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Suzlon hires Amit Agarwal as new chief financial officer

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Mumbai: Wind turbine maker Suzlon Energy Ltd named Amit Agarwal as its new chief financial officer.

Agarwal, who replaced Kirti Vagadia, will report to chairman Tulsi Tanti. Vagadia will now focus on his role as head of finance at the Suzlon Group, which includes its wholly owned German subsidiary REpower Systems SE, the company said in a statement.

Agarwal, a chartered accountant and graduate from the University of Pennsylvania’s Wharton School of Business executive programme, was previously chief financial officer at Essar Steel Ltd.

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Kalyani appointed head of India-Japan Business Leader's Forum

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 NEW DELHI: Baba Kalyani, Chairman and Managing Director of Bharat Forge Ltd, has been nominated as the Chairman of the prominent India-Japan Business Leader's Forum (IJBLF).

Kalyani was appointed by the Ministry of Commerce and Industry "to leverage the developing trade and investment between the two countries for greater cooperation between their businesses," a company statement said here.

The Forum aims to steer the business developments between the two countries and also to bring fore of the respective governments any roadblocks are faced for doing businesses.

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TVS Motor shareholders approve Sundarshan Venu appointment on board

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CHENNAI: The shareholders of TVS Motor Co have approved the appointment of TVS Scion Sundarshan Venu, 24, on the board as additional director.

In February, the Chennai-based company, which has been losing market share, proposed to appoint Sudarshan Venu, son of Venu Srinivasan, chairman and managing director of TVS Motor as whole-time director. It also proposed to pay him Rs 4.17 crore as annual remuneration, inclusive of perks.

According to the disclosure by TVS Motor to the stock exchanges, institutional holders voted in favour of the resolution, while about 0.51% public shareholders voted against the resolution.

Proxy advisory firm Institutional Investor Advisory Services Ltd, or IiAS, had advised institutional investors to vote against Sudarshan Venu's appointment, saying he does not have enough experience to be on the board of the company despite being academically qualified.

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Essar Energy appoints Deepak Maheshwari as CFO

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Mumbai, India: Essar Energy plc [LSE: ESSR], the India-focused integrated energy company, today announced the appointment of Mr. Deepak Maheshwari as Chief Financial Officer. Mr. P. Sampath, the current Chief Financial Officer, moves to a new role as the President of Business Optimization and Improvement for Essar Energy plc. Both appointments are effective from April 1, 2013. 

Mr. Maheshwari most recently served as the Chief Financial Officer of Reliance Power Limited and has over 19 years of experience in project and corporate finance, investment banking and treasury management. He joined the Reliance Group in 2004 and played a critical role in leading the capital markets and financing and risk management requirements of the group. Prior to that, Mr. Maheshwari was Director Corporate Finance with ANZ Investment Bank in London and ICICI Securities in India. Mr Maheshwari has a Bachelor in Electrical Engineering from the Sardar Patel College of Engineering, Mumbai and MBAs from XLRI, Jamshedpur and the London Business School. At Essar Energy, he will report to Mr. Naresh Nayyar, Chief Executive Officer of Essar Energy plc. 

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TVS Motor President for Marketing H S Goindi resigns

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 NEW DELHI: Chennai-based two-wheeler maker TVS Motor Company today said its President for Marketing H S Goindi has resigned from the company.

"H S Goindi, President Marketing, TVS Motor Company has expressed his desire to pursue interests outside the company and as such has requested to be relieved by March 31, 2013," the company said in a statement.

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Ericsson appoints Chris Houghton as Head of India region

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NEW DELHI: European telecom equipment maker Ericsson has appointed Chris Houghton as the new Head of Indian region.

Houghton will report to Mats H Olsson, Senior Vice President Asia-Pacific, the company said in a statement.

The appointment of Houghton, now Head of Customer Unit UK and Ireland and Managing Director Ericsson UK, is effective June 3, 2013.

"Together with the team in India he (Houghton) will work to extend our footprint in the region and assisting our customers in their work to capture value in a rapidly transforming telecoms market," Ericsson President and CEO Hans Vestberg said.

Chris has worked for Ericsson for twenty five years and prior to relocating to the UK he held senior positions in Japan, Hungary and Sweden.

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Leela appoints Rajesh Jhingon as group Executive Vice President

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Hospitality chain The Leela Palaces, Hotels and Resorts today said Rajesh Jhingon has been appointed as group executive vice president, operations.

In this role, Jhingon will oversee and drive operations and initiatives for The Leela group's portfolio of eight hotels as well as four new hotels in the pipeline, the company said in a statement.

Prior to the appointment, he was serving as general manager at Mandarin Oriental Las Vegas and he has an overall experience of over 20 years.

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Sanjay Nigam named CEO of TVS Automobile Solutions

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MADURAI: TVS Automobile Solutions Ltd, India's leading aftermarket car service and solutions provider, today announced the appointment of Sanjay Nigam as new President and Chief Executive Officer with effect from March 1, 2013.

Sanjay, who will take over the mantle from R Srivatchan, will be responsible for managing the company's operations and be entrusted with the expansion of business network across India and abroad, a company release said.

TVS Automobile solutions, which operates through the popular brand MyTVS, provides gamut of aftermarket car service solutions that include multi-brand car service and 24x7 emergency roadside assistance.

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Kishore Biyani picks K Radhakrishnan to scale up KB's FairPrice

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MUMBAI: Retail baron Kishore Biyani has handpicked K Radhakrishnan to drive a massive scale-up of his neighbourhood stores chain KB's FairPrice, which he hopes will be as influential as Big Bazaar in a couple of years.

Radhakrishnan, 54, who has been Future Fresh Foods president, will now take over as the CEO of KB's FairPrice, which plans to open more than 1,000 outlets in the next two years in Delhi, Mumbai and Bangalore, up from around 200 stores at present.

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Maruti Suzuki India appoints Kenichi Ayukawa as its new MD & CEO

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NEW DELHI: Maruti Suzuki India, India's largest carmaker, has appointed one of its directors, KenichiAyukawa as the new Managing Director and CEO in place of ShinzoNakanishi. Ayukawa, a Suzuki veteran who's been with the Japanese carmaker since 1980, has worked across verticals including as treasurer with its US subsidiary, general manager for overseas marketing and managing director of the company's Pakistan subsidiary.

He has been a non-executive director on Maruti Suzuki Board since July 2008. Ayukawa is currently managing executive officer and executive general manager, global marketing at SMC Japan. His new appointment would be effective from April 1, 2013, as Nakanishi has attained the age of retirement.

Ayukawa, a law graduate from Osaka University, assumes the top position in Maruti at a time when the Indian market is facing its slowest growth in over a decade. Demand for new vehicles in India has shrunk due to high fuel prices and weak customer sentiments. Maruti's vehicle sales grew 6% in the first 11 months of the fiscal, signalling tougher times ahead.

The top-level changes were decided in a board meeting of the company on Friday, which was also attended by the SMC chairman Osamu Suzuki, who owns 54.4% stake in the Indian company. The management change is on expected lines as SMC has flagged off new investments in India to the tune of 10,000 crore that would see several new plants coming up at twin locations in Gujarat.

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Indian Staffing Federation appoints Rufina Fernandes as CEO

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NEW DELHI: Indian Staffing Federation (ISF), the apex body of staffing companies in India has appointed Rufina Fernandes as its chief executive officer, ISF said in a statement.

"As we witness the rapid and promising growth of flexi staffing in Indian companies, we see ourselves playing a crucial role in this emerging trend. Rufina's rich experience will be of immense value to the Indian Staffing Federation as it enters the next phase of growth," K Pandia Rajan, president Indian Staffing Federation said in a statement.

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