Roshni Nadar is India's richest woman
Roshni Nadar Malhotra, CEO of HCL Corporation and Vice Chairperson of HCL Technologies becomes the richest Indian businesswoman as per the'Kotak Wealth Hurun – Leading Wealthy Women 2020' list, with a total wealth component of INR 54,850 crore. Featured on the'Forbes' 100 Richest Indian Women of 2020,' she also shares space as one of the'Forbes' 100 Most Powerful Women in the World' with Nirmala Sitharam, Minister of Finance and Corporate Affair, India; and Kiran Mazumdar-Shaw, founder and MD, Biocon, who comes close second with an estimated wealth of INR 36,600 crore. A board member with Infosys, Shaw is the first Indian woman business leader to have signed the Giving Pledge, a commitment by the world's wealthiest individuals and families to dedicate the majority of their wealth to giving back. Others on the'Kotak Wealth Hurun – Leading Wealthy Women List 2020' with their respective wealth estimates include Chairperson of USV - Leena Gandhi Tewari (INR 21,340 crore), Divi's Laboratories' Director (Commercial) - Nilima Motaparti (INR 18,620 crore), Zoho co-founder - Radha Vembu (INR 11,590 crore), CEO of cloud-networking company Arista Networks' - Jayshree Ullal (INR 10,220 crore), Managing Director of Hero FinCorp - Renu Munjal (INR 8,690 crore), MD&CEO of Alembic Pharmaceuticals' - Malika Chirayu Amin (INR 7,570 crore), former chairperson of Thermax - Anu Aga and daughter Meher Pudumjee with a total wealth of INR 5,850 crore. CEO of Nykaa, the online beauty store's, Falguni Nayar & family are in the 10th position with an estimated wealth of INR 5,410 crore.
Devita Saraf, only woman in the under 40 rich List
Devita Rajkumar Saraf, Chairperson and CEO - Vu Technologies becomes the only woman to be listed on the'IIFL Wealth Hurun India 40 & Under SelfMade Rich List 2020'. At 39 years, she ranks 16th on the list with a wealth of INR 1200 crore. She founded the television manufacturing company in 2006 and it has taken her 15 years to hit the INR 1000 crore plus wealth camp. The list consists of self-made entrepreneurs who are below the age of 40 and have a wealth of INR 1,000 crore or more. The total valuation of all the entrepreneurs mentioned in the list is INR 44,900 crore which is a 59% per cent increase from last year. Devita is a model-cum CEO and has also been recognised in the past under Fortune India's Top 50 Most Powerful Women in India (2019), GQ's 50 Most Influential Indians (2019), and India Today's 8 Most Powerful Changemakers In The Business World (2018). In an interview with yourstory.com, Devita had said, "Even coming on a valuation list, I'm still very cautious in the way I spend and try not to waste money. So, it's pretty much even keel for me in terms of looking at a business. If you have a low, whether it's a product that's not selling, a distribution that's falling apart, your cash flow drying up or you have a team member leave, you have to find a way to deal with it."
Malavika Hegde is CEO of Coffee Day Enterprises Ltd
Coffee Day Enterprises Ltd (CDEL), the owner of the flagship Cafe Coffee Day chain (CCD), has appointed Malavika Hegde, as its Chief Executive Officer (CEO). The low-profiled spouse of former founder and chairman V G Siddhartha (VGS), Malavika takes helm a little over a year after the reported demise of her husband the homegrown coffee baron, VGS. Malavika served as a non-executive director before her recent appointment as the CEO and will take reins at a time when the conglomerate is facing a financial crisis. An engineering graduate from the University of Bengaluru, she will be in charge for at least five years and operate from the company's Bengaluru headquarter. Post the demise of her husband, Malavika managed to reduce his debt even during the lockdown. She had said, "Somewhere along the way in the last 12 months, my mission has been to uphold the proud legacy of Siddhartha. He has left me a job to do, to settle every lender to the best of my ability, to grow the business and to enthuse and foster our employees." The company's board has also approved the appointment of three additional non-executive independent directors: C H Vasudhara Devi, Giri Devanur and Mohan Raghavendra Kondi with effect from December 31, 2020 for five years, subject to shareholder approvals. The 51-year-old Malavika is the younger daughter of S M Krishna, former Central Minister of External Affairs and former Karnataka Chief Minister.
WHO Foundation appoints Anil Soni as its first CEO
Anil Soni has been appointed as the first Chief Executive Officer (CEO) of the WHO Foundation and will assume office with effect from January 1, 2021. Soni joins in the list of Indian-origin health experts for top jobs as proposed by U.S. President-elect Joe Biden's Covid task force. In his new role, Soni is expected to accelerate the Foundation's "work to invest in innovative, evidence-based initiatives that support WHO in delivering on its mission to ensure healthy lives and promote well-being for all," said the Geneva-based independent grant-making agency launched in May 2020. In previous position, Soni headed the Global Infectious Diseases unit at Viatris, a global healthcare company. Soni's other engagements include his role as an advisor to the Executive Director with the Global Fund to Fight AIDS, Tuberculosis and Malaria and as the Founding Executive Director of Friends of the Global Fight from 2004-2005. He was the CEO of the Clinton Health Access Initiative from 2005-2010, and as senior advisor to the Bill & Melinda Gates Foundation and the MDG (millennium development goals) Health Alliance. An alumnus of McKinsey and Harvard College, Soni also serves on the board of The Marshall Project, a nonprofit organisation that helps sustain a sense of national urgency about the U.S. criminal justice system.
Sandeep Kataria elevated as global CEO, Bata
Bata Shoe Organisation has promoted Sandeep Kataria, CEO-India to take charge as its global CEO. Kataria becomes the first Indian to be helming the top role and takes over from Alexis Nasard who has stepped down having served the position for almost five years. Under Kataria's leadership, Bata India doubled its profits and spearheaded some of the most original campaigns, such as'Surprisingly Bata', that revamped Bata's image as a contemporary brand targeting younger consumers. Kataria joined Bata India as CEO in 2017, with prior extensive leadership experiences working across diverse geographies, with a good understanding of its consumers. He brings in 24 years of experience working at Unilever, also prior stints with Vodafone (India and Europe), and Yum Brands before joining Bata in 2017.
Uday Shankar is President-Elect, FICCI
FICCI (Federation of Indian Chambers of Commerce and Industry) has chosen its new President - Elect by appointing Uday Shankar the outgoing President of the Walt Disney Company (Asia Pacific) and the Chairman of Star and Disney India. Shankar thus becomes India's first-ever media and entertainment executive to lead a national industry chamber and one of the oldest industry body. Shankar will succeed Sangita Reddy, President, FICCI, and Joint Managing Director at Apollo Hospitals Group in the upcoming FICCI's 93rd AGM in December 2020. An MPhil in Economic History from the Jawaharlal Nehru University, he has been at the forefront of landmark initiatives in television broadcasting, such as self-regulation of content and digitisation of the broadcasting sector. In previous stints, he was also the President of the Indian Broadcasting Foundation (IBF) and the Chairman of FICCI's Media and Entertainment Committee. A trained journalist, Shankar pioneered the development of the television news environment in India. Prior to Star India, he was the CEO and Editor of Star News, the nation's first 24/7 news channel. He was Editor and News Director at TV Today Group, where he steered the launch of Aaj Tak in 2000 and Headlines Today in 2003.
Shantanu Narayen
Anand MahindraMahindra and Adobe's Narayen bag USISPF Leadership award
Anand Mahindra (Chairman, Mahindra Group) and Shantanu Narayen (Chairman and CEO, Adobe) have been conferred with the 2020 Leadership Award for promoting U.S.-India bilateral ties. The week long virtual programme included a range of strategic discussions between U.S.-India Strategic Partnership Forum (USISPF)'s board members comprising of 21 Fortune 500 CEOs and senior government officials from both countries. The summit highlighted areas of bilateral cooperation in trade and investment relations; strategic energy ties; India's position in global supply chains, collaboration in fintech, healthcare, and technology; building a fair tax regime to attract FDIs, among others. The 2020 USISPF Leadership Awards is given to two business leaders displaying leadership and ambition in strengthening the U.S. India bilateral economic partnership, especially when the global economy is faced with uncertainties and businesses are forced to move away from their core capabilities. The USISPF is a non-profit organisation, with the primary objective of strengthening the U.S.-India bilateral and strategic partnership.
Former US Ambassador to India joins Mastercard
Mastercard has roped in Richard Verma as Executive Vice President (EVP), Global Public Policy and Regulatory Affairs and will report directly to Tim Murphy, General Counsel, at Mastercard. Verma brings in over 25 years of international experience across senior levels in portfolios related to business, law, diplomacy, and the military. In his new role with Mastercard, he is expected to oversee the company's worldwide public policy, regulatory affairs and litigation teams. His previous stint was as Vice Chair and Partner with the Asia Group. He also held position as the former U.S. Ambassador to India, from 2014 to 2017. He was Assistant Secretary of State for Legislative Affairs, leading the Department's efforts on Capitol Hill, and served as the former National Security Advisor to the Senate Majority Leader for several years. A veteran of the U.S. Air Force, he is a recipient of multiple awards and decorations, including the State Department's Distinguished Service Award. He is currently a Senior Fellow at Harvard University's Belfer Center for Science and International Affairs and serves on several boards and commissions, including the National Endowment for Democracy and Lehigh University. He holds degrees from Georgetown University (Ph.D.), the Georgetown University Law Center (LLM), American University's Washington College of Law (JD), and Lehigh University (BS).
Porsche India appoints Manolito Vujicic as Brand Head
Manolito Vujicic, brand President of Porsche China, will helm affairs for the company's India operations effective from February 2021. As Brand Head of the premium luxury carmaker's India outfit - Porsche India, Manolito will report to Gurpatab Boparai, Managing Director of Skoda Auto India Private Ltd. (SAIPL). He steps into Pavan Shetty's shoes who has since relinquished his role having served Porsche's India operations for five months. Manolito has been associated with Porsche since 2004, operating with the China arm of Porsche Holding Salzburg, the largest and most successful automotive distributor in Europe. Prior to Porsche, Manolito has had stints as brand manager for Volkswagen and Audi working in Belgrade and Serbia. After completing his management studies at Vienna University and the University of East London, he began his career as a marketing manager with TWT Gmbh in Stuttgart, Germany.
Paytm founder offers scholarship for Indian students at Harvard
Vijay Shekhar Sharma, Founder, Paytm, will offer a scholarship to two Indian students every year for pursuing research at the Lakshmi Mittal and Family South Asia Institute (LMSAI) at Harvard University. This fund is expected to provide leading South Asian scholars with new opportunities in their research work at Harvard, benefitting them and their home institutions as well as the Harvard community. "I believe that good education can change an individual's life in the most profound ways. My father, who was a teacher, believed that the world can be positively changed through education. His teachings are my inspiration to make this contribution to Harvard University," said Sharma. Each year, the Mittal Institute supports research accomplishments of numerous scholars from South Asia, providing them with opportunities to interact with Harvard's faculty, students, and the larger community for knowledge-sharing and the potential formation of new research partnerships.
Vodafone Idea faces top deck exodus
Amit Pradhan, Chief Technology Security Officer (CTSO) and chief privacy officer at Vodafone Idea (Vi) has put in his papers after a five year Stint–joining as a director with Mandiant Consulting, a top U.S. firm into cyber investigation and forensics and incident response. Based out of Singapore, Pradhan will look after India and the neighbouring countries. He has more than two decades of experience across telecom, pharmaceuticals, banking, ITES and Consulting. He served Vodafone Idea as the SVP Technology Security and as CTSO & Chief Privacy Officer at Cipla. In yet another move, Kavita Nair, chief digital transformation and brand officer at Vodafone Idea has also called it quits. Nair was instrumental in the recent rebranding task that resulted in Vodafone Idea transitioning into the new entity called Vi. Nair's exit is a marker of the loss-making telco that has been trying to salvage itself and generating funds to ramp up its 4G network and clear its huge backlog of adjusted gross revenue (AGR) dues. The company has recently witnessed a slew of exodus of its top level executives. In October, Vodafone's Chief Technology Officer and stalwart Vishant Vora quit after a decade long stint and was replaced by Jagbir Singh, a seasoned telecom executive with previous stints with Reliance Jio and Bharti Airtel. In yet another move, Vodafone Idea had named Manish Sansi as its new Chief Legal Officer when Kumar Das relinquished this role.
Dr Reddy's CFO retires, completes two decades
Saumen Chakraborty, President and Chief Finance Officer (CFO) – Dr. Reddy’s has retired having served the pharmaceutical major for almost two decades. He worked across multiple functions including HR and IT. Chakraborty indicated that he is a happier person in leaving his company with a healthy and clean balance sheet. He joined Dr. Reddy's in 2001 as Global Head-Human Resources, at a time when the company was charting out its globalisation drive. Subsequently, he took additional responsibility for IT and Business Process Excellence in 2004, becoming the Chief Finance Officer for the first time in 2006. In 2009, he took over the mantle as the President, Corporate and Global Generics Operations. Realising that different parts of the business were working in silos and he therefore decided to lead the integration operations under manufacturing, quality, R&D and regulatory functions. In 2013, he began his second stint as a CFO, looking after the crucial finance function.
RBI clears re-appointment of Uday Kotak as MD
The RBI has approved the re-appointment of Uday Kotak as Managing Director (MD) of Kotak Mahindra Bank for a further duration of three years effective from January 1, 2021.The apex bank has also approved the appointment of Prakash Apte as part time Chairman and Dipak Gupta as joint MD for another three years. The re-appointments garner much interest as the central bank had earlier in the year proposed a 10-year cap for a tenure of bank founders as CEO or full time director. The re-appointments are a fallout of approvals already given by the Board of the bank and the shareholders at relevant meetings held in 2020, which was subject to the approval of the RBI. While Uday Kotak is the founder MD and promoter of the bank, Apte was appointed as the part-time Chairman of the bank at the annual general meeting held on July 19, 2018, for a period from July 20, 2018, till December 31, 2020. The private lender has a long-term succession planning framework in place. Previous media reports have said that Kotak's family is committed to remaining long term owners and shareholders of the bank. Incidentally, Kotak's elder son, Jay, is an Associate Vice President (AVP) with the bank.