Parag Agarwal takes over as CEO of Twitter
Parag Agrawal has taken over as the new Chief Executive Officer (CEO) of the micro-blogging platform Twitter as co-founder Jack Dorsey recently stepped down. Handing over the baton to the India-born tech lead, Dorsey relinquished his role with Twitter, having spent 16 illustrious years building the site and helming affairs at the top. Dorsey will continue to be on the Twitter board till the end of his term in 2022. Subsequently, Agrawal, the former chief technology officer (CTO) since 2017, will join the Twitter board. As CTO, Agarwal was responsible for the company’s technical strategy, improving its development velocity, and also enhancing the state of Machine Learning across the platform. Involved with the company’s crypto and blockchain teams, his appointment as the new CEO signals his continuity in focusing on blockchain and decentralised technologies. Agrawal joined Twitter in October 2011, when there were less than 1,000 employees as a software engineer, having fulfilled previous stints with Microsoft Research, AT&T Labs, and Yahoo! Research. His rise from Twitter’s first distinguished Engineer working across revenue and consumer engineering, re-accelerated the site’s audience growth in 2016-2017. In December 2019, he helmed Project Bluesky, an independent team of open-source engineers, architects, and designers that developed an open and decentralised standard for social media, enabling better control of abusive and misleading information on Twitter. An IIT Bombay and Stanford alumnus, Agrawal joins the league of India-born executives who have a strong presence globally. He now stands amongst the elite company of IBM’s Arvind Krishna, Google’s Sundar Pichai, and Microsoft’s Satya Nadella, and others defining leader boards of top U.S. technology firms.
Rachna BahadurByju’s ropes in Bain’s Bahadur as senior V.P.
The edtech unicorn company, Byju’s, has roped in former Bain & Co’s partner Rachna Bahadur as senior vice president to lead its global expansion plans. Rachna will lead Byju’s overall planning, strategy, and roadmap of Byju’s expansions in new and existing markets. She is expected to design Byju’s next growth phase, creating new partnerships, reinforcing sales, and building upon the company’s market positioning across markets. She will be responsible for strengthening Byju’s global footprint via its acquisition of EPIC, a California-based digital reading platform for children. Her appointment is significant as the Bengaluru-based Byju’s is on an acquisition spree, having paved its position as a prominent player in the highly competitive tech market, with close to $2 billion worth of acquisitions in the past several months. In her 15 years of career experience, Rachna has dedicated almost 12 years as an eminent Partner at Bain & Company. She headed the consumer product practice and co-led the ‘Women @ Bain’ India chapter, creating an inclusive and gender non-conforming (GNC) environment. During her tryst with Bain, she advised top Indian and MNC FMCGs on business models related to market entry, marketing, sales growth strategy, M&A, and organisation design. Rachna has a B.A. (Hons) in Mathematics from St. Stephen’s College, New Delhi, and an MBA from The Wharton School of Business. As yoga practitioner, she dabbles in art and painting and is an enthusiast who enjoys exploring new cultures and cuisines.
Gita GopinathGita Gopinath promoted as Deputy MD, IMF
Gita Gopinath, chief economist with the International Monetary Fund (IMF), will become the first woman in the history of the IMF to take over as Deputy Managing Director next year, replacing Geoffrey Okamoto. Gita was earlier scheduled to return to her academic career at Harvard University, effective January 2022, having served her tenure as IMF’s chief economist for three years. But, with the new promotion, she will lead surveillance and related policies, oversee research and flagship publications. Under Gita’s leadership, the IMF’s Research Department had strengthened and highlighted its contributions in multilateral surveillance via the World Economic Outlook (WEO). The WEO was incorporated as a new analytical approach, helping countries respond to international capital flows as part of the integrated policy framework. Gita’s work reflected a pandemic plan to end the COVID-19 crisis by setting targets to vaccinate the world at a feasible cost. As the first woman chief economist in the IMF’s history, she also gained respect and admiration across member countries and the institution. She has a proven track record of analytically leading rigorous work across multiple issues. Kristalina Georgieva, IMF’s Managing Director, has complimented Gita’s intellectual leadership in helping the global economy and the IMF during the worst economic crisis during the pandemic and aftermath.
Abhishek GuptaMyntra appoints Flipkart’s Gupta as CFO
Abhishek Gupta has been appointed as the new chief financial officer (CFO) of Walmart-owned online fashion retailer Myntra, effective January 1, 2022. Gupta will work closely with newly appointed Myntra CEO, Nandita Sinha and oversee finance functions at Myntra. He is expected to enhance further business partnering and strategic growth initiatives as Myntra scales new heights. Gupta is currently engaged with Flipkart Wholesale and Walmart India as the head of finance and leads the entire gamut of business finance functions across the supply chain, operations, category finance, memberships, monetisation, marketing, and new business initiatives. He kick-started his association with the Flipkart Group in 2018, initially joining as director of business finance. Before Flipkart, he was associated for six years with Unilever, managing multiple verticals across geographies. A chartered accountant and stalwart in finance-related functions, Gupta brings over 16 years of experience in the e-commerce and FMCG sectors. He has had previous stints with Abbott and ITC Ltd. during the formative years of his career. He has contributed to core commercial areas of risk management and internal controls, procure to pay, record to report, performance management, and global shared services. He also partnered with various functional units. He is a chartered accountant from the Institute of Chartered Accountants of India with a Bachelor of Commerce in accounting and finance from St. Xavier’s College, Kolkata.
Sanjiv MehtaUnilever’s M.D. appointed as FICCI President
Sanjiv Mehta, Chairman and Managing Director of Hindustan Unilever Limited (HUL), will be the new President of the Federation of Indian Chambers of Commerce and Industry (FICCI) effective December 18, 2021, for the term year 2021-22. He is the current Senior Vice President of FICCI. Mehta succeeds Uday Shankar, media baron and former President of The Walt Disney Company Asia Pacific, and ex-chairman of Star India. Uday Shankar held his post for a year, succeeding Sangita Reddy, the Joint Managing Director of the Apollo Hospitals Group. Mehta is a director on the Indian School of Business board, a member of the Breach Candy Hospital Trust, and the South Asia Advisory Board of Harvard Business School. With a bachelor’s degree in commerce and chartered accountancy from India, he has completed an Advanced Management Programme from Harvard Business School. In the last 19 years of his 28 years of association with Unilever, Mehta has led businesses worldwide. He is the president of Unilever South Asia (India, Pakistan, Bangladesh, Sri Lanka, and Nepal) and a member of the Unilever Leadership Executive, Unilever’s global executive board.
Sayak MaityU.S. law firm ropes in M&A specialist from India
Sayak Maity, the M&A specialist, formerly with India’s AZB & Partners, has been appointed partner with the U.S. law firm White & Case. Maity joins White & Case’s Singapore office, which hosts 13 partners, including Maity. Maity is a specialist in assisting P.E. funds on investments in India and the Asia-Pacific region and an advisor on joint ventures and corporate governance. He has had an in-house role with Tata Sons in previous stints and was also associated with the prominent law firm, Shardul Amarchand Mangaldas. Maity is a 2011 NUJS Kolkata graduate specialising in corporate, M&A, and private equity portfolios. He had moved from Shardul Amarchand Mangaldas to Tata Sons in 2018.
Ittira DavisIttira Davis, appointed as MD-CEO of Ujjivan Small Finance Bank
Ittira Davis will take over as managing director (MD) and chief executive officer (CEO) of the Ujjivan Small Finance Bank for three years, subject to the approval of the members of the Bank and Reserve Bank of India. His appointment as Director (Executive) will be for a period co-terminus with his tenure as M.D. and CEO. With the new promotion, Davis adds to his portfolio within the bank, having served Ujjivan since 2015 and played a significant role in transitioning it into a Small Finance Bank. He was the former CEO of Ujjivan Financial Services from July 2018 and had subsequently resigned from the post. An international banker with over 40 years of experience, he has worked extensively in India, the Middle East, and Europe and is an alum of the Indian Institute of Management-Ahmedabad (IIM-A). In previous stints, he was with the Europe Arab Bank from July 2008 to October 2012, starting as the Managing Director – Corporate and Institutional Banking and becoming an Executive Director. He has also had previous stints with Citibank in India and the Arab Bank Group in the Middle East.
Neeli BendapudiNeeli Bendapudi named President of Penn State University
Neeli Bendapudi has been appointed as the president of the Pennsylvania State University, becoming the first person of colour to be designated to the top role. Her unanimous nomination as Penn State’s next president by the Penn State Board of Trustees is with effect from 2022. Neeli succeeds President Eric J Barron, who is due to retire, having served Penn State for over 30 years. Neeli is currently the 18th president of the University of Louisville and is considered a leader in higher education and a specialist in marketing and consumer behaviour. She focuses on collaboration and development and has dedicated her career to fostering inclusivity and creating opportunities for students, faculty, and staff. Neeli will assume leadership for Penn State’s 24-campus network and top-ranked online World Campus. Penn State University offers more than 275 baccalaureate degree majors and has the largest network of living alumni worldwide, with more than 700,000 members. In her current role with Louisville, she manages the university’s 12 academic colleges, Division 1 athletics programme, and integrated academic health system, including five hospitals, four medical centers, and nearly 200 physician practice locations. In the 27+ year academic career, Neeli has taught marketing and served in a variety of administrative roles over the years, including as provost and executive vice chancellor at the University of Kansas, dean of the School of Business at the University of Kansas, and founding director of the Initiative for Managing Services at Ohio State University. In other previous roles, she was executive vice president and chief customer officer for Huntington National Bank and a consultant to some of the world’s largest companies, including AIG, Proctor & Gamble, and the U.S. Army. She is a recipient of numerous college and national teaching awards, including the Academy of Marketing Science Outstanding Marketing Teacher Award.
Leena NairChanel ropes in Unilever veteran as CEO
Veteran Unilever executive Leena Nair will helm affairs as the new global CEO of the 111-year old French luxury fashion house Chanel. Based out of London, she will be joining the French chic couture iconic company in January 2022. With Nair onboarding Chanel, Alain Wertheimer, the 73-year-old French billionaire, who co-owns Chanel with his brother Gerard Wertheimer, will move on from his temporary CEO post to becoming Chanel’s global executive chairman. Nair will also be relinquishing her 30 years’ career innings with Unilever to take charge of one of the world’s leading fashion luxury goods brand. She was Unilever’s chief of human resources and a member of the company’s executive committee. Nair, an India-born British national, is a rare outsider who will manage affairs for the tightly controlled family fashion house, renowned for its quilted handbags, tweed suits, and No. 5 perfume. Nair in fact officially replaces Maureen Chiquet, the U.S. businesswoman, an outsider with a fashion background who became Chanel’s CEO for nine years until early 2016. In her previous role, Nair was adjudged “the first female, first Asian, youngest ever” Unilever - chief human resources officer (CHRO). Nair rose through the ranks of Unilever and kick started her career in 1992 as a trainee on the factory floor, having passed out with a gold medal from the Xavier School of Management. At Unilever, Nair oversaw 150,000 people, and is expected to show a more inclusive approach at Chanel too. Under her watch, Unilever achieved gender parity across global managements and committed to pay the living wage across the supply chain. She serves as a non-executive board member of British Telecom and has previously served as non-executive director of the British government’s business, energy and industrial strategy departments.