Govt. shows Raha the door
New Delhi: ONGC chairman Subir Raha has retired from service, with the government not extending his term at the helm of the domestic oil major. Raha had an eventful innnings of five years.

Raha was frequently seen to be at loggerheads with former petroleum minister Mani Shanker Aiyar, even publically. As per his contract, Mr Raha was supposed to hold the office of CMD of ONGC for five years or till he turned 60, whichever was earlier.

The oil ministry is now likely to ask the senior most director on the company board RS Sharma, director (finance) or Anil Razdan, additional secretary in the petroleum ministry, to officiate as the acting CMD till a permanent appointment is made through the public enterprises selection board.

However media reports suggesting a likely extension are still doing the rounds.
Back to News Review index page  

Patni's chief financial officer resigns
Mumbai: Patni Computer Systems Ltd has announced that its chief financial officer (CFO), Deepak Sogani will be leaving the organization as he has been appointed chief financial officer (CFO) of BPO major Sutherland Global Services. Sutherland is headquartered in New York and has operations in US, Canada, India and the Philippines, the release added.

Sogani will however continue his present responsibilities for the next four months.

The Company has initiated the process of identification of a new chief financial officer and expects to complete the appointment within this period.
Back to News Review index page  

N. Lokesh, is new V-P for Heritage Foods
Hyderabad: N. Lokesh, son of Telugu Desam Party president and former Andhra Pradesh chief minister N. Chandrababu Naidu, is set to become Vice-President of Heritage Foods India Ltd.

The extraordinary general meeting of the company held on Monday has approved the proposal to make him the vice-president, the company informed the Bombay Stock Exchange.
Ms Bhuvaneshwari, Lokesh' mother, is the vice-chairperson and managing director of the company.
Back to News Review index page  

Lumba is new ED at Lifestyle
New Delhi: Lifestyle International Pvt Ltd, part of the Dubai- based Landmark Group, has announced the appointment of Kabir Lumba as executive director. He will head the company's Indian operations.

Lumba has been the president of Lifestyle for the past few years, heading buying and merchandising functions.
Back to News Review index page