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Wipro CEO Abidali Z Neemuchwala Steps down

31Jan By AnkitaNo Comments

News

Wipro CEO Abidali Z Neemuchwala Steps down

In the latest development, Wipro CEO and MD Abidali Z Neemuchwala decided to step down. The firm's shares dropped 2.28 percent to Rs 235.30 on the BSE. On the NSE, it declined 2.28 percent to Rs 235.20. Wipro early on Friday announced that Neemuchwala has decided to step down due to family commitments. He will continue to hold the office of the CEO and Managing Director, until a successor is appointed for a smooth transition and to ensure that business continues as usual, the company said in a BSE filing. "We thank Neemuchwala for his leadership and his contributions to the Wipro. Over the last four years, he helped build a strong execution mindset, drove key acquisitions and scaled our Digital business globally," Wipro Chairman Rishad Premji said. Neemuchwala said the com...

Rahul Bajaj Step down, Become Non-Executive Chairman of Bajaj Auto

30Jan By AdityaNo Comments

BUSINESS

Rahul Bajaj Step down, Become Non-Executive Chairman of Bajaj Auto

Bajaj Auto's long serving Chairman Rahul Bajaj will step down from executive role to become a non-executive director while continuing to hold his current position, the company said on Thursday. Bajaj, who has been a director of the company since April 1, 1970, was last reappointed by the board for a five-year term with effect from April 1, 2015, and his term as executive chairman is expiring on March 31, 2020, the company said in a regulatory filing. "Due to certain commitments and other pre-occupation, Rahul Bajaj has decided not to continue as a whole-time director of the company after the expiry of his current term on March 31, 2020," it added. Bajaj Auto further said its board of directors in a meeting held on Thursday approved his appointment as non-executive director with t...

Netflix India Content Executive Swati Shetty Quits

14Dec By Gauri SinghNo Comments

News

Netflix India Content Executive Swati Shetty Quits

Netflix's director for international originals and acquisitions Swati Shetty has reportedly resigned from her position. She had been one of Netflix's earliest hires in India and had joined the company in August 2016. She was based in Los Angeles and during her tenure, Netflix expanded its slate of original films including titles like Love Per Square Foot, LustStories and more recently Rajma Chawal. It was last month that the video streaming platform announced a slate of eight new original films, including a film on the Indian startup ecosystem called Upstarts and three films produced by Bollywood actors. These were as follows: Firebrand (a Marathi film produced by Bollywood actor Priyanka Chopra)Bulbul (a Hindi period film produced by actor Anushka Sharma and KarneshSharma’s Clea...

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

18Oct By Gauri SinghNo Comments

News

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...

Blizzard co-founder Mike Morhaime is Stepping Down

4Oct By Gauri SinghNo Comments

News

Blizzard co-founder Mike Morhaime is Stepping Down

The popular gaming company Bizzard that created game titles like World of Warcraft, Overwatch, and Hearthstone is getting new leadership and its co-founder Mike Morhaime is stepping down. After leading the company for 27 long years, Blizzard President Mike Morhaime is stepping down from the company he co-founded back in 1991 when it was called Silicon and Synapse. J. Allen Brack, previously Senior Vice President and Executive Producer on WoW, will replace Morhaime and now lead the company. Brack has been working with Blizzard since 2006. In a letter about the transition, Brack also mentioned that Blizzard co-founder (and the original lead designer of WoW) Allen Adham will be joining the company’s executive team to “oversee development of several new games.” Adham left Blizzard in 2004...

Kleiner’s Mary Meeker is Stepping Down to Start her Own Venture Firm

15Sep By Gauri SinghNo Comments

News

Kleiner’s Mary Meeker is Stepping Down to Start her Own Venture Firm

Tech analyst Mary Meeker is leaving venture capital firm Kleiner Perkins Caufield & Byers LLC. The move is being taken by her for the purpose of starting her own firm. It has been reported that Meeker was creating a separate firm with her colleagues Mood Rowghani, Noah Knauf and Juliet de Baubigy. However, the final date of her leaving the company has not yet been decided. "The changes in both areas have led to less overlap between venture and growth and creating two separate firms with different people and operations now makes sense," Kleiner spokeswoman Katie Hutchison said. Meeker first became famous as Queen of the Net in the late 1990s, after a report she wrote for Morgan Stanley predicted the power and shape of the then still exotic World Wide Web. She joined Kleiner in 2...