HSBC (The Hongkong and Shanghai Banking Corporation) Holdings Plc recently announced that the bank will witness a major overhaul that would reduce the number of staff to 200,000 from 235,000 over the next three years. The announcement comes after the bank reported that it has missed the pre-tax profit expectations after the bank took a…
Leading solar rooftop solutions provider Vikram Solar has reportedly decided to lay off 320 employees from one of its manufacturing facilities at Falta in the state of West Bengal. The recent layoffs come just ten days after industry veteran Saibaba Vutukuri took charge as the Chief Executive Officer. Through the means of a media statement,…
Insurance aggregator Coverfox is a boat floating in hot waters. The firm’s Co-founder and Chief Technology Officer Devendra Rane had resigned from his position a month ago and now the company’s Chief Executive Officer Premanshu Singh has resigned due to uncertainty about the company’s future. According to a report by Entrackr, the company’s executives had…
Japanese conglomerate SoftBank, who has been aggressively investing in the Indian start-up system, is reportedly considering buying a minority stake in Mahindra Electric Mobility. According to a Business Standard report, the two companies have begun preliminary talks for an alliance. Mahindra’s Electric Vehicle manufacturing arm is a subsidiary of Mahindra & Mahindra, said a few…
The CXOs are the brain and soul behind every company decision. It is their expertise, knowledge, and capabilities that can either take the organization to new heights or hamper the growth of the company. Choosing a CXO is a tough and tiring task for any organization. There are a lot of factors to be considered…
MakeMyTrip has recently announced that its current Group Chief Executive Deep Kalra will be stepping down from his position giving the helm of the company to Rajesh Magow. “(Kalra) will devote his full time to pursuing strategic initiatives, including product innovation and expansion, geographic growth, business model innovation, and corporate development, in his new role…
India has a big pool of talent, capable of changing the world for good. Indians for long have been making their mark in the world with their brilliant innovations and life-changing discoveries. In the business ecosystem as well, Indians have proved their worth, leading global companies. Especially in the technology industry, Indian-origin Chief Executive Officers…
Amazon recently announced that it has hired streaming and TV veteran Mike Hopkins to lead its video entertainment business like Prime Video and Amazon Studios. Hopkins was earlier working with Sony as Chairman of Sony Pictures Television. His appointment will come in effect from February 24. Hopkins will directly report to the Amazon founder and…
Founder Gyanesh Chaudhary to remain MD and focus on new ventures. Leading solar rooftop solutions provider, Vikram Solar recently announced that the company has appointed industry veteran Saibaba Vutukuri as Chief Executive Officer. In an official press release, the company said, “This announcement comes in at an important juncture, marking the next phase of growth…
McAfee, LLC, the device-to-cloud cybersecurity company, announced that its Board of Managers has appointed Peter Leav to the role of Chief Executive Officer, effective February 3, 2020. Leav will succeed Chris Young, who has decided to step down as Chief Executive Officer of McAfee. Young will remain at McAfee in an advisory role to assist…
“My time with IBM has been among the most fulfilling periods of my career, working closely with clients on their most challenging business transformation initiatives. I’ve valued this opportunity tremendously and will take only good memories with me to this next important chapter – one that many of you will have undertaken.” she said.
Informatica, the enterprise cloud data management leader, has announced that its Board of Directors has named Amit Walia Chief Executive Officer. Amit succeeds Anil Chakravarthy, who is stepping down from his role as CEO after leading the Company during a period of meaningful transformation and growth to pursue other professional opportunities. Prior to joining Informatica,…
In the wake of the new guidelines proposed by market regulator SEBI, Wipro Chairman Rishad Premji might lose his executive powers in the tech company after 1 April, as per a TOI report. In 2018, SEBI through its rules had directed the top 500 listed companies in India to ensure that their chairperson is a…
The former head of Nissan Motor Co. and Renault SA Carlos Ghosn who was about to face the first of two trials in Tokyo on charges of financial misconduct and raiding corporate resources for personal gain reportedly fled to Lebanon. Ghosn somehow evaded round-the-clock manned and video surveillance and heavy restrictions on his freedom of…
Lakshmi Vilas Bank, a personal banking service provider, has announced the resignation of its Chief Financial Officer (CFO) S Sundar. Earlier in August 2019, their Chief Executive Officer Parthasarathi Mukherjee had resigned from the position citing personal reasons. In a BSE filing, the company said, “In terms of SEBI (Listing Obligation and Disclosure Requirements) Regulations,…