CEO – The News Desk

RBI rejects Tamilnad Mercantile Bank’s proposal for CEO candidate | Company News

12Apr

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Business

RBI rejects Tamilnad Mercantile Bank’s proposal for CEO candidate | Company News

2 min read Last Updated : Apr 13 2024 | 12:46 AM IST The Reserve Bank of India has rejected the names of the candidates proposed by Tamilnad Mercantile Bank (TMB) for the position of managing director (MD) and chief executive officer (CEO). “We would like to inform you that we have received communication from the Reserve Bank of India that the candidates proposed by the Bank for the appointment of MD & CEO were not found suitable,” the lender informed the exchanges. S Krishnan — the current MD & CEO of the Tuticorin-based lender — resigned in September 2023 citing personal reasons but was asked to continue until a new CEO is appointed. This was because Krishnan was the only whole-time director on the board of the bank. The TMB board accepted the res...

Wipro veteran Malay Joshi takes over Americas 1 unit

11Apr

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Business

Wipro veteran Malay Joshi takes over Americas 1 unit

BENGALURU: Wipro has appointed Malay Joshi as the CEO of its Americas 1 strategic market unit, effective immediately. Joshi succeeds Srini Pallia, who was appointed as CEO and MD of Wipro on Saturday.Joshi will also join Wipro's executive board. He was previously the senior vice president and business unit head, leading communications, media, tech, retail, travel, hospitality, and public sector industries, which make up one of Wipro's largest business units globally.In this role, he was responsible for helping clients drive successful enterprise transformations among other duties, enhancing client experience, strengthening delivery, and ensuring consistent revenue growth in the sectors he led.Joshi oversees a diverse array of industry sectors, assumes responsibility for the unit's profit ...

India must keep e-scooter subsidies to boost adoption, says Ather CEO | Company News

6Apr

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Business

India must keep e-scooter subsidies to boost adoption, says Ather CEO | Company News

India will need to keep subsidies for electric scooters for another few years to boost the switch from polluting motorbikes, the CEO of e-scooter maker Ather Energy told Reuters on Saturday. Industry experts believe subsidies such as cash incentives are crucial to India hitting its goal of electrifying 70% of its two-wheeler fleet by 2030, as the world's third-largest importer of oil looks to reduce dependence on fossil fuels. "We've been able to cut down a lot of subsidy reliance, but it's also come at the cost of almost a year's worth of lost growth," Ather CEO and co-founder Tarun Mehta said in an interview. Mehta was referring to the government's surprise decision in May to slash cash incentives for e-scooters to a maximum of 15% of the purchase price befor...

HCLTech announces alliance with Google Cloud to scale Gemini to global cos | Company News

3Apr

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Business

HCLTech announces alliance with Google Cloud to scale Gemini to global cos | Company News

IT services firm HCL Technologies (HCLTech) on Wednesday said it has expanded alliance with Google Cloud to create industry solutions by using the US tech giant's multimodal large language AI model, Gemini. HCLTech will familiarise and train its 25,000 engineers on Gemini for Google Cloud to help mutual clients innovate and optimise their businesses with GenAI (generative AI), according to a release. With this, HCLTech can offer expertise and technical skill sets that customers require for deploying and managing GenAI projects. HCLTech will enable 25,000 engineers on Google Cloud's latest GenAI technology to support clients at various stage of their AI projects, including the development of new use cases and capabilities for HCLTech platforms and product offeri...

26Nov

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Business

MD & CEO Abhishek Lodha

Realty firm Macrotech Developers aims to bring down its net debt to below Rs 6,000 crore by March next year from Rs 6,730 crore at the end of September quarter with the help of better cash flow. Macrotech Developers, which markets its properties under Lodha brand, has a presence in Mumbai Metropolitan Region (MMR), Pune and Bengaluru markets. "We have reduced our net debt by about Rs 540 crore in the second quarter of this fiscal to Rs 6,730 crore. Our target would be to reduce debt to below Rs 6,000 crore by end of this fiscal year," Macrotech Developers Managing Director and Chief Executive Officer Abhishek Lodha told PTI. The aim is to keep net debt below operating cash flow, which is estimated to be Rs 6,000 crore during 2023-24, he said. Lodha said ...

Dalton City Council agrees to move money to stormwater, recreation projects | Local News

14Nov

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Money

Dalton City Council agrees to move money to stormwater, recreation projects | Local News

City of Dalton officials have agreed to redirect $6 million from a 2020 bond issue that was originally allocated for a proposed aquatics center to recreation and stormwater projects.City Council members informally agreed to the proposal when they met as the Finance Committee last week. The council members will have to vote to approve any specific contracts.Citing soaring construction costs and large projected operating deficits, the council members voted in October to cancel the aquatics center. The city had budgeted $13 million for the project, with $6 million coming from bond funds.City Administrator Andrew Parker said th...

BSE Q2 net profit jumps to Rs 118 crore, revenue at record Rs 367 crore

11Nov

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Business

BSE Q2 net profit jumps to Rs 118 crore, revenue at record Rs 367 crore

Leading stock exchange BSE has reported a four-fold jump in net profit at Rs 118.4 crore for the quarter ended in September 2023. In comparison, the exchange had posted a net profit of Rs 29.4 crore in the year-ago period, BSE said in a statement. The bourse's revenue rose 53 per cent to a record Rs 367 crore in the July-September quarter of the current financial year (FY24), from Rs 240 crore in the year-ago period. "We shall continue to invest in development of human resources, new products, technology infrastructure, etc, and thus pursue long-term growth shareholders and deliver on our mission of Vibrant BSE 2025," the exchange's MD & CEO, Sundararaman Ramamurthy, said. The exchange's average daily turnover in the equity segment increased to Rs 5,...

Honda unveils autonomous vehicle, next-gen concepts

26Oct

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Business

Honda unveils autonomous vehicle, next-gen concepts

TOKYO: As it celebrates its 75th anniversary, Honda Motor Co is gearing up to roll out future-ready mobility solutions, some of which are being showcased at the ongoing Japan Mobility Show here. "When we look back on our history of offering a wide range of value to our customers and society as a manufacturer of mobility products, we can say that Honda has grown to this point while always being driven by dreams," Toshihiro Mibe, president, CEO and representative director at Honda Motor Co, said at the show.It has lined up a range of new mobility product concepts for travel on the ground, in the ocean and the skies, including a specialty sports model - Prelude Concept."Mobility enables us to see new surroundings, meet new people and discover new things, which expands the world we live in," ...

Unity CEO John Riccitiello stepping down, effective immediately

10Oct

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Technology

Unity CEO John Riccitiello stepping down, effective immediately

Unity game developer said that John Riccitiello as president and CEO of the company after nine years in leadership, effective immediately. James Whitehurst, who previously served as senior advisor and president at IBM, will fill in as interim CEO. The leadership transition comes during a turbulent time for the company. Just a month ago, Unity rolled out some to its developer pricing model after widespread backlash over its plan to charge developers for game installations. The move will directly impact developers, publishers and distributors. The upheaval of Unity’s business model came at the same time as a series of massive layoffs. In 2023, the company reduced its in an attempt to cut costs.Despite the recent controversy, Unity said it expects third-quarter revenue to fall somewhere b...

Drinks company in Poland appoints AI robot as ‘experimental’ CEO

24Sep

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Business

Drinks company in Poland appoints AI robot as ‘experimental’ CEO

NEW DELHI: As several workers are already living in a fear of a possible takeover of markets and jobs by artificial intelligence (AI) in future, a drinks company in Poland has reportedly appointed an AI robot as its 'experimental' CEO. Dictador, best known for its rums, has appointed the robot to oversee the company's growth into one-off collectables, communication or even strategy planning, as per reports. The robot goes by the name 'Mika'.“Dictador’s board decision is revolutionary and bold at the same time,” said its Europe chief Marek Szoldrowski. "This first human-like robot, with AI, in a company structure, will change the world as we know it, forever,” he said.Significant decisions, like hiring and firing, are still in the hands of the humans at the company, while Mika will largely...