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Wipro's Vivek Paul exits for Texas Pacific
Bangalore: Wipro Ltd., India's third-largest software exporter, announced Thursday that Vice Chairman Vivek Paul is leaving. According to the company, Paul would stay until the end of September before joining private equity firm Texas Pacific Group as a partner.

In the meanwhile the company has also said that three business unit heads will now report directly to Chairman Azim Premji, as an interim measure.

Hired from General Electric Co (Research) six years ago, Paul was the head of Wipro's main software export unit, Wipro Technologies, and the global face of the Bangalore-based firm.

Paul's move comes on the back of the exit of Raman Roy, vice chairman of Wipro's back-office unit, who left three weeks ago.

"Vivek has groomed a set of global leaders who can take over from him and continue to build on this foundation," Premji said in a statement. Premji also named Lakshman Rao, who currently heads Wipro's telecom business, as chief operating officer.

Sudip Banerjee, president of the unit that runs corporate software services, and Girish Paranjpe, who heads the financial service business, will also report to Premji in place of Paul.
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Morgan Stanley names John Mack CEO
New York: Investment bank Morgan Stanley on Thursday said it has hired former President John Mack to replace current Chief Executive, Philip Purcell.

Mack's appointment is effective immediately and was unanimously approved by the Morgan Stanley board in a meeting in New York.
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Pawan Goenka replaces Duarante as head of M&M's automotive unit
Mumbai: Dr Pawan Goenka, Chief Operating Officer (Automotive Sector), Mahindra & Mahindra Ltd (M&M), will take over from Alan Durante as the President of the sector and member of the company's management board with effect from September 26, an official statement said here on Thursday.

Durante retires in September after a career spread over more than four decades at M&M.
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Coffee Day's Naresh Malhotra joins Royal Orchid board
Bangalore: Royal Orchid Group has announced the appointment of Naresh Malhotra, CEO of Café Coffee Day, on its Board of Directors.

Malhotra heads the Café Coffee Day Division of Amalgamated Bean Coffee Trading Company Ltd. He had earlier worked with Imperial Chemical Industries, Unilever Group and Colgate Palmolive in India and overseas.

He was a President and member of the Supervisory Board of the UB Group, Bangalore and also a Founding Partner of KPMG, India.
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Apurva Purohit joins Radio City as CEO
Mumbai: Music Broadcast Pvt Ltd (MBPL) has announced the induction of Ms Apurva Purohit as its CEO with effect from today.

According to the company, Ms Apurva Purohit will spearhead the efforts to strengthen the Radio City brand and help develop the company's strategy in the evolving FM radio business.

Ms Purohit has an extensive experience in the management of media brands. An alumnus of IIM Bangalore, Ms Purohit has spent time in some of the largest advertising agencies in India, and was instrumental in setting up the media laboratory Lodestar. In recent years, she has been managing media brands such as Zee TV and media start-ups Zoom.
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Mallya appointed ED at Oriental Bank of Commerce
Mangalore: The Union Government has appointed M.D. Mallya as Executive Director of Oriental Bank of Commerce. Mallya is assuming office in New Delhi on July 1.

Mallya was with the Corporation Bank earlier.
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Srinivasan new global sales head at SunTec
Thiruvananthapuram: SunTec Business Solutions has announced the appointment of K. Srinivasan as senior Vice-President and Global Sales Head, Banking, Financial Services and Insurance (BFSI).

Srinivasan will be responsible for building a global sales and account management organisation for the BFSI vertical and will lead SunTec's quest to become the preferred partner to banks and financial services institutions around the world for their end-to-end transaction billing and enterprise value management requirements, the company has said.
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