Weekly Round-up (May 12 - May 16): News you cannot miss
This week was marked by a lot of significant movements and talent acquisitions. Bharti Airtel named Srikanth Karra as its new director for human resources for India and South Asia region. Sunil Chandiramani, National Director of global consultant EY's advisory business, has resigned to build his own consulting practice in technology and services, both for local and overseas clients. TNT Express has appointed Stephen Badger (Badge) as the Managing Director for India. VRV Sriprasad, one of the key persons behind establishing the Bharat Benz brand in India is shifting to Volvo's India subsidiary as the managing director of the company. Samsung India country head for mobile phones and digital imaging Vineet Taneja resigned.
The other important news came from Nokia as nearly 5,000 of the 6,600 permanent employees of handset manufacturer Nokia plant at Sriperumbudur opted for the Voluntary Retirement Scheme (VRS) that was announced by the company last month. Some respite came to the automobile strike trend that has been on for a while as Bajaj Auto employees’ union postponed its proposed strike after considering suggestions of Shramik Ekta Mahasangh, the umbrella organisation of trade unions in the region.
Last but not the least, two important studies came out this week. One was about a majority of CEOs being insiders. A vast majority, or 70 per cent, of CEO turnovers at the world’s largest 2,500 public companies in 2013 were planned events, as opposed to forced turnovers or the result of mergers, according to a new study. About 76 per cent of incoming CEOs were ‘insiders’ who were promoted from within the company, said the newly released 2013 Chief Executive Study from Strategy & (formerly Booz & Company). Another one was the study by the International Renewable Energy Agency (IRENA) which said there has been a steady growth in the renewable energy jobs worldwide which expanded from 5.7 million in 2012, underlining the important role that renewables continue to play in employment creation and growth in the global economy.