Air India Top Honchos Likely To Lose Their Jobs All top appointments at Air India, made during the tenure of former aviation minister Mr Praful Patel, are under scrutiny. And the controversial head honchos whom the loss-making national carrier hired by shelling out around Rs 8 crore last financial year may be replaced with new faces soon, according to highly placed sources in the ministry.
Source : 14-02-11 Mid Day Compiled by Amresh Anjan
International Firms Rule IIM-Ahmedabad Final Placement If job offers made by international corporate houses at Indian Institute of Management, Ahmedabad's (IIM-A) final placements are anything to go by, then it seems the global market is on the recovery path. As the final placement process for the 2011 Post Graduate Programme (PGP) students — the first cluster — began last week, they received more number of international offers compared to last year. Official communiqué from the IIMA said that this year international recruiters not only offered jobs to students at their Mumbai office, but also at their Singapore and London offices. Observers said that this is an indication of IIMA students' acceptance in global market with other international reputed B- schools.
Source : 13-02-11 DNA Compiled by Amresh Anjan
Reliance Industries Plans To Hire At Middle Level backgrounds who would eventually be groomed for leadership roles in the company's growing operations. The recruitment drive is being spearheaded by chairman Mr Mukesh Ambani and advised by global management consulting firm McKinsey. The exercise, open to candidates of any nationality, will be monitored by a four-member committee that will mentor selected candidates, two people familiar with the development said.
Source : 18-02-11 moneycontrol.com Compiled by Amresh Anjan
ONGC Board To Appoint Two Directors Oil minister, Mr S Jaipal Reddy has appointed two independent directors on the board of Oil and Natural Gas Corp (ONGC), helping the state-owned firm meet its listing requirement ahead of its Rs 13, 000-crore follow-on public offering next month.
Source : 19-02-11 Business Standard Compiled by Amresh Anjan
Time Inc CEO Ousted Time Inc chairman and chief executive Mr Jack Griffin has been ousted fewer than six months into his job, after his boss decided his leadership style did not match with the company. In an internal memo, Time Warner Inc Chief executive Mr Jeff Bewkes said the publishing unit will be led by an interim management committee until a permanent successor to Mr Griffin is found.
Source : 19-02-11 Hindustan Times Compiled by Amresh Anjan
JLR Intends To Hire 2, 000 In Next Two Years Tatas-owned Jaguar Land Rover announced that it will hire over 2, 000 people within the next two years to increase its headcount by over 11% globally across different positions. The company plans to induct 400 people during this year in UK alone and has already started the process to recruit 280 graduates in different verticals. "Jaguar Land Rover (JLR) currently employs 18, 000 people globally and this will increase to more than 20, 000 by 2012," the company said.
Source : 19-02-11 The Financial Express Compiled by Amresh Anjan
UK Likely To Have Quotas For Female Directors Blue-chip British companies may be given two years to increase the number of female directors or face quotas as part of a government review looking to increase the number of women sitting on company brands. The proposal is one of several measures to being considered by a government panel looking into why there are so few women on the boards of UK-listed companies.
Source : 15-02-11 Hindustan Times Compiled by Amresh Anjan
Exit In DB Realty Mr Shahzad Dalal, vice chairman of IL&FS Investment Managers and a director of DB realty, has resigned from the board of DB Realty.
Source : 14-02-11 Business Standard Compiled by Amresh Anjan
4 MDs Set To Step Down From Sequoia India In a major shakeup at one of the most respected private equity funds in the country — Sequoia Capital India — four managing directors are set to exit and set up their own fund. Private equity industry veterans Mr K P Balaraj, Mr Sumir Chadha, Mr Sandeep Singhal and Mr S K Jain are learnt to be forming a fund that will primarily focus on private investment in public enterprises and late-stage deals. Investment bankers said, Sequoia executives have briefed some investee companies about the exit of the four key personnel. According to private equity industry players, they are understood to be planning to revive WestBridge Capital Partners after their exit from Sequoia.
Source : 15-02-11 Business Standard Compiled by Amresh Anjan
Air India Continues To Hire Foreigners, Indian Pilots' Union Upset One of the two pilots' unions in Air India has accused the airline of intentionally ignoring training of Indian pilots to continue the services of expatriate pilots. The Indian Pilots' Guild (IPG) reported the matter to civil aviation minister, Mr Vayalar Ravi and union labour minister, Mr Mallikarjun Kharge. The union alleged the airline has been portraying a fake shortage of senior commanders to continue the services of expatriate pilots. "We strongly suspect some officials have a vested financial interest in the continued employment of foreign pilots through recruitment agencies based on foreign shores," said Mr Jeetendra Awhad, president, IPG. "The training of many Indian pilots has stopped," he added.
Source : 17-02-11 Hindustan Times Compiled by Amresh Anjan
Facebook Looks At $1 Billion Employee Share Sale: Report Facebook may let its employees sell up to $1 billion of their shares to institutional investors at a price that values the company at about $60 billion, an influential industry blog revealed. Facebook is looking at it after entertaining approaches from a number of major institutions interested in investing in the world's largest social network, the All Things Digital technology blog reported. That valuation would surpass previous measures. Last month, the company founded by Mr Mark Zuckerberg in a Harvard dorm room raised $1.5 billion of financing in a round led by Goldman Sachs, which valued it at $50 billion. Facebook, whose online service counts more than a half a billion users worldwide, may go public around 2012.
Source : 14-02-11 The Financial Express Compiled by Amresh Anjan
Internships for MBAs in Haryana The Haryana School Education Department has decided to provide an internship opportunity to post-graduates in fields of MBA, MSW, mass communication, journalism and B.Tech, who are studying in the universities or institutes affiliated to the universities in the state. Haryana education minister, Ms Geeta Bhukal said that graduates or post graduates in these disciplines completing their course by the academic session ending in April, 2011 would be considered as interns for projects as quality initiative coordinators, community mobilisers and, information communication technology (ICT) coordinators. The interns would be paid a monthly stipend of Rs 15,000 for a period which may be up to one year in addition to a laptop with internet facility. The applicants for internship are expected to have knowledge of the background of Rashtriya Madhyamik Shiksha Abhiyan, Sarv Shiksha Abhiyan and Right to Education Act and ICT in schools. They are also expected to be aware of the various quality initiatives being taken for the development of school education, integration of ICT in school system.
Source : 16-02-11 The Financial Express Compiled by Amresh Anjan
Mr Kapil Kapoor Is Timex Group Chairman Timex Group India has named Mr Kapil Kapoor as the chairman. Mr Kapoor has been holding the position of the Vice Chairman of the board for Timex India since January 2009 after ruining the operations of Timex India as its MD between 2000 and 2008. He is credited with leading the turnaround of the Indian operations.
Source : 18-02-11 The Financial Express Compiled by Amresh Anjan
Mahindra Satyam Gets New CFO Mahindra Satyam, a leading global consulting and IT services provider, announced the appointment of Mr Vasant Krishnan, as its new Chief Financial Officer effective March 1. Krishnan is a Chartered Accountant with over 25-years experience and presently with Mahindra & Mahindra Limited as Senior Vice-President. He will come on board at Mahindra Satyam with effect from March 1 in place of Mr S Durgashankar who will relocate to M&M, according to a company release.
Source : 14-02-11 indiainfoline.com Compiled by Amresh Anjan
Mr Chandrakumar Appointed As AI Express COO After an unpleasant experience with an outsider, Air India has appointed Mr S Chandrakumar, an old timer, as the chief operating officer of Air India Express, the low-cost international subsidiary of the government carrier. Mr Pawan Arora, who was hired from low-cost carrier IndiGo at an annual package of Rs 1.2 crore, was asked to leave last week. Mr Chandrakumar has been with the airline for 30 years and worked in several departments. Before being deputed to AI Express as the corporate communications head, he was the general manager of corporate communications in Delhi.
Source : 16-02-11 Business Standard Compiled by Amresh Anjan
IDFC Appoints Mr Sunil Kakar As Group CFO Infrastructure finance firm IDFC named Mr Sunil Kakar as Group Chief Financial Officer (CFO), succeeding L K Narayan who has moved on to the not-for-profit sector. The appointment will be effective immediately, according to a company release. Mr Kakar brings with him over 25 years of experience encompassing various financial roles and a career that kick-started with Bank of America. Before joining IDFC, Mr Kakar dedicated 10 years to MaxNew York Life Insurance Company as CFO, India.
Source : 14-02-11 oneindia.in Compiled by Amresh Anjan
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