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People In The News: A Powerful Exit

Information technology services provider Mphasis Limited has recently appointed Nitin Rakesh as its CEO and additional director on the Board

Photo Credit : Bloomberg, Bloomberg,

T.K. KURIEN
ARUN KUMAR
TRAVIS KALANICK
VIKRAM LIMAYE
JYOTI BANSAL

Uber Technologies Inc. chief executive officer (CEO) Travis Kalanick is stepping down from President Donald Trump’s business advisory council after criticism from customers and drivers. Kalanick’s participation on the council, along with more than a dozen other US executives, prompted blow-back on social media after Trump’s controversial executive order on immigration. It snowballed into a #DeleteUber campaign that benefited rival Lyft Inc. Kalanick, 40, told the President in an e-mail that he would no longer be involved with the advisory council.

New ITC CEO
ITC named Sanjiv Puri as its chief executive with effect from February 5, when chairman Y. C. Deveshwar moved to a non-executive role. In a notice to stock exchanges recently, the tobacco-FMCG-hospitality conglomerate said the appointment of Puri, 53, and splitting up of the current chairman’s role into CEO and chairman was put up before the company’s nomination and compensation committee on January 27.

ITC had earlier announced that Deveshwar will move to a non-executive role from February 5, and that he will mentor the successor.

Entrepreneurial Aspirations
Premji Invest, the investment arm of Wipro chairman Azim Premji, recently said it has appointed T.K. Kurien as its managing partner and chief investment officer (CIO) with effect from 1 February. Kurien is Wipro’s executive vice-chairman and is set to retire from that post at the end of this month. He succeeds Prakash Parthasarathy who has decided to pursue his entrepreneurial aspirations, a release said.

Kurien began his career with Wipro in 2000. He has held leadership positions across businesses like EcoEnergy division, WCS (Wipro Consulting Services) and healthcare and life sciences unit. Before joining Wipro, Kurien served as managing director of GE X Ray from October 1997 to January 2000.

New Billionaire
India-born IIT Delhi graduate Jyoti Bansal sold his application intelligence company AppDynamics to networking giant Cisco for $3.7 billion recently adding another Indian to the global list of billionaires. Bansal’s Silicon Valley-based AppDynamics works with some of the world’s largest companies to improve their software application and business performance. Bansal, who moved to US in July 2000, had to wait seven long years to begin his entrepreneurial journey.

NSE To Get A New Face
Vikram Limaye, 50 will be the new MD & CEO of National Stock Exchange of India Ltd. Limaye was chosen by a selection panel and his appointment was approved by the board of India’s largest stock exchange recently. NSE has proposed an annual pay package of Rs 8 crore for Limaye, who is the CEO and MD of IDFC Ltd, an infrastructure financing firm. NSE will seek approval of its shareholders on March 7, for Limaye’s appointment and remuneration package.

Leading The Way
Facebook Inc. hired Hugo Barra to lead its virtual reality efforts just days after he quit Chinese smartphone maker Xiaomi Corp. Barra, who led Xiaomi’s international expansion, will now take on a different challenge as vice president of virtual reality. He will need to navigate the competitive and young market, where Facebook’s Oculus Rift and Gear products have drawn interest but not dominance.

Taking Over

KPMG India has selected Arun M Kumar, an Obama administration member and an old global hand in the professional service major, as its new Chairman and CEO.Kumar, who has a five-year tenure, succeeds Richard Rekhy, who put in his papers in November last year. Kumar was elected by the KPMG India Board and ratified by the Indian partners. 

Picking Up
Information technology services provider Mphasis Limited has recently appointed Nitin Rakesh as its CEO and additional director on the Board. Rakesh until recently was CEO and President of Syntel, Inc.(a NASDAQ listed IT Services Company).


This article was published in BW Businessworld issue dated 'Feb. 6, 2017' with cover story titled 'PSUs' Merger A Pipe Dream?'



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