Ex-Tata Capital CEO joins Stanchart

Kusal Roy has been appointed as the new Head of Retail Banking at Standard Chartered India arm. He will report to Zarin Daruwala, India CEO and Sebastian Arcuri, Regional Head, Retail Banking, ASEAN & South Asia. With a career span of over 25 years, Kusal’s expertise across retail banking, payments industry and NBFC sectors is expected to provide strategic leadership as a part of Standard Chartered’s country management team. Before joining Stanchart, he was the Managing Director and Chief Executive Officer at Tata Capital Financial Services Ltd. Besides holding pivotal roles in ICICI Bank, Barclays Bank and Citibank India, Kusal is an Alumnus of the Indian Institute of Technology (IIT) Kharagpur and Indian Institute of Management (IIM) Ahmedabad.

Puneet Gupta appointed as NetApp-VP Sales

Puneet Gupta is the new Vice President for Sales, India and SAARC at NetApp, the cloud data services and data management company, and will succeed Anil Valluri. Based out of New Delhi, he will report to Senior Vice President and General Manager for Asia- Pacific and expected to lead focus on customer and business growth with strengthening the company’s foothold nationwide. His responsibilities include liaising with partners to help successful customer engagement. Prior to his new position, he was Senior Vice President for Tech Mahindra, delivering high double-digit revenue growth and profit margins. His previous stint was as Managing Director with Cisco India in its enterprise and public sector businesses. Puneet brings in around three decades of experience in business management, sales, and channels to his current portfolio. An Alumni of the Indian Institute of Management - Bangalore (IIM-B), he is a mechanical engineer from the Indian Institute of Technology (Banaras Hindu University), Varanasi.

Mukesh Ambani Displays Business GRIT

The astuteness of businessman billionaire Mukesh Ambani surfaced once again as he got onto a shopping spree staking two global deals in quick succession. Ambani’s strategic timing of the deals with Facebook and California-based, private equity firm Silver Lake, is seen as a ploy to bail out the company in building a profitable business portfolio during and post the Coronavirus crisis. Agreeing to stake sale RIL’s digital arm - Reliance Jio’s 9.99% to Mark Zuckerberg’s Facebook for Rs.43,574 crore ($5.7 billion), Mukesh Ambani announced a second deal with California-based private equity firm Silver Lake which will acquire little over 1% in Jio for $748 million. The recent deals have once again showcased Ambani’s shrewd business acumen that leverages the current demand for digital platforms by giving a shot in the arm for RIL’s Jio platform as against its oil business, a sector that continues to witnesses an exponential global decline due to the Coronavirus outbreak. While the Facebook-Jio partnership will rake in the moolah into Ambani’s coffers, it also promises to cash onto smaller deals that will help RIL to expand its services by building a stronghold across the Indian subcontinent via digitisation of the potential 60 million micro, small and medium businesses; 30 million small merchants; 120 million farmers and many enterprises in the informal sector. The Jio-WhatsApp route is expected to expand the reach of JioMart in supporting smaller businesses in partnerships, fulfilling Jio’s aim of digitally connecting 1.3 billion Indians. On the anvil is RIL’s proposal to hive off its oil-to-chemicals (O2C) business into a separate division, enabling 20% stake sale in the unit to Aramco, the Saudi national oil company. RIL’s Aramco board approval is pending by the National Company Law Tribunal. While Ambani, pledged to forego his salary during the Coronavirus pandemic, the recent deals, and proposals reinforces his promise to cut Reliance’s net debt to zero by 2021.

Sudhanshu Vats roped in as Essel CEO and MD

Sudhanshu Vats is the new Chief Executive Officer (CEO) and Managing Director (MD) at Essel Propack, manufacturer of laminated plastic tubes and packaging used in oral care products, food and pharmaceuticals. The company Board has also appointed Vats, as Additional Director in the global tube-packaging company backed by Subhash Chandra. Vats, an industry veteran and FMCG stalwart has had close to 28 years of expertise across media and the FMCG sectors that includes Viacom18 and Unilever. As former MD and Group CEO of Viacom18, he scaled up the company’s business from six to over 54 television channels across 80 plus countries, while adding three more lines of businesses and growing the company’s revenue by over four four-folds. Vats' tenure of over 20 years at Unilever, shaped up equity for household brands such as Vim, Wheel, Surf, Rin, Lifebuoy, Lux and Lipton. He was engaged at Unilever across various sales and marketing and general management roles across the company’s product stables. He quit Unilever as the head of Unilever’s laundry business in South Asia and as head of the global Radiant brand. He is also the Chairman of the National Media and Entertainment Committee of CII, Director at BARC, as Vice President of IBF (Indian Broadcasting Foundation) and attached to several NGOs.

Udit Malhotra to head marketing at Morris Garages

Morris Garages (MG) India appoints Udit Malhotra as Head of Marketing, India as he takes over the baton from Pallavi Singh who has since moved to BMW India. Malhotra has been deputing duties as the acting head of marketing at MG for the past 10 months, before stepping into his current permanent position. He has previously held pivotal positions for over five years with Genesis BM, with a brief stint with DELL and also Infotel Solutions for over three years.

Biocon Chief is top global biopharma entrepreneur

Kiran Mazumdar-Shaw, Executive Chairperson, Biocon Ltd has been honoured as one of the world’s top 20 inspirational leaders in the field of biopharmaceuticals as per ‘The Medicine Maker Power List 2020’. The publication that focuses on new drug development and people behind it, has recognised Mazumdar-Shaw’s contribution to the world of medicine as an entrepreneur and an innovative business leader. Mazumdar-Shaw joins the publication’s 2020 Power List that celebrates 60 great minds who have ushered in innovations across advanced medicine, small molecules, and biopharmaceuticals. Mazumdar-Shaw has been a regular feature on the Medicine Maker Power List for the past six consecutive years since 2015. The publication has been showcasing professionals who drive the industry forward and save lives by developing new medicines and also lending support by bringing potential Covid-19 vaccines and treatments to the market. “It’s indeed an honour to be featured on the "Medicine Maker Power List" alongside G V Prasad and other remarkable and inspirational individuals whose work has positively influenced the fields of small molecules, biopharmaceuticals and advanced medicine,” she said.

David Li is CEO, Huawei India

David Li takes over as Chief Executive Officer (CEO) at Huawei India. He succeeds Jay Chen who has been promoted to a leadership role in the Asia Pacific region. Previous to his new India stint, Li served as CEO of Huawei Cambodia before returning to India to take on his new role. He was also responsible for leading the Network Solutions Sales team as a Director for the South-East Asia Region. David, who had joined the company in 2002, has several years of experience working across the Indian market. David will hold reins of the company in his current responsibility of overseeing almost all the aspects of Huawei Telecommunications and its strategy for India in both directions and operations nationwide. Li will ensure Huawei’s commitment as a strategic and reliable ICT partner in accelerating India’s overall vision for digitisation. Huawei leadership change has come at a time as India tightens rules around foreign direct investment (FDI) from some of its border countries, believed to be aimed at placing restrictions on investment from China into India’s business and telecom territory. Huawei has recently been granted permission to participate in the commercial deployment of 5G in India. Consequently, Huawei has forged partnerships with Indian telecom giants Airtel and Vodafone-Idea.

IVCA Appoints Renuka Ramnath As Chairperson

Renuka Ramnath, the founder of Multiples Alternate Assets Management, becomes the first woman to be appointed as the Chairperson of Indian Private Equity & Venture Capital Association (IVCA). Prior to her new role, Ramnath was the MD and CEO of ICICI Venture, a specialist alternative assets manager. She went on to make it one of India’s leading PE funds. She is credited with turning it into one of India’s leading PE funds. Later, she found her investment firm, Multiples in 2009. “Multiples is a culmination of my beliefs, experiences and relationships coming together to channelise high-quality, long-term capital towards the growth of the Indian economy,” she said.

Rishad Premji invites social distancing ideas

Rishad Premji, Chairman Wipro, has invited ideas for social distancing at the workplace. Following the home ministry’s advisory to companies in the IT/ITeS sector to operate with 50% of their workforce from their offices, the need for strict guidelines for social distancing becomes mandatory. As IT professionals go back to work after a prolonged lockdown, Rishad Premji has resorted to Twitter to engage and evoke responses and ideas on the best ways of social distancing practises at the workplace. He tweeted, “Preparing for the new reality of distancing @Wipro. Would encourage all working spaces no matter how big or small to plan ahead for this so we don’t scramble when things do partially open up. Also, do share simple innovative ideas!” He has also shared some photos of common areas inside the Wipro campus to refer to examples of how social distancing needs to be followed.

The company has resumed its operations in Kochi with initial 120 people returning to work. Rishad tweeted saying, “Working in our new normal with social distancing guidelines putting employee safety first. Thank you to the team @Wipro for doing a great job in readying us for this new start.” While Wipro has already pledged to mobilise its vast resources to contribute to the pandemic effort, Rishad said that one effort by the Wipro Foundation has been to arrange supply of food for over 20 lakh people amid the rampant Corona outbreak. Meanwhile, Wipro has signed an MoU with the Maharashtra Government to convert one of its Information Technology (IT) campus at Hinjewadi, Pune into a 450-bed designated Covid-19 hospital by May 30.

Tai Nizawa is new MD, Konica Minolta India

Konica Minolta India appoints Tai Nizawa as its new Managing Director (MD) as the company brings Nizawa to India from his previous role as MD at Konica Minolta Vietnam. Based out of Minolta’s Gurgaon-Cybercity office, Nizawa as the MD at Konica Minolta Business Solutions Pvt Ltd will be responsible for forging a strategic roadmap by leading the company’s daily operations for the Indian business arm. He has been associated with Konica Minolta since 1987 and is an industry stalwart with over 30 years of experience in the printing industry. His India move is expected to further strengthen the leadership ranks of the company while also utilising Nizawa’s vast experience across the company’s 21 branch offices and 700+ employees in India. Nizawa has also worked with the brand in Osaka, Germany, New Zealand, Tokyo, Netherlands, UAE, and the US. Throughout his career, he has held several pivotal positions and has been instrumental in devising strategies that have led to the growth of Konica Minolta. Konica Minolta India is the Indian arm and a 100% subsidiary of Konica Minolta Business Technologies, a Japanese MNC with a market legacy of more than 146 years and a worldwide presence spanning over 150 international markets.

Ajay Sharma joins Colliers International

Colliers International appoints Ajay Sharma Ayyagari as the Managing Director of its valuations business in India. A highly regarded real estate professional, Ajay brings in his extensive experience of undertaking valuations across India, Sri Lanka and the Maldives. Sharma’s induction reinforces Colliers’ commitment to enhancing their client services and senior leadership team across India. Prior to Colliers, Ajay served as the Director Financial Advisory (Valuations) at Deloitte. He is a registered architect with COA, Member of Royal Institute of Chartered Surveyors (MRICS) and Fellow of Institute of Valuers (FIV).

New IBM CEO base salary at $1.5 million

The base salary structure of Arvind Krishna the newly appointed CEO of IBM, has been pegged at $1.5 million w.e.f. from April 6, 2020, as he took charge of his office. His 2020 annual incentive target has been set at $3 million, prorated for the April to December period, as per filings with the U.S. SEC. The board also approved a 2020 long-term incentive award of $13.8 million for Krishna, which comprises of 35% of restricted stock units (RSUs) and 65% of 2020-2022 performance share units (PSUs). These RSUs and PSUs will be granted on June 8, 2020. Krishna took over the baton in April from former CEO Ginni Rometty.

Polaris promotes Lalit Sharma

Lalit Sharma has been promoted as the new County Manager at Polaris India. He fills in the gap left by Pankaj Dubey, who held the fort for the past 10 years and has since moved on to pursue other career opportunities. Prior to his new position, Sharma was at the helm of affairs primarily heading Product, Parts Garments & Accessories.

Sharma joined Polaris India in July 2011 and his expertise as an experienced product management professional brings in 16 years of his industry experience to Polaris. Sharma will also have additional responsibility for running the company’s commercial and operational activities in his new capacity as the Country Manager. Sharma brings in vital experience from his days with the auto sector particularly, key competencies in cross-functional team leadership, aftersales and supply chain management. The Powersports player hopes to leverage Sharma’s core competencies and work towards its business goals in the current economic downtrend due to the Coronavirus outbreak.

Deloitte CTO’s ‘office truths’

Nathan S V, Partner and Chief Talent Officer at Deloitte India has asserted the enhanced need for soft skills that people should be ‘aware of’ and ‘focus on’ while working from home. He has been posting ‘his’ office truths on social media as people ‘stay at home’ during the Coronavirus lockdown phase. Under hashtag ‘office truths’, he tweeted that “Words that instil hope in your team in the toughest of times will be remembered long after the achievement against odds. Words matter.” His other ‘truths’ include how manners matter, especially at a time when things can function slower and communication could be an issue, by saying a simple ‘thank you’ can really help those on the receiving end.” He has also expressed caution as offices gradually resume services. He reinforced that the decision to work from office has to be done in consultations with employees and on their comfort levels, also ascertain the cost to the company for those returning to work. “We will be very careful about coming back to work. One bad incident can throw us back by 100 days,” said Nathan.