Weekly Round-up (Apr28-May2): News you cannot miss
This week saw a new major development in the Maruti Suzuki Union Standoff. Maruti Suzuki India Ltd, has stripped three chief operating officers (COOs) of their executive powers, including S.Y. Siddiqui, the COO in charge of human resources, legal affairs, finance, administration, and information technology. The other two are COO (production) M.M. Singh, and COO (supply chain) S. Maitra. In their new roles, the three officials will be “chief mentors”. Also, this week came as a relief to Bajaj Auto, as its employees union deferred the proposed strike by two weeks saying that workers have decided to give more time to the management to consider their charter of demands.
The Pension Fund Regulatory and Development Authority (PFRDA) on Thursday relaxed rules to allow employees taking up government jobs after 60 years of age to enrol with the National Pension System (NPS). Ahead of the twin launches of its Bolt hatchback and Zest compact sedan, Tata Motors is going on a hiring mode to beef up sales, marketing and service networks as it bets big on the new cars to recoup lost market share. BPO major Aegis inaugurated a new centre in Colombo, Sri Lanka, which will provide employment to 1,000 people in the next one year. Infosys Executive Chairman N R Narayana Murthy was presented with the 2014 "Canada India Foundation Chanchalani Global Indian Award" here for his remarkable vision and leadership in the IT sector.
The board of Volvo India Private Limited has announced the appointment of Kamal Bali as Managing Director, with immediate effect. Liquor firm United Spirits Ltd (USL) on 30th April said its Board has appointed Anand Kripalu as the Chief Executive Officer of the company with effect from May 1. After Satya Nadella, Manipal University is celebrating another alumni's rise to the global boardroom, Rajeev Suri, who has been appointed as the CEO of Finnish firm Nokia. Both Nadella and Suri are graduates in Electronics and Communications at the Manipal Institute of Technology (MIT), Manipal University. Alan Mulally, the man who transformed Ford Motor Co. from a dysfunctional money-loser to a thriving company, will retire July 1 and be replaced by Mark Fields, the current chief operating officer.