McDonald's names its CEO as new board chairman, taps Kimberly-Clark exec as independent director
International Business News: Chris Kempczinski will become chairman of McDonald’s, succeeding Enrique Hernandez Jr. Jim Skinner, a previous CEO, also held the chairman position. K Key Points
Times Of IndiaMorgan Stanley Chairman James Gorman's compensation jumps 17% to $37 million in 2023
Morgan Stanley Executive Chairman James Gorman's compensation in his last year as CEO of the bank saw a 17 percent increase in 2023 to $37 million from $31.5 million in 2022. Key Points
mintWho is Thierry Delaporte, highest paid CEO in India? Know his salary
Thierry Delaporte is the highest paid CEO in India, with a whopping salary package. Here is all you need to know about the Wipro boss. Key Points
Hindustan TimesIT companies take pole position on CEO pay front in India
C Vijayakumar, managing director and CEO of HCL Technologies, Indias third-largest IT services company by market cap, was the eleventh-highest paid, taking home $3.46 million, or about Rs 28 crore, (he is based out of the US) in FY23. Key Points
Economic TimesThe big churn: More India Inc top bosses hitting exit button post Covid
As many as 110 managing directors or chief executives who were also on the boards of NSE-listed companies quit in the first 10 months of 2023, according to data compiled for ET by primeinfobase.com. Key Points
Economic Times/cloudfront-us-east-2.images.arcpublishing.com/reuters/KX6FGWZNTZK4FPK7UJZHF5H6QU.jpg)
'Boomerang' CEOs of major companies
Sam Altman reached an agreement with OpenAI to return as CEO on Wednesday, after a tumultuous few days following his ouster by the company's board. He joins a list of big name "boomerang" chief executives who have made comebacks at a later date. Key Points
ReutersBadr Mohammed Al Meer to take over as CEO of Qatar Airways
Akbar Al Baker, the CEO of Qatar Airways, is stepping down after leading the state-owned airline for over 20 years. The reason behind his retirement is not immediately clear. Badr al Meer will take over as CEO, and currently holds the position of chief operating officer of Hamad International Airport in Doha. Key Points
Economic TimesIt’s lonely at the top as CEOs reveal that being the final decision-maker has its ups – and its downs
CEOs often experience feelings of loneliness and isolation due to the pressures and responsibilities of their roles, according to a Harvard Business Review survey. The study found that 50% of CEOs reported feeling lonely, with 61% believing it hindered their performance. First-time CEOs were particularly susceptible to these feelings, with nearly 70% reporting negative effects on their performance. The role of a CEO requires making tough decisions and carrying the responsibility for the success or failure of the organization, which can lead to feelings of isolation and the need for a support system. Key Points
Economic TimesOla joins government-backed ONDC for food delivery services: Report
Ola has joined ONDC for food delivery services; testing feature within its app for a small number of users. Ola may appoint a CEO for its cab business, possibly an ex-Unilever executive. Ola Cabs saw its losses widen to INR 3,082 crore in 2021-22. Key Points
mintOla is likely bringing a CEO for cabs business
It is unclear whether the new CEO will oversee just the core cab hailing business or also ANI Technologies, the parent company. This move is unprecedented as Aggarwal has been the CEO of Ola since its inception, but he has recently shifted his focus to Ola Electric. Key Points
Economic Times
CEO-worker pay gap keeps widening
Amara Raja Batteries has topped the list of Indian Nifty 500 companies with the widest gap between CEO and median employee salaries, paying its CMD over ₹52 cr, 1,872 times the median employee salary. Small and mid-cap promoter-driven companies, such as Amber Enterprises and JK Paper and Balkrishna Ind, were also featured. The CEO pay hike across some firms was higher than that seen in employee remuneration. Key Points
Economic TimesAnother high-profile exit from Infosys: SVP Charles Salameh joins Sangoma Tech Corp as CEO
This trend of attrition at the top is not just limited to Infosys. Last November, IT company Birlasoft appointed Angan Guha as its CEO and MD. Guha was Wipro’s America 2 strategic market unit CEO. Key Points
Business TodayList of highest-paid CEOs in America who are of Indian origin
There are many Indians who have excelled in fields like computer technology, bio-tech, software engineering, etc. and risen to the zenith in the best companies. | World News Key Points
Hindustan TimesWorld's Top 10 Richest People List Updated: Elon Musk Beats Bernard Arnault to Top the List
Billionaires play an outsized role in shaping the global economy, politics, and philanthropy. Forbes puts the number of billionaires in the world at 2,640 in 2023. Key Points
Times of IndiaStocks in news: South Indian Bank, Coal India, HDFC Life, SAIL, Adani Green
South Indian Bank has finalised the candidates for the post of MD and CEO of the Bank. The lender will submit the application to the RBI seeking approval for the same. Key Points
Economic Times
Netizens welcome ‘Elona’, the new Twitter CEO with hilarious memes. Here are the best ones!
Twitter floods with memes, as Elon Musk announces on microblogging website that he has selected a new CEO for Twitter. Here are some of the best memes. Key Points
mint10 Bold Quotes by Elon Musk on Entrepreneurship and Technology
Elon Musk is an American business tycoon, engineer, and inventor. He is the co-founder and CEO of SpaceX, product architect and CEO of Tesla, Inc., and chairman of Neuralink. Key Points
Times of India10 Inspirational Quotes by Steve Jobs on Innovation and Creativity
Steven Paul Jobs was an American business tycoon, industrial designer, media proprietor, and investor. He was the co-founder, chairman, and CEO of Apple. Key Points
Times of IndiaCorner suite exits on the rise as India Inc pushes for growth
CEO exits surged 18% from 141 in CY 2021 to 166 in CY 2022. In 2023, for the first 3 months of the year, CEOs who left their posts stood at 43, according to data compiled by Primeinfobase. Key Points
Economic TimesIT firms see change of guard, senior level transitions amid macro uncertainties
Recently, TCS and Infosys have seen senior level exits. Infosys saw two president-level exits, with Ravi Kumar and Mohit Joshi leaving the company to join top tier IT firms Cognizant and Tech Mahindra, respectively. Key Points
mint
Boat elevates Vivek Gambhir as Chairman; co-founder Sameer Mehta named as CEO and MD
Boat said it has elevated CEO Vivek Gambhir to Chairman of the company. Boat co-founder Sameer Mehta will take on the role of CEO and Managing Director. Key Points
FinancialexpressTCS CEO Rajesh Gopinathan quits; K. Krithivasan named CEO Designate
Mr. Gopinathan will continue with the company till September 15, 2023. Key Points
The HinduCred CEO Kunal Shah reveals his salary, claims he earns Rs 15,000 per month
Cred CEO Kunal Shah revealed his salary while replying to a user on Instagram. Shah claims that he only earns Rs 15,000 per month as the company is not yet profitable. Key Points
India TodayWho is Mira Murati? Someone important at OpenAI but no, she is not Indian
Mira Murati, who held the position of interim CEO at OpenAI for just three days, is in the news for her contributions to the company and the development of ChatGPT. Although she is no longer the CEO, she is being discussed as another significant name in the tech world, potentially representing Indian origin. However, she is not of Indian origin. Key Points
India TodayAmazon to invest $15 billion more in India, says CEO Andy Jassy after meeting PM Modi
Ecommerce major Amazon on Saturday said it plans to invest $15 billion more in India, taking its total investment in the country to USD 26 billion, a top official of the company has said. After meeting Prime Minister Narendra Modi in the US, Amazon CEO Andy Jassy said the company has already invested USD 11 billion in India till date. Key Points
Economic Times
Google, Microsoft, IBM and 13 other technology companies headed by Indian-origin executives
Distinguished CEOs of Indian origin are at the helm of some of the globe's most impactful companies. Sundar Pichai, at the forefront of Google, steers advancements in search, artificial intelligence, and beyond. Satya Nadella's leadership at Microsoft has rejuvenated the company's trajectory, with a strong emphasis on cloud computing and services. Arvind Krishna guides IBM, concentrating on pioneering developments in hybrid cloud and artificial intelligence. Here, we spotlight 15 Indian-origin CEOs who are at the forefront of major tech corporations. Key Points
Times of IndiaUS banks, tech firms offer support for Israel victims, announce aid
As big U.S. corporations kicked off corporate earnings season this week, executives addressed the Israel-Hamas conflict and some companies launched fundraising efforts. Key Points
ReutersGoldman CEO and predecessor Blankfein talk careers as analysts compete
Goldman Sachs (GS.N) Chief Executive Officer David Solomon and his predecessor gave career advice to about 4,000 analysts as junior bankers pitched for grants to be given to charity on Tuesday. Key Points
ReutersDo you want to be the CEO of Microsoft? Satya Nadella reveals reaction to this life-altering question
Microsoft CEO, Satya Nadella, reflects in recent interview on stepping into his role after the departure of Steve Ballmer. His journey from surprise appointment to leading the tech giant to new heights demonstrates how resilience and adaptability can transform uncertainty into opportunities for growth. Key Points
India TodayAI a threat to humans? Here is what Sundar Pichai, Elon Musk, Bill Gates and other tech experts feel
Google CEO Sundar Pichai, in a recent interview, said that he doesn't fully understand Artificial Intelligence (AI) and called for a regulation on the technology so that it isn't misued. On the other hand, Twitter owner Elon Musk outrightly says that AI can be dangerous. Here is what some experts are saying about the potential dangers of AI. Key Points
India Today
Stretched timelines: What’s extending the duration of CEO & CXO searches?
Many seasoned pros are dropping off at the fag end of the notice period even after accepting an offer, said at least half a dozen leadership search companies. This is leaving companies, leadership consultants and even boards in a quandary as the time taken to fill a CEO/CXO vacancy - from the start of a search process till the person joins the new company - has extended more than ever before, said people linked to C-suite searches. Key Points
Economic TimesElon Musk confirms Linda Yaccarino is the new Twitter CEO, she is joining in 6 weeks
Elon Musk has confirmed that Linda Yaccarino is the new Twitter CEO who he has appointed. Musk further revealed that Yaccarino will primarily focus on business operations. Key Points
India TodayBinance gets new CEO amid US money laundering probe – Who is Richard Teng?
Changpeng Zhao, former CEO of Binance, admitted to money laundering and stepped down from his position. Richard Teng, the company's Global Head of Regional Markets, has been named the new CEO. Key Points
mintFrance's Atos appoints Yves Bernaert as new CEO
French IT firm Atos (ATOS.PA) said on Wednesday it appointed Yves Bernaert as its new chief executive officer, effective immediately. Key Points
ReutersTech CEO Pava LePere's murder suspect arrested
Tech CEO Pava LePere's murder suspect arrested after warning issued. LePere was found dead in her luxury apartment. | World News Key Points
Hindustan Times
Shoppers Stop promotes Kavindra Mishra as Executive Director and CEO
Venugopal G. Nair, the Managing Director and CEO of Shoppers Stop, has resigned from his position for personal reasons. The company praised Nair for his contributions in strengthening the business during the post-Covid era. Kavindra Mishra, the Chief Commercial Officer and CEO of Homestop, has been promoted as the new Executive Director & CEO of Shoppers Stop. Key Points
Economic TimesBengaluru double murder: 3 accused of stabbing firm's CEO, MD to death arrested
The accused, identified as Shabarish, Vinay Reddy and Santosh, had a rivalry with the CEO and the MD of the Bengaluru firm. They used to work in their previous company. Key Points
India TodayMusk names Linda Yaccarino as new Twitter CEO
Linda Yaccarino, the former head of advertising at NBCUniversal, will be taking over as Twitter CEO. To learn more, read the full story on The Hindu. Key Points
The HinduPaytm founder says AI will do a lot of humans’ work, company to use AI for fraud detection and customer care
Paytm will be using AI for various purposes, including fraud detection, customer care, onboarding, and so on. The company's founder and CEO, Vijay Shekhar Sharma, confirmed the same and said that a lot of human being's work will be done by AI. Key Points
India TodayIBM will replace 7800 jobs with AI, mostly back office and HR roles: Story in 5 points
IBM has around 26,000 workers. Therefore, nearly 7,800 jobs could be replaced by AI in the coming years. Key Points
India Today