Dinesh Dalmia steps down
Chennai: Dinesh Dalmia is stepping down as managing director of DSQ Software, as part of the company's plans to reorganise and professionalise its management. He will continue as a board member while Arun Tolani, at present heading the US operations of the company, will take over as the chief executive officer. Mr Tolani is expected to assume office on 17 January.

Mr Dalmia said the plan is to increase the economic value of the company. He will now focus on group companies.

DSQ Software had successfully made a private placement of 120 million equity shares of Rs 10 each of the company at a price of Rs 275 (against a market price of Rs 900 per share) with select financial institutions as a result of which Mr Dalmia’s shareholding in the company came down to 22 per cent from 40 per cent. The financial institutions hold 33 per cent and the balance is with the public.
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Nayak is UTI Bank CMD
Mumbai: P.J. Nayak has taken over as chairman and managing director of UTI Bank. Mr Nayak was executive trustee of Unit Trust of India before his new assignment. He will have a five-year term of office. He fills the vacancy created by the retirement of S. Gupta.
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Singhanias quit Raymond Synthetics board
Mumbai: Vijaypat Singhania and Gautam Singhania have resigned from the board of Raymond Synthetics following its acquisition by Silvassa Yarn and Investments, a business associate of Reliance Industries.
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New chairman for Sulzer
Zurich: Ailing Swiss technology company Sulzer is nominating Ueli Roost, who helped nurse ceramic company Keramik Laufen into health, as its new chairman. Mr Roost will replace Pierre Borgeaud.
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