Aditya Birla Retail (ABRL) may plan to shut down some of its loss making and non productive stores towards ensuring better profitability of the company. It is learnt that the company has initiated the process of closure of some of its outlets and there is more to come. The process is also expected to lead…
Yahoo layoffs to hit next week ..
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Yahoo Inc. may be laying off a number of employees as a part of major organization restructuring. The layoffs could impact thousands of employees and may kick off starting next week. It is reported that the job cuts would mostly impact the product, research and marketing units of Yahoo. The layoffs and re structuring would…
Kirti Vagadia assumes CFO responsibilities, replacing Robin Banerjee – Suzlon Energy
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Pune: 30th March 2012 – Suzlon Group today announced that Kirti Vagadia is assuming full CFO responsibilities as Robin Banerjee leaves the company to take up a new position outside the Group. Suzlon Group’s Chairman, Tulsi Tanti, said: “Kirti Vagadia has been overseeing this function at a Group level, so as we look to streamline…
KKR (Kohlberg Kravis Roberts) India appoints Tashwinder Singh as Director
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Kohlberg Kravis Roberts & Co. L.P. (together with affiliates, “KKR”) has appointed Tashwinder Singh as Director of KKR India based in Mumbai. Mr. Singh joins KKR after serving over 18 years at Citigroup India. Leveraging his commercial and private banking experience where he advised promoters, Mr. Singh will identify and develop strategic partnerships to grow…
Citi India appoints Sameer Kaul as Head of Citi Private Bank
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Citi India has appointed Sameer Kaul as the Head of its Private Bank. Launched in 2005 in India, Citi Private Bank (CPB) has grown to be one of the leading wealth managers in India. Most recently, Sameer was the Head of Retail Branch Banking business in India where he ran Citi’s network of 42 branches…
Alexander Hughes, European Executive Search firm sets its India office with Pankaj Dutt as Country Head
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New Delhi, India: Alexander Hughes, an European leader in executive search has established its presence in India, by acquiring a local executive search company with an existing portfolio of Indian and MNC clients. The Indian operations of the firm would be led by Pankaj Dutt, who has been appointed as the Country Managing Partner and…
McDonald’s CEO Jim Skinner to Retire – Don Thompson would be the new CEO
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McDonald’s Corporation (NYSE: MCD) today announced that Vice Chairman and Chief Executive Officer Jim Skinner has informed the Board of Directors of his decision to retire after 41 years with the Company, effective June 30, 2012. Oak Brook, Illinois, March 26, 2012 — McDonald’s Corporation (NYSE: MCD) today announced that Vice Chairman and Chief Executive…
New CEOs for PepsiCo foods & beverages
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Praveen Someshwar, presently the CEO of PepsiCo – Beverages, would take over as CEO for PepsiCo Foods, a position rendered vacant after the surprise and unexpected exit of Varun Berry from the position earlier in Feb 2012. Gautham Mukkavilli, Senior VP (Global Nutrition Group) – PepsiCo Asia, Middle East and Africa based in Dubai, would…
HP Announces Organizational Realignment
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PALO ALTO, Calif., March 21, 2012 HP today announced an organizational realignment to improve performance and drive profitable growth across the entire HP portfolio. As part of this realignment, HP’s Imaging and Printing Group (IPG) and its Personal Systems Group (PSG) are joining forces to create the Printing and Personal Systems Group. The combined entity…
Shell appoints Nitin Prasad as the new country head for India
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Shell Lubricants, the global market share leader in finished lubricants announced the appointment of Mr. Nitin Prasad as the new country head – India, Shell Lubricants. Mr. Prasad will be replacing Mr. Donald Anderson, who served this position for the last 3 years. Shell Lubricants is looking forward to further its focus on growth, through…
Updated: New Top Team at Tech Mahindra & Mahindra Satyam merged entity
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Merger of Tech Mahindra & Mahindra Satyam
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The Boards of Directors of Tech Mahindra Limited (“Tech Mahindra”) and Satyam Computer Services Limited, (“Mahindra Satyam”), in their respective meetings held today, approved a proposal to merge Mahindra Satyam with Tech Mahindra along with certain wholly owned subsidiaries of Mahindra Satyam and Tech Mahindra. The Tech Mahindra & Mahindra Satyam merger heralds the creation…
HDFC Bank appoints Donald D’Souza as Head of Equity Capital Markets – Investment Banking Division
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HDFC Bank, the second largest private sector bank in the country, has appointed Mr. Donald D’Souza as its Head of Equity Capital Markets in the Investment Banking division. Mr. D’Souza will be responsible for building the equity capital markets business that includes origination and execution of capital raising mandates. He will report to Mr. Rakesh…
Deutsche Bank raises the capital base of India operations to over Rs. 5500 cr
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Deutsche Bank, the German banking leader and a key global player in the investment banking space has increased the capital base for its India operations by Rs. 450 crore. This increase in capital is expected to fuel its growth plans, and the move is seen at the banks increasing focus on the Indian market. The…