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IHCL
appoints Bickson as MD
Mumbai: Indian Hotels Company Ltd (IHCL) has appointed
Raymond Bickson as managing director with effect from
July 19, 2003. his is for the first time in the history
of the Taj Group that an expatriate has been appointed
on the helm of affairs. Bickson, who is currently executive
director and chief operating officer (luxury hotels business)
will take over from RK Krishna Kumar. Krishna Kumar retires
on July 18 this year when he turns 65. Krishna Kumar will
move to the new position of non-executive director and
vice chairman of the board of IHCL. Announcing the appointment,
IHCL chairman Ratan Tata said, “In keeping with the
vision of seeing the Indian Hotels Company Ltd become
a global enterprise, I am extremely pleased that Mr Raymond
Bickson will take over as managing director from Krishna
Kumar.”
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Jet
Air appoints new CEO, COO
New Delhi: Jet Airways on Thursday announced the
appointment of Wolfgang Prock-Schauer as chief executive
officer (CEO) and Peter Luethi as chief operating officer
(COO) with immediate effect. Prock-Schauer was earlier
the chairman of the Alliance management board at Star
Alliance, one of the world’s largest partnerships
of international airlines. Luethi was previously the COO
and executive vice-president (external relations) with
Swissair in Zurich, Switzerland, a Jet Airways release
said. The private airline said the strong experience of
both these senior executives would be an asset in its
quest for market leadership and growth and in maintaining
the highest standards of reliability and excellence.
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Professionals
elected to Union Bank board
Mumbai: Union Bank of India is among the first
public sector banks to have elected `professionals' as
shareholder directors, at its first extraordinary general
meeting on June 18. V. Leeladhar, chairman and managing
director, Union Bank of India, told "I am extremely
gratified that professionals are coming on to the board
of a public sector bank and am confident that they can
make valuable contributions in their respective areas
of expertise." The three new shareholder directors
are Dr N. Balasubramanian, who is a professor in the Indian
Institute of Management, Bangalore and has significant
insight in the subject of `Finance and corporate governance,'
Ramakrishna Rajashekharan Nair, who currently serves on
the National HR committee of CII, and has been actively
associated with the HRD movement in India and Nandlal
L. Sarda, Dean (Academic Programmes) and Professor, Department
of Computer Science and Engineering.
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Ketan
Parekh agrees to repay BoI dues
Mumbai: Bank of India and the stock broker, Ketan
Parekh, have finally agreed to a settlement on the repayment
of Rs 137 crore, defaulted by the broker to the bank during
the 2001 stock market scam. According to a senior Bank
of India official, the stockbroker has agreed to pay the
amount in the next four and half years. This amount has
to be paid in 12 quarterly instalments spread over three
years, while the interest has to be paid in the next one
and half years on reducing balance. The dues related to
pay orders of Madhavpura Co-operative Bank amounting to
Rs 137 crore, issued by Ketan Parekh to Bank of India,
which the co-operative bank failed to honour. The official
said the broker now owes around Rs 105 crore to the bank
and in addition, he has agreed to pay simple interest
to the bank on the outstanding amount.
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