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AI Express-AIX Connect merger key in transformation journey: Wilson

The merger of AIX Connect with Air India Express is an important milestone in the transformation journey of Air India Group and the merged entity will cater to the growing air travel demand, Campbell Wilson said on Tuesday. Wilson is the Managing Director and Chief Executive Officer of Air India as well as the Chairman of Air India Express. Aviation regulator DGCA has approved the merger of AIX Connect with Air India Express, which will now focus on future growth and transformation agenda, according to a release. The merged entity will operate under the 'Air India Express' name and a unified airline code 'IX'. With the merger completed, Air India Express will focus on a future growth and transformation agenda. "About a year ago, we started the integration of AIX Connect and Air India Express, bringing the two organisations together behind a common brand. "Alongside, we worked on the complex integration exercise culminating today in the operational and legal merger of the two ...

13 candidates in fray for PNB top job; FSIB may hold interviews next month

Among the contenders are two executive directors (EDs) from Bank of Baroda, one ED each from Union Bank of India, Indian Overseas Bank, and Canara Bank, and several deputy MDs from SBI

NCLAT junks plea of Liberty Shoes' former CEO seeking ease of norms

Appellate tribunal NCLAT has dismissed the petition of Adesh Kumar Gupta, former CEO and Executive Director of Liberty Shoes, seeking an exemption from minimum shareholding norm to file a case of oppression and mismanagement against the company. Gupta has 5.83 per cent shareholding in Liberty Shoes. He was removed as an executive director of Liberty Shoes on September 30, 2023 and ceased to be the chief executive officer (CEO) of the company. However, the company informed the stock exchange about his removal from the board on November 21, a day after the Chandigarh bench of the National Company Law Tribunal (NCLT), on November 20 last year, dismissed his earlier plea. Gupta then moved NCLAT and sought a waiver under section 244 of the Companies Act in order to file a petition under Section 241, alleging oppression and mismanagement against him by the majority promoter block on the board. As per norms, a plea alleging oppression and mismanagement under Section 241 should be backed

Nokia denies report on moves to replace president, CEO Pekka Lundmark

"The Board fully supports President and CEO Pekka Lundmark and is not undergoing a process to replace him," Nokia said in a statement

Accenture elevates Arundhati Chakraborty as group CEO of operations

Yusuf Tayob, who will leave the role as group chief executive of Operations to become the global Communications, Media, and Technology (CMT) industry practices chair at Accenture

UKG names Jennifer Morgan as new CEO, Nitin Chandel to lead India business

UKG (Ultimate Kronos Group) on Monday announced the appointment of Jennifer Morgan as its new CEO, and Nitin Chandel as the new Group Vice President and Country Manager for India. UKG is a provider of HR, payroll, and workforce management solutions. It serves 80,000 businesses across more than 150 countries. Morgan succeeds Chris Todd, who stepped down earlier this month. She holds over three decades of experience in the enterprise software industry, having served as global head of portfolio operations at Blackstone, and co-CEO at SAP. Morgan told PTI that she envisions scaling the company's operations in India and growing UKG's India headcount by a third in FY25, building on the "strong base" of 3,000 employees. Currently, UKG's solutions are used by over 1 million employees in India across sectors like manufacturing, IT, BPO, retail, IT, and healthcare, she said. In 2020, Ultimate Software and Kronos merged in a USD 22 billion deal and rebranded as -- UKG (Ultimate Kronos Group)

Starbucks CEO to travel 1,600 kms to work by corporate jet

Indian diaspora in US top contributors in politics, economic growth & tech

Influence of the Indian diaspora in the US extends from driving economic growth to enriching cultural diversity, contributing more than $300 billion annually in tax revenues to the federal treasury

Starbucks names Chipotle's Brian Niccol as CEO amid activist pressure

Niccol replaces Laxman Narasimhan, who was tapped in 2022 from Lysol maker Reckitt to undertake a "reinvention" of the world's biggest coffee chain

YouTube Shorts surpass trillion views, CEO Neal Mohan lauds Indian creators

YouTube Shorts, a 60-second video format which made its global debut in India in 2020, has surpassed a trillion views, YouTube CEO Neal Mohan announced on Wednesday as he highlighted the global impact of Indian content creators. Mohan, who was speaking at the YouTube Brandcast 2024 event here, said YouTube has become a platform that enables people to tell their stories. "Indian creators are making videos inspired by local trends that go on to define global culture. YouTube is number one in reach and watch time in India. And we just passed a huge milestone. Shorts, which we first launched in India, now have trillions of views here," he said. YouTube is the most streamed service on Connected TVs (cTV) in India with viewership growing 4x in the last three years, he added. "These creators and artists have business strategies, writers' rooms, and production teams. They're creating programs that people love to watch. And along the way, they're redefining entertainment, news, and educatio

NIIT announces appointment of Pankaj Jathar as chief executive officer

Jathar has over 25 years of professional experience in consumer-focused businesses, including e-commerce, startups, and D2C ventures

Salesforce starts public sector division; enters digital creditors' market

Salesforce on Wednesday announced the launch of its public sector division in India to tap into the booming market and unveiled its digital lending offering tailored to Indian needs, as the enterprise software giant underlined its firm commitment to the market here. The company also highlighted insights from an (International Data Corporation) IDC study, which indicated that the Salesforce economy is expanding, with AI accelerating its growth trajectory. The IDC study forecasts that Salesforce and its ecosystem of customers and partners in India are expected to create a net gain of 1.8 million new jobs and generate USD 88.6 billion in new revenues from 2022 to 2028. Arundhati Bhattacharya, CEO and Chairperson of Salesforce India said growth potential here is huge, with rapid digital transformation unfolding all across. "India has talent and capability and now we are seeing far quicker adoption," she said at a media briefing. India is an "outlier" in digital adoption, and while dig

Nachiket Pantvaidya appointed General Manager of Sony Pictures India

Sony Pictures Entertainment on Tuesday said it has appointed Nachiket Pantvaidya as General Manager of Sony Pictures International Productions (SPIP), India. He will oversee local Indian production while working alongside Shony Panjikaran, General Manager and Head of Sony Pictures Releasing International, India, the company said in a statement. "As he takes up this new assignment, he will continue to perform his duties as CEO, Sony Entertainment Talent Ventures in parallel," it added. An industry veteran, Pantvaidya was the Group CEO, Balaji Telefilms and Business Head of Sony Entertainment Television. He was also the Business Head of Star Plus and held several roles in the Star TV network, including Head of Star Pravah and Managing Director of Fox Television Studios. An IIM-Ahmedabad alumnus, he has also held key management roles in BBC and Disney, the statement said.

Dhanlaxmi Bank appoints Ajith Kumar KK as MD & CEO for 3-year tenure

Private sector Dhanlaxmi Bank on Tuesday said it has appointed Ajith Kumar KK as Managing Director (MD) of the bank. He will take charge on June 20, Kerala-based Dhanlaxmi Bank said in a regulatory filing. The board at its meeting held on Tuesday approved the appointment of Ajith Kumar KK as Managing Director & CEO of the bank for a period of three years with effect from June 20, 2024, and on such remuneration as approved by RBI vide letter dated April 18, it said. The bank will seek approval of the shareholders for the said appointment within the prescribed time period in accordance with the applicable provisions of the Companies Act, 2013 and SEBI regulations, it said. He is a seasoned banker with over 36 years of experience with the Federal Bank in various facets of banking including Credit, Human Resources, Business, Branch Banking etc. He is presently the Chief Human Resources Officer at Federal Bank in the cadre of president, it said.

NTT DATA appoints Abhijit Dubey as CEO of its business outside Japan

NTT DATA has already expanded its international footprint to approximately $18 billion and has the world's sixth-largest market share in the IT services industry

Tata Digital unveils leaner A-team under new CEO Naveen Tahilyani

The new streamlined structure makes the firm more nimble and business focused

Wipro appoints Vinay Firake as CEO of APMEA strategic market unit

Firake succeeds Anis Chenchah, who is stepping down to pursue opportunities outside the organisation

Wipro's CEO Srinivas Pallia set to get annual remuneration of about $6 mn

Wipro's new CEO Srinivas Pallia will receive an annual remuneration of up to USD 6 million (about Rs 50 crore), according to a regulatory filing by the Bengaluru-headquartered IT company. Earlier in April, Wipro announced the appointment of Pallia as its new CEO and MD, following the sudden resignation of Thierry Delaporte. Delaporte's annual salary of over Rs 80 crore at Wipro had made headlines last year. According to a Wipro filing related to notice of postal ballot, Pallia's remuneration will range between USD 3.5 million to USD 6 million per annum (at the lower and upper end of basic and target variable pays). "... the consent of the members be and is hereby accorded for the appointment of Srinivas Pallia as the Chief Executive Officer and Managing Director of the company, to hold office for a period of five years with effect from April 7, 2024 to April 6, 2029, on the terms and conditions of appointment, including payment of remuneration with effect from April 7, 2024...," the

BP appoints Kartikeya Dube as India head, to replace Mukundan from July 1

BP on Tuesday announced the appointment of Kartikeya Dube as the new India head, replacing long-time executive Sashi Mukundan who is retiring. In a statement, the company said Dube has been appointed Head of Country (HoC) and senior vice president (gas and low carbon) for India with effect from July 1, 2024. "Sashi Mukundan, who has been with bp for over 42 years, of which 15 were spent leading bp in India, will be retiring and will ensure a seamless transition to Kartikeya," it said. In the last 20 plus years that he has spent with BP, Dube held senior roles in finance, commercial and business transformation in India, Singapore and the UK. Last year, he took the role of vice president, group investor relations in BP's head office in London driving investor engagement. Previously, he was closely involved with setting up the BP joint ventures with Reliance Industries Ltd in India. From 2020 until 2023, he was the CFO for Jio-bp (the mobility joint venture of BP and Reliance). "Now

UBS gets backing for capital plan, Ermotti pay from Norway wealth fund

The move could come at a cost for shareholders, who could see their holdings diluted in a crisis