It is not just the youngsters will look for inspiration from the former cricket Test captain Mahendra Singh Dhoni’s, but even the Maruti Suzuki as they launched ‘MS Dhoni inspired’ special edition of the Alto small cars. The largest carmakers in the country, Maruti Suziki’s special edition of Alto800 and AltoK10 cars are part of the carmaker’s association with the upcoming movie ‘M S Dhoni – The Untold Story’ which is based on the life of cricketer. These special edition cars were up for grab at Maruti Suzuki dealerships from the first week of October this year. Alto’s association with the movie is based on the cricketer’s massive popularity which harmonises with the credibility of the car in India, Maruti Suzuki India Executive Director (Marketing and Sales) R S Kalsi said. Alto is the only car brand to cumulatively sell 30 lakh units. As a part of the association, Maruti Suzuki is running a series of customer engagement activities on social media. The special edition Alto has Dhoni inspired sporty seat covers with number 7, MS Dhoni signature decal and body graphics, high end music system, reverse parking sensors, among others, according to the company release.
Madhusudan Sahoo was appointed as chairperson of Insolvency and Bankruptcy Board of India. Sahoo is presently member of Competition Commission of India. The Appointments Committee of Cabinet has approved his appointment to the post for five years, an order issued by Department of Personnel and Training said. The board is mandated to regulate functioning of Insolvency Professionals, Insolvency Professional Agencies and Information Utilities under the Insolvency and Bankruptcy Code, 2016. As per the code, insolvency resolutions of companies and individuals will be completed within 180 days. Insolvency is a situation where an individual or a company is unable to repay outstanding debt.
Mohit Kampani, joined Aditya Birla Retail (ABRL), as chief executive officer (CEO). He will report to the group’s director for retail and apparel business, Pranab Barua. The former managing director of Spencer’s Retail, Kampani’s predecessor, Vishak Kumar, is becoming CEO for Aditya Birla Fashion and Retail, the entity that emerged after consolidation of branded apparel businesses of the Aditya Birla Group comprising of Madura Fashion, Pantaloons Fashion & Retail and Madura Fashion & Lifestyle. The changes were announced internally in an email to employees recently. Kampani’s first major goal will be to turn more profitable and organise the business amid increased competition from ecommerce companies. ABRL reported revenue of Rs. 2,948 crore in 2014-15, a net loss of Rs. 571 crore and total debt of Rs. 5,232 crore. It is reducing losses at the store level.
Jayaraj Shanmugam has been appointed as Chief Commercial Officer (CCO) of Jet Airways. The 53-year-old Singapore national joined the airline last year and served as Senior Vice President of Products & Services. He would be responsible for leading commercial teams to maximise revenue streams and use its market reach, people capabilities and brand appeal to accelerate the airline’s reputation for service excellence and efficiency, the Jet Airways release said. His responsibilities will include product enhancement, guest services, passenger and cargo sales, marketing and corporate communications. He will oversee other critical functions such as airport and in-flight services, catering, revenue management, cabin crew and e-commerce, and would be based in Mumbai. The airlines chief, Naresh Goyal said Shanmugam has been a key member of the executive management committee and brings a wealth of experience of global best practices and service orientation. The airline has a fleet of 117 aircraft and operates flights to 67 destinations.
Tata Sky, a direct-to-home (DTH) player, are up against everyone and their Rs. 35-40 crore to spend on marketing alone, says many things. And to run the show who could be the better person, than the B-B of Bollywood star Amitabh Bachchan. In their venture to reach out to audience outside urban, the DTH are set to reach out to more subscribers outside metros -including cable, free-to-air (FTA) and the non-TV users -with its offerings. The new tagline of the company is `Tata Sky Laga Dala to Family Jingalala’. Among the phase III and phase IV cities of government-mandated digitisation programme (DAS), the company is eyeing major subscriber additions as it claims to offer better service and quality of channels. The DTH platform currently offers 418 channels in standard definition, 77 in high definition (HD), apart from 15 interactive service, 6 SD and 6 HD movie showcase platforms.
Acharya Balkrishna has entered the elite group, India’s richest 100 club with $2.5 billion net-worth owing to his 97 percent stake in Patanjali Ayurved Ltd, while e-tailer Flipkart’s co-founders Sachin Bansal and Binny Bansal made exit. Baba Ramdev’s close associate, Balkrishna made his debut on the annual Forbes list of India’s 100 Richest People at 48th position. The childhood friend of politically well-connected yoga guru Baba Ramdev, makes debut, thanks to his holding in fast-growing consumer goods outfit Patanjali Ayurved, which they co-founded in 2006, according to Forbes statement while releasing its annual India rich list. With revenue of $780 million, Patanjali sells everything from herbal toothpastes and cosmetics to noodles and jams. Though Ramdev holds no shares in Patanjali, he is the company’s de facto brand ambassador, while Balkrishna runs operations. Balkrishna is among the six newcomers on the list, topped for the ninth consecutive year by industrialist Mukesh Ambani, while 13 people failed to make the cut this year. Those moving out of the list included Flipkart’s co-founders Sachin Bansal and Binny Bansal. The Bansals were ranked 86th last year with a networth of $1.3 billion.
Longtime CEO, Ajay Kaul resigned from the company, according to sources in the Jubilant FoodWorks Ltd. Kaul, who was with the fast food chain operator for 11 years, will continue in his current role till March 31, 2017, Jubilant FoodWorks said in an exchange filing. The search for a successor has been initiated, the company added. “On behalf of Jubilant FoodWorks, we would like to thank Ajay for his dedicated efforts and significant contribution through his tenure spanning over 11 years with the company,” said Shyam S Bhartia, Chairman and Director, and Hari S Bhartia, Co-Chairman and Director, Jubilant FoodWorks. Dwindling earnings, narrowing margins and increasing competition have weighed on the company’s stock, which has fallen 48 percent from its all time high of Rs. 1,931. “I would like to thank the Board for giving me the opportunity to lead Jubilant FoodWorks. While I feel very sad to announce this decision, I am extremely happy to say that Jubilant FoodWorks (and its brands Domino’s Pizza and Dunkin’ Donuts) is market leader in several ways, said Ajay Kaul, outgoing CEO, Jubilant FoodWorks.
Godfrey Phillips India have appointment, Ruchir Kumar Modi, son of former IPL Chairman Lalit Modi as nonexecutive director of the company. The move comes six months after Ruchir was appointed as an additional director of the company. In another move, the company approved reappointment of Bina Modi on the board. Bina, who was retiring by rotation, is the wife of Krishan Kumar Modi, head of K K Modi Group. Godfrey Phillips India is a flagship company of the K K Modi Group. Shares of Godfrey Phillips were trading 0.78 per cent down at Rs. 1,285.60 on BSE.
Prineet Grewal was crowned the winner of the beauty pageant Mrs India Earth 2016, which celebrates the spirit of womanhood and a platform to married women to exhibit their beauty. Prineet, the 29-year-old was crowned in the presence of elite members of the fashion industry. The first and second runners-up were Paris Keswani and Roshini Hassan, respectively. The beauty pageant follows a motto of ‘Beauty with Cause’. The event gave every contestant selected environmental tasks, and over 15,000 saplings were planted in the country and abroad this year. This annual event is to celebrate women who personify beauty, talent, intelligence and compassion. The Indian woman in her lifetime assumes numerous significant roles that make her crucial. “When I hear the word Queen, the thing that comes to my mind is a woman who is not afraid to fail, one who wears her scars like her medals and one who looks at every failure as a stepping stone to glory,” said Prineet about her approach to life in general. Prineet took to the social media to thank people for their good wishes. “Overwhelmed and humbled ..!!! thank you so much for your good wishes folks.. They give me so much strength....!!!!!,” she wrote on her facebook page.
The association with the former Indian Test skipper MS Dhoni is taking the beating as Ravindra Jadeja cuts off his connection with Rhiti Sports, the sports management company of Dhoni’s friend and business associate Arun Pandey. The all-rounder Jadeja signed a three-year contract with Baseline Ventures who also manage India's latest badminton sensation and Olympic silver medalist PV Sindhu. This comes after Suresh Raina moved out of Rhiti to another management firm to craft his own identity. Dhoni is still the one-day captain but his cricketing stocks have gone down since he quit Test cricket and has been struggling to regain his form and swagger of old. This is Baseline's first foray in Indian cricket and they hope to make the most of it. Jadeja signed a three-year contract with sports marketing firm, and will manage endorsements, brand associations, corporate profile, merchandise and other business and commercial interests of the all-rounder. Rhiti Sports, run by Arun Pandy, continues to manage Dhoni and other cricketers such as Mohit Sharma, KL Rahul, Bhuvaneshwar Kumar and South African Francois du Plessis.
With the next generation not willing to take the baton, Bisleri promoter Ramesh Chauhan is to get a professional chief executive from outside, a first in the company’s 67-year history. His daughter Jayanti will reportedly remain a director on the board. Chauhan, known for stealing the thunder from cola makers in the 1980s, is finally calling it a day and has mandated consultant EY to help restructure the company. Bisleri, which operates as independent four zonal entities, will now be one centralised company headed by a professional CEO. His only daughter, Jayanti, with interests in fashion and travel, is not keen on taking any operational roles although she had returned from a sabbatical in 2012. The 31-year-old will remain as a director on the board while her father will pursue matters related to water conservation and corporate social responsibility. “Bisleri, as an organisation, should be ready to capture the growth offered in the bottled water and soft drinks market,” said Chauhan. He led the company for five decades when he was consistently wooed by investment bankers to sell the brand. Parle, a company founded by the Chauhan family in 1949, bought the bottled water brand from Italian entrepreneur Signor Felice Bisleri in 1969. The packaged water business, presently controlled by Chauhan, is the market leader with more than 26 precent share, competing with PepsiCo’s Aquafina and Coca-Cola’s Kinley. The company is the third largest soft beverage seller, behind the two cola giants, and has consistently increased its share from 9.6 percent in 2012 to 11.5 percent now, according to lates data.
In an unprecedented move, the Centre has sacked Sushil Muhnot, chairman and managing director of Punebased Bank of Maharashtra, four days short of his scheduled retirement, and appointed Ravindra Marathe as the new chief. Muhnot was appointed as the chairman of the bank in November 2013, and was scheduled to retire on September 30. “In exercise of the powers conferred by sub-clause (4) of clause 8 of the Nationalised Banks (Management and Miscellaneous Provisions) scheme 1970/1980, the Central government hereby removes Shri Sushil Muhnot from the post of chairman and managing director of Bank of Maharashtra with immediate effect,” the government order said. However, the government did not cite any reason for its action. Earlier this year, the finance ministry had reportedly served a show-cause notice to Muhnot asking him to explain why he should not be terminated from service for allegedly occupying two houses. Marathe was an executive director with Bank of India. He is scheduled to retire on November 30, 2018.
By Joe Williams
