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A committee comprising top Indian CEOs has argued that India’s proposed free trade agreements (FTAs) could help push exports of auto components and textiles, while also suggesting a sustained effort to reduce five disabilities for domestic companies — cost and ease of doing business, market access via trade treaties, technology and quality issue and supporting … Continue reading Lower costs, ink FTAs to push exports: CEO panel

The Life Insurance Corporation of India (LIC) will now have the post of chief executive officer and managing director instead of the chairman position, with the government making changes to relevant rules ahead of the insurer’s initial public offering this fiscal.

Taking a tough stance on the governance of urban cooperative banks, the Reserve Bank of India (RBI) on Friday announced minimum qualifications and age limits for CEOs and whole-time directors of these banks as part of its ‘fit and proper’ criteria.

As Covid-19 ravaged the world last year, CEOs’ big pay packages seemed to be under as much threat as everything else. Fortunately for those CEOs, many had boards of directors willing to see the pandemic as an extraordinary event beyond their control.

Almost three decades ago, Sunil Vachani borrowed $35,000 so he could start making 14-inch television sets in a rented shed outside New Delhi. It was an unconventional choice given India, though renowned for software and services, had long lagged behind in manufacturing.

Shares in Ferrari slipped on Friday after the sudden departure of CEO Louis Camilleri for personal reasons, who is leaving just as the luxury carmaker seeks to boost its share of hybrid models and prepares to roll out its first SUV.

Coffee Day Enterprises Ltd, the owner of the Cafe Coffee Day chain, appointed founder and former chairman V G Siddhartha’s wife as its chief executive officer on Monday, more than a year after the coffee baron was found dead in a river in Southern India in an apparent suicide.

Infosys CEO Salil Parekh on Wednesday said the company is “well positioned” to continue with its growth and margin trajectory in the quarters ahead on the back of its focus on digital, large deals, expansion of existing accounts and attention to new clients.

Wipro CEO Thierry Delaporte is undertaking a major organisational overhaul in an effort to revive growth. Wipro’s growth is the weakest among its peers. Delaporte is collapsing layers and trying to simplify the structure. In the latest earnings call, he spoke about fewer P&Ls, fewer teams and fewer metrics.

Citigroup named Jane Fraser as its next chief executive on Thursday, tapping a woman to lead a giant Wall Street bank for the first time. She will take over the top job in February, replacing Michael Corbat who will retire.

India’s B9 Beverages, maker of popular craft beer Bira, is in talks with international brewers and investors to sell a stake of up to 20% in the company, its chief executive said on Tuesday. “We’ve been looking for a combination: (an) international beer company as a strategic investor and a separate financial partner,” CEO Ankur … Continue reading Bira talking to foreign cos on stake sale: CEO

Cognizant is being called the new CEO factory. Senior executives leaving the company following new CEO Brian Humphries’ restructuring initiative are finding top roles in others, despite the difficulties caused by the Covid-19 pandemic. Most are being hired by companies much smaller than Cognizant, perhaps to take advantage of their experience in scaling up.

Ashwani Lohani, the “turnaround specialist” who headed Railway Board and Air India, has now joined infra major GMR Group as CEO of its Services Business. The group, which is India’s biggest private-sector airport developer, is now eying railway stations as the government plans to run many of them the PPP way. GMR Group’s Services Business … Continue reading Ashwani Lohani joins GMR Group firm as CEO

British luxury carmaker Aston Martin plans to shed up to 500 jobs as it seeks to bring its cost base into line with reduced sports car production levels, it said on Thursday. The job cuts come a week after Aston Martin confirmed that Tobias Moers, CEO of Mercedes-AMG, would become chief executive on August 1, … Continue reading Aston Martin to shed up to 500 jobs in cost cutting drive

The Enforcement Directorate on Wednesday filed a charge sheet against Yes Bank co-founder Rana Kapoor, arrested on money laundering charges, in a special court. Kapoor, the former MD and CEO of Yes Bank, was arrested by the ED on March 8 under the Prevention of Money Laundering Act (PMLA). He is accused of sanctioning loans … Continue reading Yes Bank: ED files charge sheet against Kapoor

Dismissing fears of legal action against manufacturing facilities, including imprisonment of the CEO or temporarily sealing of the factory if an employee tests positive for Covid-19 on the premises during lockdown, the Centre on Thursday clarified that there is no such clause in the consolidated revised guidelines of April 15 and such apprehensions are ‘misplaced’.

The former managing director and CEO of the private lender was arrested by the ED here on March 8 under provisions of the PMLA (Prevention of Money Laundering Act) as he was allegedly not cooperating in the probe related to the crisis at Yes Bank which has been placed under moratorium by the RBI.

Robert (Bob) Iger abruptly stepped aside as Walt Disney’s chief executive officer, handing the reins to theme parks head Bob Chapek after years of speculation over who would succeed the longtime CEO of the world’s largest entertainment company. Iger will stay to direct creative endeavours through 2021 as Chapek lands one of the most coveted … Continue reading Robert Iger makes surprise exit from Disney