This week saw immense excitement on a national level with the election results being declared last week and the new government promising a bright future to the country. It was also marked by some movements and leadership crisis in the public sector. On one hand while Murali Srinivasan took over as General Manager at Indian Oil’s Kerala State Office, on the other hand the Indian Oil Corporation still has to wait for the appointment of a new Chairman as a lot of other key PSU appointments have also been delayed. In addition to this, Coal India seems to be losing its top leader, the Chairman and Managing Director, S Narsing Rao as he may become principal secretary to K Chandrasekhara Rao, who will be the first Chief Minister of the newly created state of Telangana. Also, N K Verma is named the new ONGC Videsh MD.
Unhappy with the P J Nayak Committee panel report suggesting privatization of public sector banks, five bank employees unions decided to stage nationwide demonstrations. Apart from this dissatisfaction, news came from across the borders as the US computer giant Hewlett-Packard announced it is cutting an additional 11,000 to 16,000 jobs as part of its restructuring plan. Another interesting report came out from a TimesJobs.com survey that revealed that increasing cost of living has led employees to re-evaluate priorities on how they are compensated for their work. Most employees, across generations, prefer a higher ‘in-hand’ pay out compared to other components of the salary.
Chandra Shekhar Verma, chairman of Steel Authority of India Limited (SAIL), has been adjudged ‘CEO of the Year’ at the 2014 Platts Global Metals Awards. Global technology services company Mindtree has appointed Manisha Girotra, India CEO of a leading global independent investment bank, to its board of directors. Narendra Kumar Verma was selected to head ONGC Videsh Ltd, India’s flagship overseas oil and gas assets acquisition firm. Nishchae Suri, Head People & Change Partner - Management Consulting, KPMG has taken over as the new President of NHRDN’s Delhi & NCR Chapter.