Nadella is optimistic about India’s AI and Cloud potential

Satya Nadella, chairman and Chief Executive Officer (CEO), Microsoft, asserted that India tops in artificial intelligence (AI) and showed optimism in India’s calibre to lead a ‘public digital good story.’ Nadella, in his recent four-day visit to India, affirmed that India would thrive in utilizing AI for solving real-life problems. Addressing the ‘Microsoft Future Ready Leadership Summit’ in Mumbai, Nadella ranked India as the 2nd biggest contributor to the developer ecosystem. He expressed his optimism about the power of the cloud infrastructure as the foundation for scaling India’s digital journey and predicted that India would become the third-largest economy by the end of the decade. Nadella promised Microsoft’s role in encouraging innovations across the tech stack in supporting the country’s ecosystem of developers, start-ups, and companies across sectors. He highlighted processes and priorities for businesses to focus on, including migrating to the cloud economy, unifying data and application of AI platform models, empowering fusion teams (remote work), re-energizing workforce (upskilling), embracing collaborative business processes, and prioritising cyber security. He emphasised the need for inclusivity and empowerment through technology and economic growth and asserted that the company is very committed to India. “When we think about Make in India, we are investing-it is the largest place where we have our own human capital, we have our data centres, all of these Artificial Intelligence capabilities that are being used in all application, are all in some sense Made in India,” he said. Hyderabad-born Nadella lauded India’s capability to build public digital infrastructure for the greater good.

Sanjiv Kapoor

Sanjiv Kapoor is CEO-designate and not CEO of Jet Airways

Sanjiv Kapoor will be retained as the CEO-designate of the grounded Jet Airways until the airline’s ownership is transferred to the Jalan-Kalrock Consortium (JKC) by the lenders. The new development comes as the ownership deadlock continues between the Jalan-Kalrock consortium and Jet Airways’ lenders, over the payment and transfer of the airline’s ownership. Ashish Chhawchharia, the National Company Law Tribunal (NCLT) -appointed resolution professional and head of the Jet Airways management committee, has sent a notice to Kapoor asking him to refrain from using the title of the airline’s CEO. The monitoring committee has notified that Kapoor’s tenure as CEO will come into force once the resolution plan achieves an effective date and after the monitoring committee approves his appointment. The committee has been overseeing the implementation of the resolution plan, and the airline has yet to be acquired by the Jalan-Kalrock consortium. JKC was declared the winning bidder for Jet Airways after the June 2021 insolvency resolution process. In March 2022, Kapoor was designated as the airline’s CEO with effect from April 4, 2022, and aviation safety regulator DGCA revalidated the airline’s air operator certificate in May. The airline announced its plans to recommence operations in September 2022 but has since postponed its relaunch.

Arun Kumar Singh

Former BPCL chief to steer ONGC

Arun Kumar Singh has been appointed as the Oil and Natural Gas Corporation (ONGC) chairman, effective March 1, 2023. Singh was the former chairperson of Bharat Petroleum Corporation Limited (BPCL), the oil refining and marketing company. With the new ONGC transition, he has become the first retired person to be appointed as the head of a ‘maharatna’ public sector undertaking (PSU). Singh benefits from the change in the Department of Personnel & Training (DoPT) eligibility criteria for a board-level position for applicants from within PSUs to 60 years from the previous maximum 58 years age limit as of the date of the vacancy. ONGC has been without a full-time head since April 2021, previously steered by a chairman and managing director. However, in a stock exchange filing, ONGC said, “Singh has been appointed chairman of the company by the Ministry of Petroleum and Natural Gas vide a letter dated December 7, 2022.” It remains unclear if the post will be split and a separate managing director will also be appointed in due course. Singh was chosen by a search-cum-selection committee, having interviewed six candidates for the post. He was also selected to head the Petroleum and Natural Gas Regulatory Board (PNGRB). Before this most recent appointment, Singh was Director (Marketing) with BPCL from October 2018 to September 2021 and was later promoted to chairman and managing director of the company. He eventually retired as the BPCL chief in October 2022. Singh is a mechanical engineer from the National Institute of Technology, Patna.

Gautam Adani

Billionaire Adani narrows wealth gap with Musk, overtakes Bezos and Page

Gautam Adani, the founder and chairman of the Adani Group, has been crowned as ‘Asia’s busiest dealmaker’ by Bloomberg and the only wealthiest person in the Bloomberg Billionaires top 10 Index to have added to his wealth in 2022. Billionaire Adani currently ranks as the world’s 3rd richest person as his fortune has gone up to $121 billion in one year and is almost bridging the ‘rich quotient’ gap with Tesla CEO Elon Musk. While Adani’s net worth soared from $44 billion to $121 billion in 2022, Musk’s fortune dipped from $133 billion to $137 billion. Market watchers speculate that if Musk’s net worth continues to fall, and Adani keeps adding billions to his fortune at the same pace as in the last 12 months in 2022, he might dethrone the Twitter boss in 2023. The Adani group’s flagship company Adani Enterprises, gained around 116% in 2022, doubling its investors’ wealth. Adani Power stock surged 185%, Adani Wilmar gained over 105%, and Adani Total Gas soared to 91%. Adani group’s market capitalization grew 9-fold in three years, crossing Rs 17.9 lakh crore in December 2022, claiming worth as India’s second most valuable firm, following the Tata Group, and going ahead of Mukesh Ambani’s Reliance Industries. With Musk’s dipped net worth, Bernard Arnault, a Frenchman, and owner of LMVH, providing high society with its Louis Vuitton luggage, Christian Dior couture, Tiffany jewellery, and Dom Pérignon champagne, has become the world’s richest man with a net worth of $162 billion. Musk’s wealth crashed by $138 billion, Jeff Bezos, Amazon’s founder, shed $87 billion, and Alphabet co-founder Larry Page’s net worth slumped by $47 billion.

Rasika Malhotra

L’Oréal appoints Rasika Malhotra as HR Director – India

Rasika Mahajani Malhotra, takes over as L’Oréal India’s Director of Human Resources. She replaces Roshni Wadhwa, who will take on as the company’s HR Transformation Director – South Asia Pacific, Middle East, and North Africa (SAPMENA). Rasika confirmed the new development on social media and stated, “Excited to share the next milestone in my professional journey as the Director – Human Resources for L’Oréal India.” Rasika’s new responsibilities entail developing capabilities, culture enablement, collaboration, and HR excellence, helping L’Oréal India to become a future-ready organisation. She brings 20+ years of diverse experience across B2B, consumer products, FMCG, manufacturing, oil and gas, and technology across international geographies and domains. She is well-versed in business partnering and strategy, organisation development, talent management, HR transformation, cultural integration, and D&I. She joined L’Oréal as an Executive Partner and CHRO, streamlining the organisation process through a team of virtual experts across finance, marketing, ISC, legal, and human resource portfolios. She worked with Infinity Growth Services LLP (www.dont-hire.com) before her journey with L’Oréal. In other previous stints, Rasika has been associated with Kimberly-Clark, Mattel, Inc., Castrol, and Reliance. She holds a Master of Labour Law and Labour Welfare from the Savitribai Phule Pune University.

Gunjan Patidar

Patidar resigns from Zomato

Gunjan Patidar, Co-founder and Chief Technology Officer (CTO) of Zomato, has resigned, which marked yet another exit in a spate of exodus by top company executives in the past year. Patidar was one of Zomato’s early founders and built the core tech systems for Zomato. The reasons for his resignation remain unstated as Zomato begins its hunt to fill Patidar’s significant role. In his 14+ years of association with the app-based food-delivery company, Patidar developed a highly skilled tech leadership team and was responsible for all tech-related verticals. He is credited for having nurtured tech talent and enhanced the design, development, and deployment of new products for Zomato’s customers. Before his Zomato stint, he was a Software Engineer with Cvent. He is an alumnus of the Indian Institute of Technology, Delhi. The IIT journey proved a turning point for Patidar, who hails from Madhya Pradesh; when he was introduced to the prestigious institute by his elder brother during his 10th grade.

Menaka Menon

DDB Mudra onboards veterans Menon and Pradhan

DDB Mudra Group has onboarded Menaka Menon as the National Strategy Head and Nitin Pradhan as Creative Head – South, to strengthen its leadership roles. The advertising stronghold, the DDB Mudra Group, is a part of the DDB Worldwide Communications Group. Menaka and Pradhan’s contributions will bring their cumulative 40 years of experience in creative thinking and strategic planning across brands and categories. Menaka has had previous stints with prestigious companies, including FCB, JWT, and Leo Burnett. She started her advertising career journey with account management, moving on to other marketing roles. She has contributed to the media, consulting, and social sectors. An alumnus of MICA, Menaka has handled a portfolio of prestigious brands, including Amazon, HUL, ITC foods, and Star Network. Pradhan brings 20+ years of experience working with brands like KBC, Sony Network, Samsung, and Tata Sky. Prior to his current role with DDB Mudra, he worked with Chiel India, with previous experiences at top advertising giants like Ogilvy, McCann, Publicis Groupe, and Leo Burnett.

Harry Hakuei Kosato

Harry Kosato is cuisine goodwill ambassador for India

Harry Hakuei Kosato has been appointed as ‘Japanese Cuisine Goodwill Ambassador” for India by Japan’s Ministry of Agriculture, Forestry, and Fisheries (MAFF). He is popularly known for his India association as the Director of Sushi and More India, the Japanese sushi delivery and takeaway business. He is the India representative and Director for Kikkoman India, the producer of Japanese soy sauce. MAFF has been promoting Japanese food and dietary culture since 2015 after UNESCO declared “Washoku,” or Japanese cuisine, as an intangible cultural heritage. Kosato has multiple interests besides being a corporate honcho, including Dr. Smart Money, a social impact project supported by Oxford Innovation in London. He launched his first business book in Japanese “Oxford Success Principles: 10 Principles for Driving Success in Life” and recently completed his second Master’s degree (Applied Business) from the SBS Swiss Business School.

Suhail Sameer

BharatPe’s CEO steps down, Negi to helm affairs

Suhail Sameer, Chief Executive Officer of fintech unicorn, BharatPe, has stepped down and will likely transition to a strategic adviser’s role, effective January 7, 2023. With Suhail’s resignation, Nalin Negi, the current chief financial officer (CFO) of BharatPe, has been appointed as the interim chief executive officer (CEO), effective from January 7, 2023. He will continue to hold the fort until the board finds a successor for Suhail Sameer. Suhail is expected to enable a smooth transition for Negi to helm affairs at the top. Negi brings 28+ years of experience, having previously worked at GE Capital and SBI Card. He was the chief financial officer (CFO) with SBI Card for 10+ years. Media reports state that Suhail will likely set up a private VC fund and has applied for the management entity. Suhail has been leading the New-Delhi-based BharatPe after it ousted co-founder Ashneer Grover, who resigned as the CEO last year.

Hong Ju Jeon

LG Electronics India appoints new MD

Hong Ju Jeon joins LG Electronics India Pvt. Ltd. as its new Managing Director (MD) and will be responsible for its India businesses. Jeon is expected to leverage India’s growing economy and its diverse demographics to develop a product portfolio skewed to the demands of India’s consumer sector. Before his elevation to the MD’s post, Jeon was the President of the South Korean consumer electronics major’s subsidiary in the Gulf region. In other previous roles, he held senior positions with LG Electronics as Managing Director for the company’s subsidiaries across Iraq, Jordan, Lebanon, and Syria. Jeon replaces Young Lak Kim, former Managing Director of LG Electronics India, who has been promoted as Executive Vice President and will join as the Sales & Marketing Head for Korea.