Kenneth Lay resigns from Enron board
Houston: Former Enron chairman Kenneth Lay has resigned from Enron's board of directors.
Lay was to have testified before the Senate panel on 4 February on what he knew of Enron's sudden bankruptcy but later refused.

A Senate panel had decided to subpoena Lay to force him to testify on the collapse of the scandal-tainted energy giant.
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Andersen hires Volcker
New York: Accounting firm Andersen has hired Paul Volcker, former chairman of Federal Bank to restore its battered credibility.

The accounting firm has faced severe criticism in recent weeks regarding its role in the Enron scam.

Volcker will chair an independent oversight board that will review policies and procedures within the firm.

The oversight board, funded by Andersen, will also have the authority to mandate changes in the accounting firms practices.
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Premal Parekh joins Ernst&Young
Mumbai: JM Morgan Stanley's head of mergers and acquisitions, Premal Parekh, has quit to join Ernst & Young as head of its corporate finance and advisory business in Mumbai.

Prior to joining JM Morgan Stanley, Parekh was an executive director at Coopers & Lybrand (now PricewaterhouseCoopers). At JM, Parekh was involved in a number of high profile M&A deals, the most recent of them being the merger of Birla-AT&T-Tata and BPL Communications and the sale of 10 per cent equity in Larsen & Toubro by the Ambanis to the AV Birla Group.
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Pepsi appoints Jeswant Nair as HR chief
Ahmedabad: PepsiCo Beverages International has appointed Jeswant Nair as the new head of human resources for the South Asia business unit.

Nair will look after the entire staffing, recruitment, compensation, training and industrial relations covering PepsiCo's operations in India, Sri Lanka, Bangladesh, Nepal and Bhutan.

Pepsi has 46 bottling plants spread across the business unit, and has built an extensive sales and distribution system.

Nair joins Pepsi from StanChart Grindlays Bank, where he was regional head of HR (India & Nepal).
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Bajaj to co-chair CII-WEF India Advisory Council
New Delhi: Bajaj Auto managing director Rahul Bajaj will co-chair the India Advisory Council, a joint initiative of the Confederation of Indian Industry and the World Economic Forum.

The council, constituted by CII and WEF in a meeting held in New York, would look into developments in the country over the past five years to identify priority areas of work and recommend policy issues at the highest level and work for providing a framework for consultation and serve as an advisory board to CII and WEF.
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