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<ul><li><keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">OYO</keyword> announced the appointment of <keyword id="8358499" type="UNKNOWN" weightage="20" keywordseo="betsy-atkins">Betsy Atkins</keyword> on its board as an independent director. </li><li>Atkins as the CEO of <keyword id="8358498" type="UNKNOWN" weightage="20" keywordseo="baja-corporation">Baja corporation</keyword> which invested in companies like <keyword id="6363100" type="ORGANIZATION" weightage="20" keywordseo="yahoo">Yahoo</keyword> and <keyword id="6357395" type="UNKNOWN" weightage="20" keywordseo="eBay">eBay</keyword>. </li><li>Her expertise lies in scaling companies leading them to successful IPO and acquisitions. </li></ul>OYO announced the appointment of Betsy Atkins as independent director into its board. Atkins is the CEO of Baja corporation, where she has built three early stage funds, and invested in companies like Yahoo and eBay. Interestingly, Atkins’ expertise lies in scaling companies and leading them to successful IPOs and acquisitions. Her entry could all but confirm the many rumours that OYO might soon be heading for an IPO. “She is an expert at scaling companies through the hyper-growth stage and leading them to successful access to the public markets and acquisitions, which makes her a great addition to OYO, as the company moves towards its next phase of growth,” said Oyo in a press release. Having established itself in the Indian and Chinese markets, OYO is now investing heavily in the US market. Atkins joins Oyo’s board which has eminent people like Mark Schwartz, Vice Chairman of Goldman Sachs and Chairman of Goldman Sachs Asia Pacific; Munish Varma of SoftBank Vision Fund; Bejul Somaia ofLightspeed India Partners Advisors; and Mohit Bhatnagar of Sequoia Capital India Advisor on the board of OYO. ‘’OYO, with its unique asset-light business model and strong data capabilities, is creating something entirely new for the more than 3 billion middle-income travellers and city dwellers who need accommodations that meet their standards and also their budgets,” Atkins said.

Yahoo and eBay investor Betsy Atkins joining OYO’s board is a sign of the company’s IPO plans

<ul><li><keyword id="229263" type="PERSON" weightage="20" keywordseo="Aditya-Ghosh">Aditya Ghosh</keyword> has been appointed as a board member of <keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">OYO</keyword>. </li><li>Ghosh joins <keyword id="1670338" type="PERSON" weightage="20" keywordseo="Ritesh-Agarwal">Ritesh Agarwal</keyword>, Betsy Atkins, Bejul Somaia and others on the board of the hospitality unicorn. </li><li>Ghosh was earlier the CEO of the Indian airlines <keyword id="6354706" type="DEFINITION" weightage="20" keywordseo="IndiGo">IndiGo</keyword>. </li></ul>Aditya Ghosh started off as a lawyer after he graduated from the Delhi 30 years ago. Since then, he has risen up the corporate ladder fast. He is not new to the plush offices of Gurgaon and big positions in company Board of Directors. The latest feather in his cap is a board seat in India’s hospitality unicorn OYO. A decade at Indigo Ghosh joined Indigo in 2008 after six years as a lawyer. Interestingly, Ghosh used to work with J Sagar Associates where IndiGo was his client. 
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 He held on to the position of President of InterGlobe Aviations for ten years. He resigned in 2018, when the company was expanding to international waters. Ghosh’s resignation was much talked about and he was replaced by IndiGo founder Rahul Bhatia as an interim CEO. “Firstly, and with mixed emotions, I wish to inform you that Aditya Ghosh is resigning and will leave the Company on July 31. Aditya wishes to start a new business venture and we respect his decision to do so,” <a href="https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/indigo-president-aditya-ghosh-resigns-rahul-bhatia-named-interim-ceo/articleshow/63943286.cms?from=mdr">Bhatia said </a>in an email to its employees. Under his leadership, Indigo airlines got a <a href="https://qz.com/india/1265218/aditya-ghoshs-tenure-at-indigo-the-brutal-final-months-before-the-exit/">market share </a>of 39.5% in India. Soon after his resignation at IndiGo, Ghosh joined Tata Trusts as an advisor at the Tata Trusts Cancer Care Initiative. It was a short stint. A part of OYO’s fast growth Ghosh joined OYO in November 2018 as the CEO India and South Asia. “We will have one million rooms inventory into our fold in the near distant future. I think, it should happen in a year and a half,” Ghosh had said earlier this year, adding that OYO will soon be the world’s largest hotel chain. Today he shares the boardroom of OYO with the founder Ritesh Agarwal, Betsy Atkins (an early backer of Yahoo and eBay) among other investors like Munish Varma from SoftBank Vision Fund, Lightspeed India Partners Advisors’ Bejul Somaia and Mohit Bhatnagar, the Managing Director of Sequoia Capital India. 
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 “Aditya’s strong business acumen, problem solving capabilities, passion for building an organization with strong corporate governance and a high performing work culture that thrives on principles of diversity and inclusion, makes him the perfect choice for this larger and more strategic role, at a global level. I am certain that this decision will greatly help OYO achieve its goals, globally,” said Agarwal. The trouble-shooter in need Ghosh’s rise in the company comes at a time when OYO is dealing with multiple problems at hand, while it is also expanding rapidly across the world. A valuation report sourced on OYO’s financials show that the company has reported a loss of ₹2,384.7 crore, almost six times higher than its losses a year earlier. In July 2019, Agarwal invested $2 billion into his own company. Agarwal made the investment through a Cayman-registered company, RA Hospitality Holdings. This resulted in a jump in the valuation of the company. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[
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 However, OYO is also facing trouble from hotel owners who are alleging that <a href="https://www.businessinsider.in/business/startups/news/oyo-zomato-amazon-and-flipkart-are-in-trouble/articleshow/72235917.cms">OYO’s practices are unethical. </a> Recently, a Bengaluru hotelier filed a cheating case against Agarwal and six others claiming that the OYO hasn’t paid him his dues. According to the complaint, OYO was supposed to pay ₹7 lakh a month for room bookings but failed to do so since May 2019. OYO responded stating that it would fight back with a complaint against the hotelier for "using improper legal means to sensationalise a civil dispute and get attention". See Also: <a href="https://www.businessinsider.in/business/startups/news/as-oyo-valuation-and-losses-increase-good-time-for-warren-buffett-quotes/articleshow/72258653.cms">Bizarre! The more losses Oyo makes, the more valuable it gets</a>

This Delhi University graduate went from being a lawyer to the CEO of India’s largest airline to a boardroom with the likes of Betsy Atkins who backed Yahoo and eBay

<ul><li>An ex-Uber executive has joined the special-purpose acquisition company craze and one of its special advisors includes former Google CEO <keyword id="51897" type="PERSON" weightage="60" keywordseo="Eric-Schmidt">Eric Schmidt</keyword>, an SEC filing on Friday showed.</li><li>DPCM Capital, owned by Uber's former head of business <keyword id="2602179" type="PERSON" weightage="60" keywordseo="Emil-Michael">Emil Michael</keyword>, seeks to raise $250 million in an initial public offering to acquire a company in the technology sector.</li><li>Other special advisors to Michael's company are early Uber investor Shervin Pishevar and serial investor Betsy Atkins.</li><li>About $48 billion has so far been raised across 127 <keyword id="1817616" type="ORGANIZATION" weightage="60" keywordseo="SPAC">SPAC</keyword> IPOs in 2020 so far, according to <a href="https://spacinsider.com/stats/?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">SPACInsider.com</a></li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>Former Uber executive Emil Michael has joined the SPAC euphoria after filing for a public offering of $250 million for a tech-based blank check company. On Friday, Michael registered <a href="https://sec.report/Document/0001213900-20-029922/">plans with the Securities Exchange Commission</a> for his company, DPCM Capital, to sell 25 million units at $10 each and applied to list on the New York Stock Exchange under the ticker symbol "XPOA.U." He was a long-time head of business at Uber and part of then-CEO Travis Kalanick's inner circle, but <a href="https://www.businessinsider.com/emil-michael-uber-chief-business-officer-to-leave-company-report-2017-6">resigned in 2017</a> after being involved in investigations into the company's work culture. He <a href="https://www.businessinsider.com/ex-uber-executive-emil-michael-considered-by-trump-cabinet-report-2019-6">did not provide a reason</a> for leaving the firm behind the eponymous taxi app.The filing counts a striking list of special advisors including Google's former CEO Eric Schmidt, early Uber investor Shervin Pishevar, and serial investor Betsy Atkins, who serves on several boards including <a href="https://money.yahoo.com/wynn-resorts-under-public-pressure-174609744.html">Las Vegas casino Wynn Resorts</a>.Read More:<a href="https://www.businessinsider.com/stock-picks-to-buy-cheap-growth-alternatives-big-tech-ms-2020-10" target="_blank" rel="noopener noreferrer"> MORGAN STANLEY: Buy these 16 stocks to cheaply invest in next-generation technologies and reap the future profits they generate</a>DPCM is the latest entrant to the SPAC route, joining a list of other high-profile investors including <a href="https://markets.businessinsider.com/news/stocks/bill-ackman-blank-check-spac-ipo-tontine-raise-record-market-2020-7-1029415963">Bill Ackman</a>, <a href="https://markets.businessinsider.com/news/stocks/chamath-palihapitiya-fourth-spac-blank-check-firm-social-capital-hedosophia-2020-9-1029591914">Chamath Palihapitiya</a>, and <a href="https://markets.businessinsider.com/news/stocks/billionaire-richard-branson-spac-virgin-2020-9-1029597887">Richard Branson</a>. UBS Investment Bank is the underwriter to the company's offering.SPACs, which provide an alternative route to a public stock listing, are enjoying a surge in popularity this year. Ordinarily, it is meant to raise money in an <keyword id="6354763" type="UNKNOWN" weightage="60" keywordseo="ipo">IPO</keyword> to buy and merge with an unknown company.About $48 billion has so far been raised across 127 SPAC IPOs in 2020 so far, according to <a href="https://spacinsider.com/stats/?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">SPACInsider.com</a>. That pace is more than triple last year's $13.6 billion in proceeds through 59 deals.Read More:<a href="https://www.businessinsider.com/stock-market-crash-signal-30-year-record-doom-flashing-tech-2020-10" target="_blank" rel="noopener noreferrer"> A Wall Street expert says a trend with a 30-year track record of wrecking expensive stocks is flashing for big tech — and warns investors to brace for a turnaround within months</a>

An Ex-Uber executive joins the SPAC frenzy, and Google's former CEO Eric Schmidt is among its special advisors

<ul><li><keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">OYO</keyword> has raised an undisclosed amount of funding from Martin HP Söderström, the chairman of DIG Investments. </li><li>The Ritesh Agarwal-led OYO raised ₹54 crore or $7.4 million from Hindustan Media Ventures in a Series F round of funding. </li><li>With this investment, Söderström will also join the board of OYO Europe. </li></ul>Indian hospitality unicorn OYO has raised an undisclosed amount of funding from Martin HP Söderström, the chairman of DIG Investments. Söderström’s wife Charlotte is also the heir of the fashion brand H&amp;M. Earlier this week, the Ritesh Agarwal-led OYO raised <a href="https://www.businessinsider.in/business/startups/news/oyo-bags-a-7-4-million-cheque-as-pandemic-forces-ritesh-agarwal-to-reimagine-the-business/articleshow/80170847.cms">₹54 crore or $7.4 million</a> from Hindustan Media Ventures in a Series F round of funding. OYO has been<a href="https://www.businessinsider.in/advertising/brands/news/indians-are-travelling-again-oyo-saw-a-72-surge-in-bookings-for-destinations-like-jaipur-goa-and-kochi-during-the-long-weekend/articleshow/78494877.cms"> pinning its hopes</a> on the staycation and ‘drive-to’ destination trend to get back on track. In fact, OYO has been betting on its holiday homes vertical in Europe, and recently Agarwal had mentioned that having already pumped 350 to 400 million Euros in the area, they are looking <a href="https://www.business-standard.com/article/pti-stories/oyo-to-make-further-investments-in-europe-ritesh-agarwal-120121001113_1.html">to invest more</a>. OYO claims that with the recent conclusion of the acquisition of TUI Ferienhaus business from e-domizil GmbH, it is now the second-largest globally in the vacation homes space by the number of homes. With this investment, Söderström will also join the board of OYO Europe. OYO BOARD MEMBERS <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Troy Alstead </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Former COO, Starbucks </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gerardo Issac (Gerry) Lopez </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Operating partner at SoftBank Vision Fund </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Betsy Atkins </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CEO &amp; founder of Baja Corporation </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Munish Varma </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SoftBank Investment Advisers </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bejul Somaia </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Managing director, Lightspeed Venture Partners </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mohit Bhatnagar </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Managing director, Sequoia Capital </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aditya Ghosh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Former CEO - OYO India &amp; South Asia Former President Indigo Airlines </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr W. Steve Albrecht </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Former president of the American Accounting Association </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Martin Söderström </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chairman of DIG Investment </td></tr></tbody></table> “Martin will work closely with the management team of OYO to drive continued and sustainable growth in the company. He will provide guidance on potential M&amp;A opportunities, and would also assist the organization in building deep strategic partnerships with other leading, EU-based companies and lay out its brand positioning strategy as a thought leader in the vacation rental space,” said the company in its statement. SEE ALSO: <a href="https://www.businessinsider.in/business/ecommerce/news/radhakishan-damani-dmart-ready-takes-cautious-steps-against-jiomart-and-amazon/articleshow/80209971.cms">Pitted against JioMart, Amazon and others, Radhakishan Damani’s DMart has opted for “controlled acceleration” in e-commerce</a> <a href="https://www.businessinsider.in/tech/apps/news/with-whatsapp-popularity-hit-zoho-plans-to-launch-arattai-messaging-app/articleshow/80206802.cms">Zoho plans to woo WhatsApp defectors with its own messaging app Arattai</a>

OYO cashes in another cheque from Swedish billionaire Martin HP Söderström for its vacation homes business in Europe

New Delhi, Jun 9 () Hospitality firm OYO on Tuesday said it has appointed W Steve Albrecht as non-executive director on the company's board of directors. As a non-executive director of the board, Albrecht will play a supervisory role and guide the founder and management on key business decisions, OYO Hotels &amp; Homes said in a statement. He is presently on the boards of SkyWest Airlines, Larry H Miller Group of Companies, and Deseret Mutual Benefit Association, it added. Albrecht is a former president of the American Accounting Association and Association of Certified Fraud Examiners. As a professor, he taught full-time at the University of Illinois, Stanford and Brigham Young University, the statement said. He is also a certified public accountant, internal auditor and fraud examiner. "Steve is an expert and a thought leader who will help us deliver on sustainable growth, operational and service excellence, and help us continue building a strong culture of corporate governance and accountability," OYO Hotels Founder and Group CEO Ritesh Agarwal said. As COVID-19 continues to impact the business, and forcing businesses to rethink its strategies, OYO's board has also come together and has been constantly guiding the group on business continuity and recovery measures, he added. Albrecht will join the board that has industry experts like Troy Alstead, Gerardo Issac (Gerry) Lopez, Betsy Atkins, Munish Varma, Bejul Somaia, Mohit Bhatnagar and Aditya Ghosh, OYO said. AKT BAL

OYO appoints Steve Albrecht as non-executive director

New Delhi, Dec 2 () Hospitality firm OYO on Monday said it has elevated Aditya Ghosh, currently chief executive officer (India &amp; South Asia) for the hotels and homes business, as a member of its board of directors.
 Rohit Kapoor, currently CEO of the new real estate businesses of the company, has been appointed as CEO (India &amp; South Asia) for OYO Hotels &amp; Homes, it added.
 Ghosh will join OYO Hotels &amp; Homes founder &amp; Group CEO Ritesh Agarwal, Baja Corporation founder &amp; CEO Betsy Atkins and other industry experts like Munish Varma, Bejul Somaia and Mohit Bhatnagar, among others, on the company's board, OYO Hotels &amp; Homes said in a statement.
 In his role on the board, Ghosh will focus on five key areas namely, safety and security, customer experience, corporate governance, revenue management and stakeholder communications, the statement said.
 "Ghosh's strong business acumen, problem-solving capabilities, passion for building an organisation with strong corporate governance and a high-performing work culture that thrives on principles of diversity and inclusion, make him the perfect choice for this larger and more strategic role, at a global level," OYO Hotels &amp; Homes founder &amp; Group CEO Ritesh Agarwal said.
 The decision will help OYO achieve its goals globally, he added.
 On the appointment, Ghosh said, "I am thankful to the board for inviting me into the august group to further build OYO as a global brand to reckon with, by not just growing fast, but growing right."
 Ghosh and Kapoor will "work closely through the coming month to enable a smooth and seamless transition", the statement said.
 Rohit's remit will now also span the operations of over 18,000 hotels across over 500 cities in India and South Asia, it added. AKT HRS

OYO elevates India & South Asia CEO Aditya Ghosh to board of directors

<ul><li>OYO has brought on board Dr W. Steve Albrecht, an industry veteran for audit and corporate governance. </li><li>The appointments to OYO’s board are another indicator of a possible IPO soon for the hotel chain.</li><li>Albrecht also sits on the board of the US-based SkyWest Airlines, Larry H. Miller Group of Companies, and Deseret Mutual Benefit Association.</li></ul>Indian hospitality unicorn OYO has announced the 8th addition to its board of directors. The company has brought on board Dr W. Steve Albrecht, an industry veteran for audit and corporate governance. Albrecht is the former president of the American Accounting Association. Albrecht, also sits on the board of the US-based SkyWest Airlines, Larry H. Miller Group of Companies, and Deseret Mutual Benefit Association and was previously also on the board of the now IBM acquired Red Hat. The industry veteran has also consulted and audited major financial institutions including the United Nations, FBI. “Steve is an expert and a thought leader who will help us deliver on sustainable growth, operational and service excellence, and help us continue building a strong culture of corporate governance and accountability. As COVID-19 continues to impact the business and forces businesses to rethink its strategies, our board has also come together and has been constantly guiding us on business continuity and recovery measures,” said OYO founder <keyword id="1670338" type="PERSON" weightage="20" keywordseo="Ritesh-Agarwal">Ritesh Agarwal</keyword> on the appointment. <keyword id="8358615" type="UNKNOWN" weightage="20" keywordseo="Oyo-Board">OYO BOARD</keyword> MEMBERS <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Troy Alstead </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Former COO, Starbucks </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gerardo Issac (Gerry) Lopez </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Operating partner at SoftBank Vision Fund </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Betsy Atkins </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CEO &amp; founder of Baja Corporation </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Munish Varma </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SoftBank Investment Advisers </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bejul Somaia </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Managing director, Lightspeed Venture Partners </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mohit Bhatnagar </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Managing director, Sequoia Capital </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aditya Ghosh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Former CEO - OYO India &amp; South Asia Former President Indigo Airlines </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr W. Steve Albrecht </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Former president of the American Accounting Association </td></tr></tbody></table> The appointments to OYO’s board and its renewed focus on profitability and corporate governance are another indicator of a possible IPO soon for the hotel chain. However, OYO has immediate important business matters at hand. The hotel chain which was growing at a breakneck speed until December 2019, has hit the brakes with a series of consumer and hotelier complaints followed by a layoff of thousands of employees across the globe in January 2020. It then was impacted by the coronavirus pandemic and saw a sharp drop in fortunes after the COVID-19 outbreak. While OYO’s China and Japan divisions have seen growth in the past few weeks, its India business has just reopened on June 8. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/owner-of-oberoi-and-trident-defers-results-triggering-a-sell-off-in-indian-hotel-stocks/articleshow/76281330.cms">The owner of Oberoi and Trident defers results triggering a sell-off in India's hotel stocks</a> <a href="https://www.businessinsider.in/business/news/parle-g-clocked-record-sales-in-may-it-may-be-because-broke-and-starving-migrant-labourers-could-barely-afford-anything-else/articleshow/76280162.cms">Parle G clocked record sales in May⁠— it may be because broke and starving migrant labourers could barely afford anything else</a> <a href="https://www.businessinsider.in/business/corporates/news/anand-mahindras-sanjivani-solution-for-cos-think-like-a-startup-and-do-a-marie-kondo-style-clean-up-of-portfolio/articleshow/76275190.cms">Anand Mahindra’s Sanjivani solution for cos – think like a startup and do a Marie Kondo style clean up of portfolio</a>

OYO is beefing up its board of directors – the second board appointment this year is a former FBI consultant

A key role of the board is overseeing M&amp;A. Technology M&amp;A is having another record year and not showing any signs of slowing down. This year alone there have been 46 deals that were over $1 billion in value. While we've seen boom years in Technology M&amp;A before, something is different this time around.The potential buyer universe has changed - the market has seen the rise of the new buyer-types:<ul><li>Foreign acquirors, especially China</li><li>Cross-industry buyers</li><li>Financial sponsors</li><li>Institutional Investors becoming Active Shareholders</li></ul>To put this phenomenon in perspective, 73% of U.S. based tech companies were sold to buyers who were either foreign, outside of the information technology industry or a financial sponsor, a huge shift in the breadth of the buyer universe since 2014.<div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image on-image"><a title_source="Betsy Atkins" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/581a4bc8362ca4892e8b6577-960/screen shot 2016-11-02 at 4.21.12 pm.png"></a>Betsy Atkins</div></div></div>Importantly, of the 27% of transactions where the buyer was ultimately a U.S. based technology company, a significant percentage had participation from foreign, non-technology or financial sponsor buyers in the process who bid but didn't win. There is no doubt that the participation of these "nontraditional" buyers enhances the competitive tension of the process. So why does this shift dramatically impact your Boards? We all know board directors are subject to the duties of care. The issues a director will face during certain sale or merger transactions are subject to additional so-called Revlon duties to ensure that reasonable efforts are made to secure the highest price available. The carrying out of these duties is subject to intense scrutiny. It is a virtual certainty that an M&amp;A transaction of a publicly-listed company in the U.S. will ultimately lead to litigation focused on how the board conducted the process. So how do directors ensure they are getting the highest price available?One of the most important things the board does when considering the sale of a company is selecting a financial advisor. Choosing a qualified, experienced financial advisor with relevant transaction capabilities who has knowledge of all the potential buyers will be one of the most important decisions you make.Five years ago when the majority of deals were "tech to tech", "domestic to domestic", "strategic to strategic", there were probably 6-8 great full-scale/full-reach advisors along with 8-10 great boutiques to consider for selling your company. Today, unless you are certain that your company doesn't appeal to the cross-industry or international or financial sponsor buyer, your smart choices are going to be fewer if you want to reach that broad buyer group and get the highest price consistent with your fiduciary duty.So let's examine the trends that have impacted the M&amp;A market in recent years and how this expanding universe of buyers in technology has shifted the board's advisory selection from boutique advisors to full scale advisors with complete buyer reach access to maximize shareholder value.<h2>Foreign Buyers</h2>In the past decade, inbound M&amp;A activity of foreign companies buying U.S. companies has dramatically increased and is now a fifth of U.S. Tech buyers. Geographies such as China have increased their outbound M&amp;A transaction volume. In the first 6 months of 2016 alone, there have been$28 billion China announced outbound M&amp;A transactions (see chart below), including Ingram Micro's $6 billion sale to HNA Group's Tianjin Tianhai, which was the largest outbound acquisition by a Chinese company in the technology sector so far. <div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image on-image"><a title_source="Betsy Atkins" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/581a4bf4362ca4372e8b6617-960/screen shot 2016-11-02 at 4.21.19 pm.png"></a>Betsy Atkins</div></div></div>Additionally, tax inversions where targeted U.S. companies are re-domiciled abroad have been increasingly common transaction structures attracting foreign buyers. Applied Materials' $9 billion merger with Tokyo-Electron (which was later terminated due to anti-trust concerns) was motivated in part by both companies' desire to lower corporate income taxes on future earnings through an inversion structure. The implication for the board of these transactions is clear: an effective financial advisor must have a global network with knowledge and access to potential buyers who will emerge from other geographies. That gives you a number of great choices but they need to be from among the global firms that have bankers around the globe with access to and knowledge of these interested foreign buyers.<h2>Cross-Industry Buyers</h2> Increasingly buyers outside of your company's industry have emerged as competitive acquirors. In 2015 alone, there were $28.4 billion cross-industry technology acquisitions, vs. $10.8 billion in 2012. This is an amazing 263% increase in cross-industry buyer activity. Often it depends on your company's specific cross-industry appeal. A common theme has been cash-rich, mature buyers seeking new growth platforms to build on. Information technology provides lots of examples of nontraditional companies acquiring companies in technology such as Monsanto's purchase of The Climate Corporation, Verizon's purchase of AOL and more recently Yahoo, and Walmart's acquisition of Jet. For these acquisitions to succeed, the financial advisor needs the ability to advise the board to include these cross-industry buyers in the sale process. Importantly, they need the relationships and knowledge to cultivate these new buyers who fall outside of tech. With 15 or so industries to cover, this leads us back to the larger firms that have access to the top buyers across industries, not just tech. <h2>Financial Sponsor Buyers</h2>Financial sponsors, or private equity firms, have become increasingly active.<div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image on-image"><a title_source="Betsy Atkins" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/581a4c07362ca41c258b66a6-960/screen shot 2016-11-02 at 4.21.31 pm.png"></a>Betsy Atkins</div></div></div>To properly gauge the interest of financial sponsors and to advise the board if and when you should invite financial sponsors into a sale process, your financial advisor needs to have close relationships with the relevant financial sponsors. Most importantly, have the knowledge to assess their financial capacity to compete against strategic buyers and know the maximum amounts they can aggressively pay. A key component of credibility for Directors in determining the sponsors' wherewithal comes from the financial advisor's leverage lending expertise (both in the bank and bond markets) which are relied on to fund sponsor M&amp;A transactions. Without real-time knowledge of the leveraged finance markets, your financial advisory will not be able to credibly determine the cost of financing that the sponsor relies on, and as a consequence, will not have the insights necessary to determine what price a financial sponsor could ultimately be able to pay. Several months ago, you would think ok, financial sponsors wouldn't pay 6.5x revenues and 69% premium for Cvent or 5.9x revenues and a 64% premium for Marketo which Vista Equity Partners did earlier this year. Most recently Infoblox was sold to a private equity firm at the highest premium ever paid by a financial sponsor for a technology company (73%).Having in depth knowledge of this market and the sponsor's financial capacity and desire is a critical component of the advice that financial advisors need to provide. We saw in the financial crisis of 2008 many of these financial sponsor-backed bids fell through, the consequences of misreading this market (guessing based upon prior deals instead of being in the leveraged finance market trading securities every day and knowing what is possible) can be devastating. <h2>Activist Shareholders</h2>Although not typically a buyer of companies, activist shareholders are another player now impacting M&amp;A transactions. Activist investing is not only the domain of a core group of hedge funds anymore, even institutional investors are becoming increasingly engaged. Of the campaigns announced in the last 12 months alone, ~86 separate investors have targeted more than 160 companies. Of these campaigns, 69 have led to activist additions to the board of directors, 21 have led to proxy fights and 10 have resulted in sales of the target company. Many examples exist in technology of activists having direct involvement in situations which ultimately end in a sale of the company including my board, Polycom's, recently announced merger with Mitel which later evolved into a sale of Polycom to Siris Capital. Having a financial advisor who has an experienced activism defense team is important in preparing the board early in building and articulating the company's long-term plan for value creation and helping the management and board understand their strategic landscape and M&amp;A scenarios. More M&amp;A activity over the next year is likely due to continuing improvements in economic conditions, significant cash reserves and investor pressure for increasing shareholder returns. M&amp;A remains top of mind for directors. The factors that go into deciding the selection of your financial advisor should be carefully considered. Only an advisor with strong capabilities across all of the new emerging trends will enable you and your board to maximize value for your shareholders. Betsy Atkins is CEO of Baja Corp, an early stage venture capital firm she founded in 1993 and has served on some 25 public company boards. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/elon-musk-unveils-solar-roof-solarcity-video-2016-10">Elon Musk just unveiled something that could revolutionize how you power your home </a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="ZtcHQzNzE6rJiNVeNBtErYRi4yljUmMb" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

We've seen tech M&A booms before - but something is different this time around

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>This is a huge win for activist investor Jeff Smith's hedge fund, Starboard Value. 
Starboard has been going after Olive Garden, claiming that it's badly run on all kinds of fronts.
Darden, the parent company of Olive Garden, <a href="http://finance.yahoo.com/news/darden-announces-preliminary-results-annual-134400037.html">said that it had elected all 12 of Starboard's nominees to its board.</a>
"My fellow Board members and I share a common goal for Darden - to enhance value for all of Darden's stakeholders, including its shareholders, employees, and guests, by focusing on excellence throughout the organization, maintaining and strengthening the investment-grade rating and dividend, and emphasizing a restaurant- and operations-centric culture built around great people," Starboard's Smith said in a statement.
Darden's stock was last trading up 1.6%.
Smith's Starboard Value made headlines last month for <a href="http://www.businessinsider.com/the-hedge-fund-presentation-on-olive-garden-is-a-masterpiece-2014-9">its epic presentation</a> calling for changes at Darden. One of the points made in that presentation was a change to Olive Garden's <a href="http://www.businessinsider.com/darden-olive-garden-presentation-2014-9#">famous unlimited breadsticks and salad</a>. 
Here's today's press release:
ORLANDO, Fla., Oct. 10, 2014 /PRNewswire/ -- Darden Restaurants, Inc. (<a href="http://finance.yahoo.com/q?s=dri" data-rapid_p="8">DRI</a>) today announced that, based on the preliminary vote count provided by its proxy solicitor following the Company's 2014 Annual Meeting, shareholders have elected all 12 Starboard-nominated directors to Darden's Board of Directors including: Betsy S. Atkins, Margaret Shan Atkins, Jean M. Birch, Bradley D. Blum, Peter A. Feld, James P. Fogarty, Cynthia T. Jamison, William H. Lenehan, Lionel L. Nowell, III, Jeffrey C. Smith, Charles M. Sonsteby, and Alan N. Stillman.
Speaking on behalf of Darden's newly elected Board, Jeffrey C. Smith, Chief Executive Officer of Starboard, said, "Darden has an incredibly strong foundation that reflects its iconic and growing brands, 150,000 dedicated employees, and many loyal and passionate guests. Darden's future is bright. The new Board is prepared and excited to immediately begin working alongside Darden's management team to put Darden on track for long-term value creation for all shareholders. My fellow Board members and I share a common goal for Darden - to enhance value for all of Darden's stakeholders, including its shareholders, employees, and guests, by focusing on excellence throughout the organization, maintaining and strengthening the investment-grade rating and dividend, and emphasizing a restaurant- and operations-centric culture built around great people. The new Board wishes the departing directors well, and we thank them and their advisors for ensuring a smooth and seamless transition process that will allow us to immediately focus on the priorities at hand, including the selection of a transformational leader to be Darden's CEO." 
Mr. Smith concluded, "Darden has all the right ingredients to regain the strength and prominence it once enjoyed. The new Board is incredibly excited by the opportunity at hand. We look forward to continuing our hard work from inside the boardroom and working with management on a shared goal of excellence for Darden."
Speaking on behalf of Darden's outgoing directors, Charles A. Ledsinger Jr., the former Independent Non-Executive Chairman of Darden's Board, said, "We are extremely grateful to Darden Restaurants' talented and dedicated management and employees who, day after day, serve our customers with distinction and are the backbone of what makes Darden the preeminent casual dining company. We give our best wishes to the incoming directors, welcome the reconstituted Board and look forward to seeing continued progress at Darden. On behalf of the outgoing Board, it has been our privilege to serve."
Speaking on behalf of the Darden employees, Gene Lee, President and Chief Operating Officer of Darden said, "I am incredibly proud of our employees for their energy, passion and focus. Despite the recent distractions, our terrific employees remained focused on our priorities in the restaurants. We fully understand that our guests need to receive great food and great service, and we continue to deliver. We are grateful that there is clear resolution at the Board level and very much look forward to working with our new Board to continue to drive improvements throughout the organization."
Darden noted that the preliminary vote count following the Annual Meeting also indicates that shareholders voted FOR the approval, on an advisory basis, of the Company's executive compensation; FOR the ratification of the appointment of KPMG LLP as Darden's independent registered public accounting firm for the fiscal year ending May 31, 2015; FOR a management proposal to amend the Company's bylaws to provide for proxy access; and AGAINST two shareholder proposals as described in the Company's associated Proxy Statement.

You Searched For "betsy atkins" and got 9 results

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OYO is beefing up its board of directors – the second board appointment this year is a former FBI consultant

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We've seen tech M&A booms before - but something is different this time around

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