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27Aug By NitishNo Comments

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TikTok CEO resigns within 90 days

HongKong, Aug 27th, 2020: TikTok CEO Kevin Mayer resigned amid US pressure for its Chinese owner to sell the popular video app, which the White House says is a security risk. In a letter to employees, Mayer said that his decision to leave comes after the "political environment has sharply changed". His resignation follows President Donald Trump's order to ban TikTok unless its parent company, ByteDance, sells its US operations to an American company within 90 days. "I have done significant reflection on what the corporate structural changes will require, and what it means for the global role I signed up for," he said in the letter. "Against this backdrop, and as we expect to reach a resolution very soon, it is with a heavy heart that I wanted to let you all know that I have decid...

WeWork Appoints Indian Origin CEO to start fresh chapter

3Feb By PriyankaNo Comments

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WeWork Appoints Indian Origin CEO to start fresh chapter

New York, Feb 3, 2020: Embattled office-sharing firm WeWork has hired a new CEO to turn the page on Adam Neumann, its co-founder and former leader whose antics have finally tired investors. Indian origin Sandeep Mathrani, a real estate industry veteran, will officially take over on February 18, WeWork said in a statement published Saturday. He will be charged with the difficult task of relaunching WeWork, which had been one of America''s most celebrated startups that put a mammoth footprint in the commercial real estate of major cities around the globe. Its collapse led to Neumann''s departure and cost the main shareholder, Japanese billionaire Masayoshi Son, billions of dollars. Mathrani will replace Artie Minson and Sebastian Gunningham, who have been acting as interim CEOs ...

Larry Page, Sergey Brin step down; Sundar Pichai promoted as Alphabet CEO

4Dec By AdityaNo Comments

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Larry Page, Sergey Brin step down; Sundar Pichai promoted as Alphabet CEO

Google's India-born Chief Executive Officer Sundar Pichai will assume the leadership role at its parent firm Alphabet after the internet giant's co-founders Larry Page and Sergey Brin stepped down from its active management, making him one of the most powerful corporate leaders of the world. Page and Brin are stepping down as CEO and president, respectively, of Alphabet, the company announced on Tuesday. Pichai, 47, the current CEO of Google and a longtime executive at the company, will take over as CEO of Alphabet in addition to his current role. Considered as a significant shakeup in the Silicon Valley company, the shuffle comes at a time when Google is facing mounting scrutiny over its size, data privacy practices and potential impact on society. With Alphabet now well-esta...

Alibaba Appoints new CEO for its Southeast Asia e-commerce Firm

13Dec By Gauri SinghNo Comments

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Alibaba Appoints new CEO for its Southeast Asia e-commerce Firm

Alibaba has appointed a new CEO at its e-commerce firm in Southeast Asia known as Lazada. Previous CEO Lucy Peng stepped down to be replaced by Lazada executive president Pierre Poignant after just nine months in the role. The company owns 90 percent of Lazada and has been involved in the business since April 2016 when it bought 51 percent of Lazada for $1 billion from Rocket Internet. Also, after the acquisition Alibaba invested a further $1 billion last year to increase its equity to around 83 percent and earlier this year it raised its stake even higher with an additional $2 billion injection. Lazada operates in six countries across Southeast Asia, but there are very few indicators of how the business is performing. Alibaba’s own financial re...

WhatsApp CEO Seeks RBI Nod to Expand Payment Services to all Users

3Dec By Gauri SinghNo Comments

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WhatsApp CEO Seeks RBI Nod to Expand Payment Services to all Users

The popular messaging app Whatsapp which has drawn fire from the government over spread of fake messages on its platform, has written to the Reserve Bank of India (RBI), seeking a formal nod to expand payments services to all its 200 million users in India. The company is waiting for a regulatory clearance to launch full-fledged payments operations in India - months after its 'testing' amassed nearly one million users. It has been almost two years since it first began discussions with the government on its payments services plans. "I write to request your formal approval to immediately expand WhatsApp's BHIM UPI (Unified Payments Interface) compliant payments product to all users in India, giving us the opportunity to offer a useful and secure service that can improve the lives of Indi...

WeWork-owned Meetup Appoints David Siegel as the CEO

31Oct By Gauri SinghNo Comments

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WeWork-owned Meetup Appoints David Siegel as the CEO

New York-based firm Meetup that is owned by WeWork has announced the appointment of David Siegel as the CEO of the company. Earlier this year, The company’s founder and CEO Scott Heiferman moved into the chairman position, leaving the CEO role vacant, and thus, this appointment has taken place. David Siegel will now be taking the helm at the 15-year-old company Meetup. Prior to this, he has been the CEO of Investopedia for three years, tripling the company’s revenue and doubling its traffic in that period. Even before that, Siegel was president of Seeking Alpha, overseeing U.S.-based functions including sales, marketing, product and bizdev. At the end of 2017, co-working major WeWork acquired Meetup for around $200 million. “In a world where technology often drives greater distances...

Satish Kumar Gupta Apponited as the new Paytm Payments Bank CEO

25Oct By Gauri SinghNo Comments

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Satish Kumar Gupta Apponited as the new Paytm Payments Bank CEO

Paytm Payments Bank has appointed veteran banker Satish Kumar Gupta as managing director and CEO. Gupta comes in after Renu Satti stepped down as CEO in July and moved on to head the company’s new retail business. Gupta was former deputy general manager at State Bank of India where he worked for over three decades. “I have been fortunate to experience the disruption and growth that the Indian economy has witnessed in promoting digital payments. I look forward to leveraging my understanding of banking and payments at Paytm Payments Bank and aligning myself to its vision of bringing financial inclusion through digital payments,” Satish Kumar stated. Paytm has been strengthening the compliance structure of its payments bank unit. Last month, it moved Rama Subramaniam Gandhi, an advisor t...

Tata Starbucks Appoints Navin Gurnaney as the New CEO

3Oct By Gauri SinghNo Comments

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Tata Starbucks Appoints Navin Gurnaney as the New CEO

Tata Starbucks, a joint venture between Tata Group and Starbucks has appointed Navin Gurnaney as its chief executive officer effective January 1, 2019. The new CEO will be replacing Sumitro Ghosh who will return to the US parent company after a three-year stint. The company stated that Gurnaney will be responsible for driving Tata Starbucks overall strategic direction and vision in India. Also, it will help in strengthening Starbucks business growth. “We are pleased to welcome Navin Gurnaney, who has a proven track record of success within Starbucks and is a business leader with the ability to bring people together, as Tata Starbucks continues to innovate and position itself for long-term growth in the India market,” said John Culver, group president, International, Channel Developme...

Following, SEC’s settlement, Elon Musk out as Tesla Chairman

1Oct By Gauri SinghNo Comments

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Following, SEC’s settlement, Elon Musk out as Tesla Chairman

In the charges against Tesla and Elon Musk, the entrepreneur has agreed to pay a total of $40 million and make a series of concessions to settle a government lawsuit. This settlement is enabling Musk to remain CEO of the electric car company but requires him to discontinue his role as chairman for at least three years. However, he will continue to be the company's CEO. Following this, Tesla is looking to hire an independent chairman to oversee the company. "I do not doubt the value of Musk to Tesla," John Coffee, a Columbia University law professor and corporate governance expert, said. "Without him, they are just a struggling startup that is burning cash at a hopeless rate and is facing a debt refunding crisis in the near future. Besides a new chairman, Tesla was also ordered to ...

Intel Declares The Resignation Of CEO Brian Krzanich

22Jun By Gauri SinghNo Comments

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Intel Declares The Resignation Of CEO Brian Krzanich

Intel Corp., the popular technology firm has declared the resignation of its chief executive officer Brian Krzanich on Thursday. This event was followed by an inquiry that proved that the CEO was in a consensual relationship with an Intel employee, which is against the company’s policies. Krzanich was serving Intel Corp. as CEO since the past five years that is 2013. He moved up the positions in the company over more than three decades. One of the sources claimed that Krzanich’s relationship with the subordinate was not recent. However, Intel got to know about the same only a few days ago. "An ongoing investigation by internal and external counsel has confirmed a violation of Intel's non-fraternization policy, which applies to all managers," the company said in a statement. "Given the ...

Shoppers Stop Appoints Rajiv Suri as The New CEO and MD

9Jun By Gauri SinghNo Comments

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Shoppers Stop Appoints Rajiv Suri as The New CEO and MD

The Indian retail giant Shoppers Stop on Friday has announced the appointment of Rajiv Suri as the new Chief Executive Officer and Managing Director of the company with immediate effect. Rajiv Suri, age 55, was appointed at this position in January. He has replaced Govind Shrikhande who will step down by the end of this month. He has been working with the departmental store chain since 2001. Prior to joining Shoppers Stop, Suri was the CEO of the Majid AI Futtaim (MAF) Fashion business, which is spread across over 140 stores across Dubai, United Arab Emirates. In Dubai, he led strategic development, growth, transformation, innovation and digitalization and helped the company to grow massively. Shoppers Stop is an Indian chain of departmental store chain spread across the country and...

Vodafone’s CEO Now Becomes the Chairman of COAI

8Jun By Gauri SinghNo Comments

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Vodafone’s CEO Now Becomes the Chairman of COAI

The telecom industry organization COAI (Cellular Operators Association of India) on Thursday announced the appointment of Sunil Sood as the chairman of the company who was the Managing Director & CEO of Vodafone India since 2015. Ajai Puri, who has been the Chief Operating Officer of Bharti Airtel will be the vice chairman of the association. Sunil Sood from the past two years playing the role of the Vice Chairman of COAI and now has replaced Gopal Vittal who held the position of Chairman till now and also was Bharti Airtel's MD and CEO for India and South Asia. The recent appointed was announced at the Annual General Body meeting for fiscal 2018-19. COAI said in a statement, "...Sunil Sood, Managing Director & Chief Executive Officer, Vodafone India Ltd, who was Vice Chairman ...