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According to media reports, Harsh Rai, VP and General Manager of Sales, PepsiCo has resigned from his post, ending his long association (almost 17 years) with the company. Ajit Dheer, the current Managing Director of NourishCo, the joint venture between Tata- PepsiCo, will be succeeding Harsh Rai. A PepsiCo India spokesperson confirmed the development to ET.…
The Chief Executive Officer of Myntra, Ananth Narayanan has stepped down from his post according to a Mint article. Myntra’s chief executive officer (CEO) Ananth Narayanan has resigned from his role with his position set to be abolished, and Flipkart executive Amar Nagaram has been tasked with heading Myntra, Mint reported. Myntra’s chief revenue officer, Mithun…
Citing personal reasons Reserve Bank of India Governor, Urjit Patel has stepped down from his post. Patel, 55, took over as the 24th Governor of the central bank on September 5, 2016, for a term of three years. He had the shortest tenure since the year 1992. “On account of personal reasons, I have decided to step…
The government has appointed Krishnamurthy Subramanian, an IIT-IIM alumnus, as the Chief Economic Adviser for a period of three years. “The Appointments Committee of the Cabinet (ACC) has approved for the appointment of Dr Krishnamurthy Subramanian, Associate Prof. and ED (CAF), ISB, Hyderabad, to the post of Chief Economic Adviser,” said a government notification. Currently,…
IBM and HCL Technologies (HCL) today announced a definitive agreement under which HCL will acquire select IBM software products for $1.8 billion. The transaction is expected to close by mid-2019, subject to completion of applicable regulatory reviews. The software products in scope represent a total addressable market of more than $50 billion and include: Appscan for…
Renault Nissan Automotive India Pvt Ltd (RNAIPL), which produces passenger vehicles for Renault and Nissan brands on Thursday announced the appointment of Biju Balendran as the firm’s Managing Director and Chief Executive Officer. Biju has more than two decades of experience in automobile manufacturing field in India and international markets. He was the first employee to join RNAIPL…
Homegrown Private equity firm ChrysCapital announced that it has acquired about 80% stake in GeBBS Healthcare Solutions for a deal worth Rs 1,000 crore ($140 million). Founded in 2005, the US-based GeBBS Healthcare Solutions provides business process outsourcing (BPO) services to hospitals and healthcare organizations. GeBBS will continue to be led by Nitin Thakor and Milind Godbole…
IL&FS Investment Managers, part of the debt-laden IL&FS group, on Thursday announced that its board has appointed Nand Kishore and Kaushik Modak as additional directors in the company. Kishore and Modak have been appointed to the board in the capacity of nominee directors of Infrastructure Leasing & Financial Service. “The board of directors of the company…
The drug company, Novartis India has announced that its India Managing Director and Chairman, Milan Paleja has resigned and has decided to step down from the company, with effect from May 31, 2019. “We wish to inform you that, Mr Milan Paleja, Vice Chairman & Managing Director of the Company has informed the Board of…
Ogilvy, the New York City-based British advertising, marketing, and public relations agency has appointed Piyush Pandey as its global chief creative officer (CCO), effective 1 January 2019. Ogilvy also announced the expansion of its worldwide creative council from 12 members to 20, with women comprising half of the creative leadership team. Pandey, 63, is currently the executive chairman…
Zomato, the restaurant search, and discovery platform have acquired a drone delivery startup TechEagle Innovations. Lucknow-based TechEagle Innovations works exclusively on drones and will help Zomato’s ambition to create technology that will power hub to hub delivery networks powered by hybrid multi-rotor drones, Zomato said in a statement. Founded in 2015 by IIT-Kanpur student Vikram Singh…
Girnarsoft, which owns online auto portal Cardekho, is raising a massive $100 million in its latest investment round led by Sequoia Capital. Its expected that the existing investor Hillhouse Capital will also be participating in the round. According to an ET post, the investment values Gurgaon-based Cardekho between $400 million and $500 million, which is a little higher than…
AXIS Capital Holdings Limited, the holding company for AXIS group of companies announced that its MD & CEO Dharmesh Mehta has stepped down. The bank also said that it has elevated Salil Pitale and Chirag Negandhi as Joint Managing Directors and Co-Chief Executive Officer with immediate effect. “Dharmesh Mehta, MD & CEO of Axis Capital today…
Warburg Pincus LLC, an American private equity firm has acquired a minority stake in Fusion Microfinance, a non-banking financial company (NBFC) for Rs.520 crore ($ 75 million). Creation Investment, an existing investor, has also participated in this round. Investors such as Belgium’s Incofin, NMI, BIO and SIDBI have made successful exits in this round. “This is…
Audi, a member of the Volkswagen Group that designs, engineers, produces, markets and distributes luxury vehicles announced on Tuesday that it will invest 14 billion euros ($15.95 billion) over the next five years on future transportation technologies such as electric mobility, autonomous driving, and digital services. In a statement, the German automaker said that the…