At least 40 companies, including names like Tata Consultancy Services (TCS), Tata Motors, Satyam, Firstsource and Union Bank, announced changes in their board-level and other top positions today -- the first working day of the new fiscal.
Indicating towards a a new-look leadership team in the new financial year, a host of others, including many PSUs and business conglomerate Tata group, are also expected to see top-level changes later during the fiscal 2012-13.
The changes announced today mostly relate to various director-level positions, while new appointments have been made for top posts like Chief Executive Officers (CEOs), Chairman and Managing Directors as well in some cases.
Those having announced changes in their board-level and other top positions today included TCS, Tata Motors, Satyam, Firstsource, Suzlon Energy, Union Bank of India, BHEL, HCL Infosystems, Honda Siel Power Products and Allahabad Bank.
Besides, entities like Great Offshore, Diamond Power Infrastructure, Indusind Bank, Balaji Telefilms, Smartlink Network Systems, MARG Ltd and Suryachakra Power also announced senior-level movements.
At least 22 companies made these announcements by early afternoon, while various board-level changes were announced later in the day by more than 20 firms, including by TCS, Neyveli Lignite, United Bank, Mindtree, Visa Steel, Mahindra Satyam and Sun Pharmaceutical.
Other such companies included Diamines & Chemicals Ltd, GM Breweries, APW President Systems, Cimmco, Bodal Chemicals and Easun Reyrolle, Orient Ceramics, Indiaco Ventures, Numeric Power Systems and Indian Bright Steel Company.
The salt-to-software conglomerate Tata Group's chief Ratan Tata will be succeeded by Cyrus Mistry later this fiscal in December 2012.
Besides, a number of PSUs (public sector undertakings) would witness changes in various board-level positions, including top posts of Chairman and MDs, later this fiscal.
As per the Public Enterprises Selection Board (PESB), which is responsible for recruitment of senior-level positions at PSUs, a total of 49 vacancies need to be filled in the coming months at various public sector firms.
This include Director-level positions at Powergrid, Coal India, ONGC, Nalco, BSNL, HAL, Hudco, Shipping Corporation, PFC, Neyveli Lignite, NTPC and Engineers India Ltd.
Besides, PESB has got vacancies for the post of Chairman and Managing Director (CMD) at companies like MOIL Ltd, Heavy Engineering Corporation Ltd, STC, RITES Ltd, HSCC (India) Ltd, Fertilizers & Chemicals Travancore Ltd (FACT), Encore Port Ltd, Electronics Corporation of India Ltd, BEML Ltd, NBCC and Andrew Yule & Company Ltd.
