News: Weekly roundup (April 28-May 4): News you cannot miss


Weekly roundup (April 28-May 4): News you cannot miss

Gary Toomey, a former chief financial officer (CFO) of Qantas Airways Ltd, is tipped to be the next chief executive officer (CEO) at Jet Airways (India) Ltd, according to a report in Mint. Currently, Greek-American Nikos Kardassis is at the helm of India’s second largest airline by passengers carried. The change at the top comes at a time when Etihad Airways of the UAE on agreed to buy a 24 per cent stake in Jet Airways for $379 million.

Gary Toomey, a former chief financial officer (CFO) of Qantas Airways Ltd, is tipped to be the next chief executive officer (CEO) at Jet Airways (India) Ltd, according to a report in Mint. Currently, Greek-American Nikos Kardassis is at the helm of India’s second largest airline by passengers carried. The change at the top comes at a time when Etihad Airways of the UAE on agreed to buy a 24 per cent stake in Jet Airways for $379 million.

Indian managers have more self-confidence than their Chinese counterparts, says a recent report. "About 41 per cent of leaders in India are confident from the start itself. Overall, 81 per cent of leaders in India and 63 per cent of leaders in China felt confident to lead within the first six months," according to talent management expert DDI's report titled 'Finding the Global First Rung Research'.

More than a third of employees spend an hour or more on Facebook, Twitter and other social media sites during work hours. They don't consider this as a luxury but a right, a new study has found. Virtual office space company Intelligent Office surveyed more than 1,000 employees in the US and Canada and found that social media needs are becoming part of an overall trend among employees, who now want to have a say in the technology they use, according to the PTI report.

About 88 per cent of B-school students prefer employment in public sector undertakings and central government, according to an ASSOCHAM survey. Career stability seems to be the main factor behind the trend, PTI said. PTI reported that the ASSOCHAM survey 'PSUs or Central Government job seekers' was conducted in February and March this year in Delhi-NCR, Mumbai, Ahemdabad, Cochin, Bangalore, Hyderabad, Kolkata, Chennai, Indore, Patna, Pune, Chandigarh and Dehradun.

Information technology firms were guarded in their response to an Economic Times report last week on how IT workers were slipping into depression. They felt that while the stress was a common factor in every industry, it drew greater attention in the IT sector because of its growth, status and affluence.

A survey conducted among 2200 expat professionals by the Hindu Business Line revealed that India is losing its attractiveness among expats as a workplace owing recent law and order incidents in the country and attacks on expats. 72 percent of the respondents who were keen work in India in the first half of 2012 are now shifting their attention to other countries, such as Philippines, Gulf/Middle East, Hong Kong and Singapore.

An Economic Times article reports that Mahindra Satyam has appointed Niraj Vedwa, an experienced IT industry professional with over 26 years of experience as the global head of banking, payments, and cards. Vedwa has over 16 years of experience in BFSI and he will be responsible for growing and supporting existing and new businesses of the company.

The Times of India reported that after over nine months of negotiations over wage hikes, management and union at Hero MotoCorp’s Gurgaon plant have reached a settlement, marking an end to the dispute. The dispute erupted when workers demanded increment of Rs. 18000 as a three year hike while the management was offering Rs. 7200.

A Business Standard report highlights that, among the increasing incidents of job fraud cases, the automobile sector is the worst hit. All the major automobile players, including Tata Motors, Mahindra & Mahindra (M&M) and Bajaj Auto have reported a rise in these incidents.

Essar Group has won the 2013 LearningElite Award by the Chief Learning Officer magazine based on the scope and value of learning and development services at the company. The CLO LearningElite is a global peer-based benchmarking initiative that recognises excellence in five key areas- learning strategy, learning impact, leadership commitment, learning execution, and business performance results.

According to a Hindustan Times report, Asha Patel, an Indian-origin woman in the UK is one of the 25 people shortlisted for the post of Western Australia taste master. The Australian state tourism website has described this job as one of the‘best jobs in the world’. Around 600,000 applications were received for six positions.

According to a CNN Money report Yahoo CEO Marissa Mayer received a pay package of nearly $6 million for her first year in office. According to this report Mayer took home a cash bonus of $ 1.1 million and got $4.3 million in stock. This is in addition to her salary which is around half a million dollars.

Livemint reports that Tata Sons chairman Cyrus Mistry has set up a new group executive council (GEC) replacing the already existing group corporate centre (GCC) and group executive office (GEO). GEC will be headed by Mistry and its initial members are ex-BSE chief Madhu Kannan, N.S. Rajan from Ernst & Young and Mukund Govind Rajan. Kannan will head business development and public affairs while Govind Rajan will oversee brand, communication, ethics & CSR. N.S. Rajan will take charge as the new group chief human resource officer on May 9.

According to an Economic Times report, UK based HR software and service provider NorthgateArinso is planning to increase its workforce in India by 25 per cent. The ET report quotes NGA vice president-Global Operations of Delivery Centres Monica Luzon as saying, “We intend to grow our workforce by 25 per cent in Hyderabad as well as Kochi locations during 2013-14”.

An Economic Times article reports that Yahoo has expanded paid maternity, paternity benefits for its employees. Under the new policy new mothers and fathers will get up to 8 weeks of fully-paid leave. New mothers will be entitled to an additional 8 weeks of paid leave. Such employees will also get up to $500 for child care. Yahoo’s old parental leave policy had no provision of paid leave to fathers and total amount of paid maternity leaves was up to six months.

Tata Sons has appointed N.S. Rajan, partner and global leader (People and Organisation) in Ernst & Young, as its Chief Human Resources Officer. Rajan will succeed present Group HR Head Satish Pradhan on May 9, 2013, and report to Tata Sons Chairman Cyrus P. Mistry. He will also be a member of the group executive council.

Infrastructure financier IDFC, which reported 37 per cent hike in its net profit at Rs 423 crore for the March quarter, said veteran banker Deepak Parekh has stepped down as its Chairman and will be replaced by the current Managing Director and Chief Executive Rajiv Lall, a report in ET said.

Mukesh Ambani , Chairman and CEO of Reliance Industries ltd and Lakshmi Niwas Mittal, Chairman and CEO of Arcelor Mittal are the two Indian industrialists among 16 Indians who feature in the list of 500 most powerful people on the planet released by the Foreign Policy magazine. The Prime Minister of India Manmohan Singh and Congress president Sonia Gandhi have also found a place in the prestigious list.

European corporations are making a beeline to establish engineering research outfits in India, mirroring a practice pioneered by American companies such as Texas Instruments and General Electric more than a decade ago.

Monster India, one of the leading online career and recruitment solutions providers in the country, in association with (managed by Wage Indicator Foundation) announced the launch of the ‘Monster Salary Index,’ an exclusive industry benchmark in collaboration with prestigious IIM-A as research partner. The Monster Salary Index provides jobseekers complete information on salaries, labor market data and relevant content concerning labor law and careers.

The International Monetary Fund (IMF) pegged the country's gross domestic product growth at 5.8 per cent during the current financial year, against an estimated low of five per cent in 2012-13, and predicted it to be as high as 6.3 per cent in 2014-15. The IMF’s growth forecast is lower than not only the Economic Survey’s projection of 6.1-6.7 per cent, but also that of its multi-lateral agency peer —World Bank — at 6.1 per cent for 2013-14.

Norwegian telecom major Telenor’s Indian arm Uninor announced the appointment of Yogesh Malik as the firm's Chief Executive Officer (CEO). The company added that Managing Director Sigve Brekke will step down as MD, but will continue to be responsible for all of Telenor affairs in India as the Head of Telenor Group's Asian operations, according to a report in PTI.

The key to America’s future success lies in helping women achieve as much as their male counterparts, billionaire investor Warren Buffett said in an essay that echoes a recent debate about gender roles in Corporate America. This was reported by Reuters.

KPMG India has announced the appointment of Nishchae Suri as Partner and Head of People and Change practice. Nishchae Suri joins KPMG from Mercer Consulting, where he was the Managing Director and CEO for their India operations.

The XLRI School of Business Management and Human Resources and Weatherhead School of Management at Case Western Reserve University in the US have come together to offer an innovative programme on Positive Organization Development and Change (MPOD) in India, according to a report in the Times of India.

Indian IT firms have something to cheer for. A new study by an independent US think-tank has now made the argument that H-1B visas do not lead to outsourcing of jobs or shrink the job market for Americans, a Hindustan Times report said.

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Topics: C-Suite, #Updates

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