In a bid to strengthen its leadership, IT firm Mindtree has hired two senior level executives: Mahesh Pillai to head its hi-tech industry vertical and Mark Wilsdon to lead its sales for Europe. News of similar developments came from drug maker Cipla Ltd, which, in a bid to establish a direct presence in all overseas market has put in place a top management team. The team comprises MD and global chief executive officer Subhanu Saxena, new chief financial officer (global) Rajesh Garg, head of international business Christos Kartalis, the newly posted heads of the US and European businesses, Frank Pieters and Tim Crew, apart from others.
On the other hand, news of a new resignation came in from Infosys. Stephen Pratt, the highest-paid executive at Infosys Ltd, has resigned from the IT company. This marks the fourth top exit at the Bangalore-based firm in the last five months amid a massive organizational shake-up being undertaken by chairman and co-founder N.R. Narayana Murthy.
Wal-Mart is in news for a not-so-good reason again. A Wall Street Journal report pointed out safety problems in Wal-Mart in Bangladesh. It mentioned Wal-Mart Stores Inc. as saying that most of the factories that failed the audit were able to correct problems or are doing so. According to the report, the company said it has stopped doing business with two factories, and one had to be closed. Mint reported that Yahoo! Inc. was accused in a lawsuit of intercepting emails sent to users of its mail service and using personal information to profit from related advertisements. The plaintiff seeks damages of $5,000 for each person whose privacy was allegedly invaded.
A report that came over the week indicates that TCS has taken an important step to engage with young talent. In a bid to make itself more relevant to the current generation of recruits, Tata Consultancy Services has been digitising its campus hiring process. TCS has tied up with over 450 institutes, from where students can do everything from applying to getting a joining letter through TCS' online recruitment portal NextStep, ET reported.
Findings of a poll, released during the week indicated that dearth of industry exposure or functional experience poses a major roadblock for Indian management graduates. The latest findings of an annual poll of new business school alumni, conducted each September by the Graduate Management Admission Council (GMAC), suggest that these two factors played an important role in the case of management graduates who did not find jobs in 2013.
An ET report reveals that the continuous slowdown in the economy has led to closure of 106 forging units out of 600 across the country in last one and half years, rendering thousands of people jobless, according to an assessment by industry body AIFI.