SBI Life gets new CEO
Mumbai: Uday Sankar Roy has taken over from S. Krishnamurthy, as the managing director and CEO of SBI Life Insurance Co. The latter retired from the company at the end of January 2007. Roy had been with State Bank of India since 1972, when he joined as a probationary officer. He has held assignments in various circles of the bank, including its London office and at the Corporate Centre in Mumbai.
Back to News Review index page  

Kidwai to stay on at HSBC, Nestle
Mumbai: The Reserve Bank of India has cleared the appointment of Naina Lal Kidwai as the chief executive of HSBC India as well as allowed her to continue as a member on the global board of Nestle SA, the world's largest food firm, though with certain restrictions.

Till now, RBI had held back her appointment on the grounds that a CEO of a bank in India is not allowed to hold board positions in any other company and has said that her appointment would be cleared only after she steps down as a director of Nestle SA.

Though the central bank is learnt to have given its approval on the issue a month ago it has put in some restrictions, including not allowing HSBC India to have any lending arrangement with Nestle India.
Back to News Review index page  

Coca-Cola chief on India visit
New Delhi: Mukhtar Kent, president and CEO of the Coca-Cola Company is currently on a two-day routine market visit to India. He is said to have met with Coca-Cola India's employees and bottlers on Wednesday in New Delhi. Kent is learnt to have identified India as a core growth market.

Coca-Cola has lined up plans to increase sourcing fruit from India on a large scale for its juice brands. The soft drink major plans to develop and nurture rural business hubs for sourcing fruit and fruit pulp, the sources added.

Kent's visit comes ahead of Coca-Cola declaring its Q4 results next fortnight.
Back to News Review index page  

Management churn at ACC
Mumbai: Yet another senior member of ACC, India's second largest cement company, has resigned from the company. AK Jain, whole-time director on the board of ACC, will cease to be an employee of the company with effect from February 15, 2007. His premature retirement is being viewed as a part of the overall restructuring exercise undertaken at ACC post-sale to Holcim. Jain, however, refuted any connection between his decision to step down and the restructuring process.

The ACC board will see another big change end-March when its managing director ML Narula retires. Sumit Banerjee, who took over as the CEO designate from January 1, 2007, is scheduled to take over from Narula as MD.

Before Jain's exit, Nash Italia, president finance at ACC, retired in the middle of last year; he was replaced by Onne Van Der Weijde, a Holcim designate.
Back to News Review index page