People In The News: And They Got Him!
Pedro Parente, currently chairman of stock-market operator BM&FBovespa, will join as CEO at Petrobras. Since he stepped down as chairman in 2003, graft and mismanagement have wiped out more than $200 billion of shareholder value and saddled the company with a $130 billion debt
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Facebook Inc.’s first “security tip” for users is, “Don’t use your Facebook password anywhere else online.” Only CEO Mark Zuckerberg didn’t quite follow it. His Twitter and Pinterest accounts were taken over recently by hacker group called ‘OurMine Team’ because he reused a password: “dadada”. The password had appeared last month in a database of more than 100 million usernames and passwords stolen in 2012 from LinkedIn Corp. Zuckerberg’s Facebook account was not among the compromised profiles.
To The Rescue
The man who oversaw the transformation of Petrobras from a lumbering state oil monopoly into a thriving public-private partnership more than a decade ago is back in charge. Pedro Parente, currently chairman of stock-market operator BM&FBovespa, will join as CEO at Petrobras. Since he stepped down as chairman in 2003, graft and mismanagement have wiped out more than $200 billion of shareholder value and saddled the company with a $130 billion debt.
Travis Kalanick’s been served. A Delhi district court has ordered Uber co-founder and CEO to appear before it. This comes a month after the Delhi government issued a challan to the American entrepreneur for acting as a travel agent for 13 cabs caught plying illegally for his aggregator company in the capital. The Delhi government had also issued challans to Uber’s India president, Ankit Jain, under section 93 of the Motor Vehicles Act, 1988.
Going The Gates Way
Kiran Mazumdar-Shaw, head of biopharma major Biocon, has become the second Indian to join Giving Pledge, the billionaire philanthropic group started by Bill Gates and Warren Buffett in 2010. Shaw, 63, joins Wipro chairman Azim Premji as the only resident Indians to have taken the informal pledge, to divert at least half their wealth towards philanthropic efforts. Shaw was among 17 individuals and families who took the pledge in the past one year, joining a group of 154 signatories from 16 countries.
Burberry Group’s embattled chief executive Christopher Bailey took a 75 per cent pay cut last year as the UK’s largest luxury-goods maker struggled for growth. Bailey’s remuneration fell to £1.9 million in the year through March from £7.5 million a year earlier. He didn’t get a bonus or other incentive payments because earnings missed the company’s target.
A Big Loss
Former PepsiCo Inc CEO Roger Enrico, a noted marketer who pioneered using celebrities including pop star Michael Jackson to help sell soda, died at the age of 71, on 1 June. Enrico, who was CEO from 1996 to 2001 and known as the “Cola King” worked at the New York-based company for more than 30 years and was the architect behind the “Choice for a New Generation Campaign” that featured Jackson.
Facebook India has named Umang Bedi as its managing director (MD). He is replacing Kirthiga Reddy, who will take on a new role at the company’s Menlo Park headquarters. Bedi has close to two decades of leadership experience covering sales, marketing and partnerships with multinational companies. Prior to joining Facebook, he was MD, S. Asia, at Adobe Inc.
This article was published in BW Businessworld issue dated 'July 11, 2016' with cover story titled ' I-Banking Special - Dealmakers'
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