Weekly Round-up (June 2 - June 6): News you cannot miss
This week was marked by a few more key exits from Infosys following the resignation of President BG Srinivas. Prasad Thrikutam, an Infosys senior executive was taken on board by Dell on the day he announced his decision of ending his near two decade engagement with the Bangalore-based software company. Two more senior-level executives of Infosys are likely to leave the IT major in a development that will further shrink the company’s dwindling management bandwidth. According to sources, two senior vice presidents – Ravi Kumar, segment head (insurance, cards and payments) and Rajesh Krishnamurthy, segment head (energy, communications (global) and Europe service) – have put in their papers and the acceptance is expected to happen soon.
The 2014 Gender-GEDI (Global Entrepreneurship and Development Index) survey revealed that three quarters of the 30 countries surveyed do not have “the most fundamental conditions required for female entrepreneurs to prosper”. While on a positive side the city council of Seattle this week unanimously approved a $15 per hour minimum wage throughout the city, the highest in the US.
Employment opportunities also go up as Sundaram Business Services (SBS), the BPO arm of Sundaram Finance, said it will hire over 100 accounting professionals at its Chennai facility within 6-9 months. Over 100 accounting professionals, especially ICWA Inter qualified, will be hired to service the overseas customer base. In addition, the world’s fifth largest audit and accounting firm Grant Thornton would hire at least 3,000 people to make Bangalore its tax and IT support hub for its global clients in the next five years.
On the movements and appointments front, consulting, technology and outsourcing services provider Capgemini has appointed BL Narayan as chief human resources officer. Micromax Informatics Ltd, India’s second largest smartphone maker, named former chief executive of Bharti Airtel Ltd Sanjay Kapoor as chairman of its board. Private life insurer Tata AIA Life appointed Amitabh Verma as its Chief Operating Officer (COO). The Telangana government appointed D. Prabhakar Rao as the Chairman and Managing Director of Telangana Generation Corporation Limited (TGENCO). Journalist Shekhar Gupta has been appointed vice-chairman and editor-in-chief at India Today Group after resigning from The Indian Express newspaper. Last but not the least, Vishpala Reddy who was the Director-Human Resources at American Express Banking Corp. has taken over as the Head HR.