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Coca-cola Cheers New President
With changing consumer preferences globally, as well as in India, Coca-Cola is now attempting to further strengthen its portfolio outside its core carbonated beverages
Photo Credit : Tarun Gupta
Amid the sluggish growth and upcoming summer season which accounts for 40 per cent of the soft drink annual sale, Coca-Cola has changed the top management replacing the current president Venkatesh Kinni by Thirumalai Krishnakumar. The new president will also take care of the South West Asia business unit along with the Indian market. T. Krishnakumar is currently the CEO and South West Asia regional director of Hindustan CocaCola Beverages, the largest bottling arm of Coke for the region. With changing consumer preferences globally, as well as in India, Coca-Cola is now attempting to further strengthen its portfolio outside its core carbonated beverages.
Eric Olsen, Chief Executive Officer of Switzerland-based LafargeHolcim, stepped down following an internal investigation into the company’s activities in Syria.
The company is accused of indirectly financing armed groups in Syria to keep one of its cement plants operational.
LafargeHolcim is a manufacturer of building materials (primarily cement, aggregates and concrete) which claims to be the largest in the world, with a presence in 90 countries and 115,000 employees. Lafarge and Holcim merged in 2015.
Expect The Expected
Azim Premji has been re-appointed as the Chief Managing Director and Chairman by the Wipro board for two more years. Premji has been the nucleus force of the organisation since mid-1960s and has turned it into India’s third biggest software services exporter. The Wipro board has also appointed Premji’s son Rishad Premji who was earlier the company’s chief strategy officer to its board .
Acknowledging the numerous successful product launches, Google paid nearly $199.7 million to its 44-year-old CEO SUNDAR PICHAI in compensation last year. This is double of what he got in 2015. Under Pichai, Google has registered a boost in sale from its core advertising and YouTube business while moving ahead in hardware and cloud computing. Last year, Google came up with a range of smart devices like smartphones, router and a voice controlled smart speaker.
The Fund Feat
Colin Haung, an ex-Google engineer, has raised more than $100 million in 21 months with his fast growing start-up Pinduoduo(PDD). The shopping site which has a social media component is designed to give shoppers an experience of spending a day at the mall with friends. One gets to check products, share ideas about what one likes, get feedback from people one trusts and also gossip a little. Haung believes that PDD has the potential to revolutionise e-commerce.
Tata group gets it first woman(outside the family) chairperson with Renuka Ramnath taking over as the new chairperson of Tata Communication. Ramnath, founder of private equity firm ‘Multiples’ succeeded Subodh Bhargava whose term at Tata Communications ended last month. She joined the company’s board as an independent director in 2014.
SanDisk co-founder Sanjay Mehrotra has been named as its CEO by chipmaker Micron Technology Inc. Mehrotra will replace Mark Durcan who announced his retirement in February. Mehrotra is to take charge from May after which Durcan will serve as an advisor to the company until early August.
Leadind The Law Lane
Mukulita Vijayawargiya took charge as the whole time member of Insolvency and Bankruptcy Board of India (IBBI)last month.
She will look after Administrative Law Wing of IBBI along with various other things like IT, Limited Insolvency Examination, National Insolvency Examinations, Finance & Accounts and communication.
She has been a member of the Bankruptcy Law Reform Committee.