Sir Jonathan Evans, is set to join HSBC’s board as a non-executive director in August 2013. He has spent about three decades at the intelligence service (MI5) as Director-General. He will also become a member of a special committee HSBC created to help combat financial crime. The special unit was set up after the bank…
Category: News
Blue Star to make strategic investment in Activecubes
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Blue Star Infotech Limited, a leading software services solution provider has entered into definitive agreements for a strategic alliance and equity investment in Activecubes Solutions India Pvt. Ltd., a global firm operating in the Decision Management Space. Activecubes is a leading provider of Business Intelligence and Analytics solutions. Emerging technologies such as BI/ Analytics…
BALCO appoints Ramesh Nair as Chief Executive Officer
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Bharat Aluminium Company (BALCO) has announced the appointment of Ramesh Nair as the company’s Chief Executive Officer. Bharat Aluminium Co. Ltd. (BALCO) was incorporated in the year 1965 as a Public Sector Undertaking (PSU). In 2001, Govt. of India divested 51 % of the company in favour of Sterlite Industries (I) Limited (A Vedanta Group…
Infosys Board appoints Mr. N R Narayana Murthy as Executive Chairman of the Board
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Infosys Limited Board has appointed Mr. N R Narayana Murthy into the Board and executive leadership of the Company. In a meeting held earlier today, the Board approved appointing Mr. N R Narayana Murthy as Executive Chairman of the Board and Additional Director with effect from June 1, 2013. Mr. Murthy’s election as a…
Kevin Freeland to take charge as the new Co-CEO for Federal-Mogul
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The Board of Directors of Federal-Mogul Corporation (NASDAQ: FDML), a global supplier of powertrain and safety technologies, and of leading brands in the worldwide automotive aftermarket, has elected Kevin P. Freeland to the position of Co-Chief Executive Officer of Federal-Mogul Corporation and Chief Executive Officer, Federal-Mogul’s Vehicle Components Segment (VCS), effective June 17, 2013. Mr.…
Procter & Gamble brings back Alan George Lafley as CEO
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Alan George Lafley has re-joined the Procter & Gamble (NYSE:PG) as President and Chief Executive Officer. This announcement was made by Procter & Gamble (NYSE:PG) last week. His joining comes post the retirement of Robert A. McDonald, on June 30, 2013, after 33 years of service. Jim McNerney, presiding director of P&G’s Board, said, “A.G.’s…
Etienne Benet to take over as Managing Director for Nestlé India
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Nestlé India Ltd has informed BSE that Antonio Helio Waszyk, Chairman and Managing Director, shall step down from the position of Managing Director with effect from October 01, 2013, to take up a new assignment within Nestlé Group. He would continue to be the Non-Executive Chairman of the Company. Mr. Etienne Benet would take over…
Disney lays off hundreds of ESPN employees.
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ESPN, the leading sports network in America laid off about 400 employees last week. It is understood that more layoffs are planned in coming weeks. In their statement released to media, the company has said that the layoffs are a part of company wide changes to ensure their growth and profitability. From available reports –…
Possibilities for Mergers and Acquisitions in Global Healthcare Technology Industry: Frost & Sullivan
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The healthcare technology industry is expected to become mature and stable by the end of Financial Year (FY) 2013, with an expanding net margin and steady Selling and General Administrative (SG&A) expenses. The increasing cash reserves in the industry highlight the possibilities of mergers and acquisitions. New analysis from Frost & Sullivan – Financial Assessment…
Now Jobs come along with an insurance policy.
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HDFC Life has kicked off an initiative called Swabhiman Careers. Under the initiative, post settlement of the claim, the company will consider dependents of a policy holder for possible employment opportunities with the company. The initiative is supposed to build long term relationship with the customers by offering employment opportunity to deceased policy holders family.…
Kingfisher Airlines Executive Vice President Hitesh Patel resigns.
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Kingfisher Airlines Executive Vice President Hitesh Patel has put in his papers. Patel, with over 30 years of experience in civil aviation, was a key member of the start-up team responsible launch of Kingfisher Airlines in 2005, having joined in August 2004. He is one of the longest serving employees and has continued with the…
Yahoo! to Acquire Tumblr for $ 1.1 billion all in cash.
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Yahoo! Inc. and Tumblr have announced that they have reached a definitive agreement for Yahoo! to acquire Tumblr. Per the agreement and our promise not to screw it up, Tumblr will be independently operated as a separate business. David Karp will remain CEO. The product, service and brand will continue to be defined and developed…
iGATE President and CEO Phaneesh Murthy fired – Sexual Harassment or Policy Violation
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iGATE Corporation, announced yesterday that its Board of Directors has decided to terminate the employment of President and CEO Phaneesh Murthy. The decision of iGate board comes following a following a complaint of sexual harassment by a subordinate employee. The company announced that Gerhard Watzinger would take over his responsibilities as CEO “on an interim…
Air Asia India appoints Mittu Chandilya as CEO
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Air Asia India has appointed Mittu Chandilya, to head the operations of the airline in India. His appointment was announced by Air Asia’s founder Tony Fernandes on Twitter. Tont Fernandes tweeted – "The board of Air Asia has appointed Mittu Chandilya as the CEO of the company. Mittu is coming home to change Indian travel…
BHEL to invest 500 Crs. in new plant in Bhandara (Maharashtra)
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BHEL, the integrated power plant equipment manufacturer and one of the largest engineering and manufacturing companies in India(in terms of turnover) is setting up a power equipment fabrication plant in Bhandara, Maharashtra. The project will initially require an investment of Rs. 500 Cr.The new plant is estimated to generate employment for around 700 people. The…