company announced in a stock exchange filing. Kapur will step down from his current role from March 1, 2019, and has decided to pursue a career outside the cement industry. “It…
Google acquires Sigmoid Labs, the developer of “Where is my Train” app.
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Google LLC, an American multinational technology company that specializes in Internet-related services and products, has acquired Bengaluru-based startup Sigmoid Labs, the parent company of popular train-tracking application “Where is my Train.” “We’re excited to share that Sigmoid Labs, the team behind the “Where is my train” app, is joining Google. We can think of no better…