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Berkshire Shareholders will keep Warren Buffett as chairman

5May By PriyankaNo Comments

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Berkshire Shareholders will keep Warren Buffett as chairman

5/5/2022, NY, CALF: In a filling on Wednesday, Berkshire Hathaway Inc. mentioned that shareholders vote to keep Warren Buffett both chairman and chief executive. The proposal, which called for an independent chair, received only 54,425 votes (about 11%) to 448,868 against (89%), according to the filing. In the form 8k, all other 14 Berkshire directors including Buffett; Vice Chairmen Charlie Munger, Greg Abel and Ajit Jain; and lead independent director Susan Decker won reelection with more than 86 per cent of votes cast. The Company has also received a letter from the NYSE that acknowledged that the Company is back in compliance with the continued listing standards establishing a majority of independent directors on its board. Buffett, 91, became CEO of Berkshire in 1965, and has...

Robyn Denholm Appointed as Tesla Chairman After Elon Musk’s Resignation

9Nov By Gauri SinghNo Comments

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Robyn Denholm Appointed as Tesla Chairman After Elon Musk’s Resignation

Soon after Elon Musk announced his retirement from the post of Tesla’s chairman, the company has stated that board member Robyn Denholm will replace Elon Musk as the chairman. Musk, who has been on Tesla's board since 2014, tweeted in August he was considering taking the company private for $420 per share and had secured funding for a deal that was later scuttled but attracted scrutiny from several government agencies. As a result, Musk had to leave the position of the chairman. The appointment of Denholm caps months of turbulence for the company and its stock as investors called for stronger oversight of Musk, whose erratic public behavior raised concerns about his ability to steer the company through a rocky phase of growth. "Would like to thank Robyn for joining the team. Great r...

Richard Branson is no more the Chairman of Virgin Hyperloop One

23Oct By Gauri SinghNo Comments

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Richard Branson is no more the Chairman of Virgin Hyperloop One

The billionaire entrepreneur Richard Branson has reportedly stepped down from the chairman role of Virgin Hyperloop One. In a statement, Branson mentioned that the company would require more time than he could devote to the company. “At this stage in the company’s evolution, I feel it needs a more hands-on Chair, who can focus on the business and these opportunities. It will be difficult for me to fulfill that commitment as I already devote significant time to my philanthropic ventures and the many business within the Virgin Group,” said Richard Branson. A thing that wasn’t mentioned was the cancellation of a planned project with Saudi Arabia after Branson criticized the kingdom and suspended negotiations around an intended $1 billion investment from the nation’s Public Investment Fund i...

Elon Musk to Pay a $20 million Fine & Step Down as the Chairman

18Oct By Gauri SinghNo Comments

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Elon Musk to Pay a $20 million Fine & Step Down as the Chairman

Elon Musk, the CEO of the electric vehicle giant Tesla is the largest shareholder of the company and is again looking to buy another $20 million in common stock. As a part of the deal, Musk has agreed to pay a $20 million fine and step down as chairman of the board for at least three years. He will still keep a board seat and has not admitted or denied any of the SEC’s allegations. Along with this, Tesla will pay a separate $20 million fine. The company also agreed to monitor and pre-approve Musk’s communications through channels such as Twitter and the Tesla blog. The 8-K document detailed a settlement agreement between Musk, Tesla and the SEC over allegations of securities fraud connected to his August 7 “funding secured” tweet about taking the electric automaker private. At the...

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 ...

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 ...

This is Why Cyrus Mistry Ousted By Ratan Tata? Surprised By The Reason Says Mistry

30Oct By AdityaNo Comments

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This is Why Cyrus Mistry Ousted By Ratan Tata? Surprised By The Reason Says Mistry

The war of words between Tata Sons and its ousted Chairman Cyrus Mistry ratcheted up a notch late on Friday, with Mistry stating he was surprised with reasons given by the Indian conglomerate for his dismissal. Mistry was sacked as chairman by the board of Tata Sons on Monday and a scathing 5-page letter he wrote to the board was leaked on Wednesday, turning a boardroom feud into a public row. Mistry's letter included allegations of corporate governance failures within Tata Sons, and a series of other barbs aimed at family patriarch Ratan Tata, who has returned as interim chair of the $104 billion salt-to-software conglomerate. In a statement on Thursday, Tata accused Mistry - whose Pallonji family owns a minority stake in Tata Sons - of making "unsubstantiated claims and malicious a...

Focus on Business & Market Leadership, Not on Cyrus Mistry Exit: Ratan Tata

25Oct By NitishNo Comments

Entrepreneurs Talk

Focus on Business & Market Leadership, Not on Cyrus Mistry Exit: Ratan Tata

A day after the abrupt ouster of Cyrus Mistry as Tata Group chairman, Ratan Tata, who has assumed charge as interim Chairman, today asked senior management of the conglomerates firms to focus on their businesses without being concerned about the top level change. Stating that his role is for short term so as to ensure stability and continuity at the group, Tata asked top executives of the USD 100 billion conglomerate to act as leaders in respective markets and focus on enhancing returns to shareholders. "I assumed the role of the interim Chairman for stability and continuity so that there is no vacuum. This will be for a short time. A new permanent leadership will be in place," he said while addressing managing directors and senior leaders of Tata companies at the Bombay House. In...

Aditya Birla Group Chairman Kumar Mangalam Birla Appointed Chairman of IIM-A

23Oct By NitishNo Comments

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Aditya Birla Group Chairman Kumar Mangalam Birla Appointed Chairman of IIM-A

One of India's leading businessman Kumar Mangalam Birla has been appointed the new Chairman of the Indian Institute of Management-Ahmedabad (IIM-A) by HRD Ministry. The HRD committee also shortlisted the names of Deepak Parekh, Chairman of Housing Development Finance Corporation; R. Seshasayee of Infosys and Pawan Munjal, the CMD of Hero Motocorp. The 49-year-old Chairman of the $41 billion industrial conglomerate Aditya Birla Group is the final choice from HRD ministry. The premier B-school in India has been without a regular Chairman since January when A.M. Naik, the CMD of Larsen & Toubro, quit citing "availability issue due to work". Though he has no formal authority, the Chairperson can set the agenda by guiding discussions and influencing the direction of the institute. ...