UTI AMC appoints Imtaiyazur Rahman as Acting CEO

Aug 14, 2018 0

Mumbai– UTI AMC on Tuesday said that its Board has appointed Imtaiyazur Rahman as the company’s Acting CEO.

According to the company, the Board of UTI AMC appointed Rahman, Group President and Chief Finance Officer, as the Acting CEO with effect from August 14, 2018.

He will look after the day to day operations of the company and work closely with the rest of the senior leadership team.

“The Board is pleased to appoint Imtaiyazur Rahman as Acting CEO of UTI AMC. He has been with UTI for a long time and has performed a good job in various functional areas,” D.K. Mehrotra, Director, UTI AMC, was quoted as saying in a statement.

“He brings with him a rich experience and maturity which will help bring the team together and take UTI forward.” (IANS)

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Sukthankar’s successor to be named by month-end: HDFC Bank chief

Aug 13, 2018 0

Mumbai– Annoucing that HDFC Bank Deputy Managing Director Paresh Sukthankar’s decision to resign was a personal one, Bank Chief Executive and MD Aditya Puri on Monday said a successor to Sukhtankar will be in place by month-end.

Addressing analysts via a conference call, Puri also revealed that Sukthankar was among the contenders for the CEO’s position in HDFC Bank, and reassured investors that his departure would not impact the bank’s future strategy.

“I want to make it clear and distinguish between the two. It has come as a shock, it is a loss and I am sad. However, at the same time, life goes on,” Puri said.

“This has got nothing to do with who will be the successor. These are his (Sukhtankar) personal reasons. He requested that he be allowed to leave,” he added.

In a regulatory filing last week, the bank announced Sukthankar’s resignation without citing any reasons.

“We hereby inform you that Paresh Sukthankar has tendered his resignation as Deputy Managing Director of the bank, to be effective 90 days from the close of business hours of today (Friday),” the filing said.

Noting that the bank’s board will decide on a replacement for Sukthankar in the next 10 to 15 days, Puri said: “There will no longer be a deputy MD’s post at HDFC Bank.”

He also noted that HDFC Bank is well capitalised and not dependent on any one individual.

“We have a split between risk and business and no one person can take a decision,” the CEO said.

Sukthankar currently oversees the bank’s credit, finance and human resources functions.

Last month, HDFC Bank reported a 18.2 per cent increase in its net profit at Rs 4,601.4 crore for the first quarter ending June, as compared to Rs 3,893.84 crore in the same period a year ago.

The HDFC Bank stock closed on Monday at Rs 2,090.65 a share, down Rs 24.35, or by 1.15 per cent, on its previous close on the BSE. (IANS)

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Nikhil Nanda appointed Escorts Chairman

Aug 7, 2018 0

New Delhi– The leadership baton of Escorts Ltd has been passed on to Nikhil Nanda to succeed his father and well-known industrialist Rajan Nanda.

On Tuesday, the company announced that the Board of Directors of the engineering conglomerate appointed Nikhil Nanda as the Chairman and Managing Director of the Escorts Group.

Rajan Nanda died on Sunday, after a brief illness, at the age of 76. He had joined Escorts in 1965 when he was 23, and in 1994, he took over as the Chairman of Escorts Group, when his father and the founder Chairman, H.P. Nanda, stepped down after a long 50-year innings.

It was under Rajan’s stewardship that new technologies were introduced in various Escorts’ businesses to spearhead the growth to the next level.

Currently, the group is moving ahead in the high growth areas of agri-machinery, construction equipment and railway equipment.

Nanda was also instrumental in setting up the state-of-the-art R&D facility for the company at Faridabad.

Known as a committed philanthropist, he was also an active member of several apex trade and industry bodies. As a member of the CII National Council, he had served as Chairman of its Agriculture Committee.

Nikhil is a third-generation entrepreneur. He was appointed as Managing Director of Escorts in 2013 and he has been a key member of the Board since 1997.

He is an alumnus of Wharton Business School in the US, with majors in management and marketing. (IANS)

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Mobiistar appoints new VP for sales and operations in India

Jul 27, 2018 0

New Delhi– Vietnam-based smartphone maker Mobiistar on Friday announced the appointment of Ajitabh Jerath as Vice President for sales and operations (South and West) in India.

With the brand venturing into the offline space, Jerath’s role will be to focus on strategic business planning and customer relationship management, the company said in a statement.

“With our offline expansion and strong focus on South and West, we required an able and experienced person. Ajitabh will help us on our journey to becoming one of the top 5 smartphone brands in the affordable segment in the country by the end of the year,” said Carl Ngo, CEO and Co-founder, Mobiistar India and Global.

Jerath has earlier worked with Reliance, Tata Docomo, HCL, Nokia and Gionee.

“The smartphone market in India is one of the most dynamic in the world, I am excited to take on the challenge of taking a new brand like Mobiistar to greater heights,” said Jerath.

Founded in 2009, Mobiistar in May debuted two affordable smartphones “XQ Dual” and “CQ” for Rs 7,999 and Rs 4,999, respectively, in India. The company also said it has opened 1,000 service outlets in the country. (IANS)

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Xiaomi ropes in former Lenovo-Motorola executive to lead TV business

Jul 23, 2018 0

New Delhi– Expanding its plans to make deeper inroads into the highly competitive Indian TV market, Xiaomi on Monday announced to appoint Eshwar Chandrasekaran, former head of online business, Lenovo-Motorola, to lead its Mi TV business in the country.

“Excited that Eshwar has joined @XiaomiIndia! He will be leading our #MiTV business,” Manu Jain, Vice President, Xiaomi, and Managing Director, Xiaomi India, tweeted.

“Eshwar was heading online sales for Lenovo+Motorola, prior to joining #Xiaomi,” Jain added.

Earlier in March, Xiaomi unveiled the “Mi TV 4A” series with 32-inch and 43-inch models, less than a month after it debuted in India with its 55-inch “Mi TV 4”.

“Mi LED TV 4A” (43-inch variant) was priced at Rs 22,999 while “Mi LED TV 4A” (32-inch variant) cost Rs 13,999.

“Both the variants feature the company’s own ‘PatchWall system’ that has been redesigned for India and brings together over 15 different content partners across 12 Indic languages, thus resulting in a rich library of video content ever integrated on a smart TV in India”, the company had said in a statement.

“Mi LED TV 4A” (32-inch) comes with HD display and the same custom-tuned set of speakers.

Earlier this month, Eros International announced its over-the-top entertainment platform Eros Now has entered into a strategic distribution partnership with Xiaomi for its smart Mi LED TVs.

Eros Now will be available within “Patchwall” on all Mi TVs in India, giving users access to over 11,000 Bollywood and regional language films, entertainment shows, music videos and originals. (IANS)

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Lenovo India appoints new CMO for Asia Pacific

Jun 11, 2018 0

New Delhi– Lenovo India on Monday appointed Bhaskar Choudhuri as the new Chief Marketing Officer (CMO) of the Asia Pacific region.

He was previously Lenovo India’s Head of Marketing and succeeds former regional CMO Nick Reynolds who has now been appointed the company’s global Head of Marketing for Digital, Web and Social Media.

Bhaskar is tasked with expanding the brand’s footprint in the Asia Pacific region and and driving sales for PCs, tablets and smart devices across diverse markets covering Japan, India, Hong Kong, Taiwan, Korea, Australia, New Zealand and Southeast Asia.

Prior to this appointment, he led the marketing team in India for the last five years, wherein he was responsible for the marketing strategy and aligning marketing to the overall business objectives.

Under his leadership, Lenovo India launched its smartphones in the market as well as many new initiatives were taken in the digital marketing space, the company said in a statement.

Bhaskar reports to Ken Wong, President of Lenovo Asia Pacific. (IANS)

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Rajen Vagadia appointed Country Manager of Qualcomm India

May 10, 2018 0

New Delhi– US-based semiconductor and telecommunications equipment maker Qualcomm Incorporated on Thursday announced the appointment of Rajen Vagadia as the Country Manager of Qualcomm India.

With the new designation, Vagadia will report directly to Jim Cathey, Senior Vice President and President of Asia Pacific and India.

“Rajen has been instrumental in contributing to this growth and I am confident as a Country Manager, he will charter a new path that will help the Qualcomm establish itself as a leader in mobile, Internet of Things (IoT) and 5G,” Cathey said in a statement.

Larry Paulson, Vice President and President, Qualcomm India, who has been managing Qualcomm India operations from 2016 will help Vagadia with the transition.

Vagadia has played an important role in the LTE growth in India, Qualcomm said.

He has experience in business development of IoT across the different verticals covering smart cities, healthcare, automotive, wearables, home automation and industrial automation. (IANS)

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Samba Moorthy appointed President of Epson India

Apr 5, 2018 0

New Delhi– Electronics giant Epson India on Thursday appointed Samba Moorthy as its new President. Moorthy replaces Toshiyuki Kasai, who is retiring as India President after six years at the helm.

“It is an honour to lead Epson India. I’ve been here for over 20 years and the most important thing is the structural progress that we are making — from a single product to multiple offerings. I’m sure the team would continue to excel in the performance,” Moorthy told IANS.

“We look to sustain and boost our growth momentum in the coming years. My focus will continue to be on generating value for our customers in everything we do while building Epson into a respected brand in India,” he added.

According to Kasai, Epson India has been growing exponentially and reached a turnover of nearly Rs 1,664 crore in FY 2017.

“Epson India is now poised for the leap to the next level. Samba is an inspiring leader with a clear vision and is the ideal person to lead and take Epson India forward, with an eye on the 2025 goals set by the company,” Kasai said.

Moorthy, who was until now Vice President, Sales and Marketing at the company, joined Epson India in 1996 and grew through the ranks to head the company in the country.

According to International Data Corporation (IDC), Epson secured the top spot in the Inkjet printer market (by volume and value) for the calendar year 2017 in India.

The company captured 42 per cent of the Inkjet market by volume and 54 per cent in value, while HP followed with a volume market share of 40 per cent and value share of 32 per cent.

Epson sold 705,656 inkjet printers in the calender year 2017 to lead the market. (IANS)

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Apple hires Google’s Artificial Intelligence chief

Apr 4, 2018 0

San Francisco– In a key development, Apple has hired John Giannandrea, Google’s Head of Search and Artificial Intelligence (AI), to lead the company’s Machine Learning (ML) and AI strategy.

Giannandrea, who took the role of Senior Vice President of Engineering at Google from Amit Singhal in early 2016, will report directly to Cook.

“Our technology must be infused with the values we all hold dear… John shares our commitment to privacy and our thoughtful approach as we make computers even smarter and more personal,” The New York Times quoted an email from Cook to his staff as saying.

Giannandrea joined Google in 2010 after the company acquired his startup Metaweb Technologies.

According to arstechnica.com, Apple needs strong talent to improve its AI and ML efforts which lag behind its competitors like Amazon and Google.

Apple has invested in Siri and HomeKit to compete with Google Home and Alexa-based smart home systems.

Apple last year added an AI chip called Neural Engine to the A11 Bionic for the iPhone 8, iPhone 8 Plus and iPhone X to work with the Image Signal Processor (ISP).

Apple has also posted several job openings for engineers at its different offices globally.

According to the data accumulated by Thinknum, the number of open positions that contain the term “Siri” has accelerated in recent weeks, with a current all-time high of 161 job listings. (IANS)

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ASUS appoints new India Regional Head

Apr 4, 2018 0

New Delhi– Taiwanese smartphone company ASUS on Wednesday appointed Leon Yu as the new Regional Head for India and South Asia.

Yu replaces Peter Chang who has moved to ASUS headquarters in Taiwan to head the Market Development Center for APAC, the company said in a statement.

Leon will be responsible for building ASUS’ brand and business in India, Sri Lanka, Bangladesh and Nepal.

“I’ve already begun engaging with our team across India and am eager to continue to build the incredible reputation ASUS has earned in India across product range, starting from smartphones, laptops and the ROG (gaming) series,” Yu said.

Prior to this, Yu was the Regional Director for ASUS Middle East for six years. (IANS)

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