News makers:

Ms. Rebecca Mark, who is most well known in India for her determination in getting the Dabhol Power Company project off the ground, has resigned as chairwoman and chief executive officer of Azurix Corp, the global water company spun off from energy powerhouse Enron Corp.

Since being listed as a separate company in 1999, Azurix's share price has tumbled to less than half of the $19 price it fetched last July when the company went public. Further, for the current year, the company reported that net income fell in the second quarter from a year earlier. It also disclosed that negative foreign-exchange translations and disappointing growth overseas would likely keep it from reporting any "additional material earnings" for the rest of this year.

Ms. Mark, who also resigned from the board of Enron, which still holds a controlling stake in the water company, will be replaced by Mr. John L Garrison, the company's president and chief operating officer, as chief executive. Further, Mr. Herbert Winokur Jr, an Azurix director, was named interim chairman.