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A.K.Shukla takes over as LIC Chairman
Mumbai: A.K Shukla has taken over as Chairman of the Life Insurance Corporation on Friday. Earlier LIC Managing Director, Shukla has been in-charge of the corporation since R.N Bharadwaj retired as Chairman on May 31, 2005.

Shukla joined LIC in 1968 as a direct recruit officer. Prior to occupying the position of MD, he was Executive Director.

D.K Mehrotra, who was previously the Executive Director (International Operations), will take over as the third Managing Director.

Mehrotra joined LIC as a direct recruit officer in 1977. The other Managing Directors are K. Sridhar and T.S. Vijayan.
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Jim McNerney takes over at Boeing
Seattle: United States aerospace and defence giant Boeing ended its search for a new chief executive yesterday by persuading Jim McNerney, the chief executive of the US conglomerate 3M, to take over what is regarded as one of the toughest assignments in corporate America.

Mc Nerney will have the task of restoring Boeing's morale - after a string of ethics scandals which claimed the scalps of its two previous chief executives - and regaining its lead in the civil aircraft market over Airbus.

McNerney, who was already a non-executive director of Boeing, moved to 3M in 2001 after losing out in the race to succeed Jack Welch as chairman and chief executive of General Electric, and was the first candidate approached by Boeing after its previous chief executive, Harry Stonecipher, was ousted for having an affair with a senior colleague.

Stonecipher's predecessor, Phil Condit, was forced to quit in 2003 over an earlier ethics scandal involving the hiring of a former Pentagon procurement official.
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Ms Daruwalla is CMD, Central Bank of India
New Delhi: Ms H.A. Daruwalla is the new Chairman and Managing Director of Central Bank of India.

Prior to taking charge as CMD of Central Bank of India, Ms Daruwalla was Executive Director of Oriental Bank of Commerce.

Ms Daruwalla, a chartered accountant, started her career with Union Bank of India as an officer.
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Gautam Doshi appointed as Group President for ADA Enterprises
Mumbai: Anil Ambani has roped in a full-fledged President, primarily responsible for mergers and acquisitions (M&A). This comes a day after Anil Dhirubhai Ambani (ADA) Enterprises made its first predatory move, with Reliance Land Pvt Ltd, part of Reliance Capital, announcing that it was picking up 51 per cent stake in Adlabs Films Ltd.

Gautam Doshi, formerly a Director of Ambit Corporate Finance Pvt Ltd, and senior partner of RSM & Co, Chartered Accountants, has joined ADA Enterprises as Group President and will be a key member of its leadership team, said a company release here. This comes barely a week after Doshi was appointed a Director at Reliance Infocomm.

According to the release, Doshi has had significant experience in the area of corporate restructuring and M&A. In addition, Doshi will also be supervising the tax, regulatory and accounting functions at ADA Enterprises, which has been abuzz with activity ever since it was set up less than two weeks ago.
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Karwal out as Electrolux CEO
Mumbai/New Delhi: Electrolux Kelvinator Ltd managing director & CEO Rajeev Karwal has resigned after three years at the helm. The resignation, comes on the back of turmoil at the company with the declining performance of the white goods major's and rumours of a likely change of ownership.

Karwal's exit had been in the air for a while, amid reports of the parent company being unhappy with the Indian operations.

Reports have pegged EKL's losses at Rs100 crore in 2004. While this is a improvement over the reported losses of Rs226 crore in 2003, it may also have meant that Karwal fell short of the target set for him when he joined in 2002.
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Punja on Syndicate Bank board
Mangalore: Dinakar S. Punja, President of Syndicate Bank Officers' Association (SBOA) and Executive Committee member of All-India Bank Officers' Confederation, has been appointed Director of Syndicate Bank for a period of three years by the Union Government, says an SBOA press release here.
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Bhat is new GM at Corporation Bank
Mangalore: The Corporation Bank has promoted U. Balakrishna Bhat, Deputy General Manager, as General Manager with effect from July 1.

A bank release said here that he was earlier in charge of treasury, investment and international banking operations.
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