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New Delhi: The central government has approved the appointment of a new Chairman and <keyword id="19899229" type="General" weightage="20" keywordseo="Managing-Director" source="keywords">Managing Director</keyword> of the <keyword id="19934368" type="General" weightage="100" keywordseo="State-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="State Bank of India" meta.hostid="261" meta.entityid="State Bank of India">State Bank of India</keyword> (<keyword id="19898108" type="General" weightage="20" keywordseo="sbi" source="keywords">SBI</keyword>) as the current Chairman, <keyword id="20944427" type="General" weightage="20" keywordseo="Dinesh-Kumar-Khara" source="keywords">Dinesh Kumar Khara</keyword>, is set to retire on August 28. According to a notification by the Department of Personnel &amp; Training, the Appointments Committee of the Cabinet (ACC) on August 6 approved the proposal of the Department of Financial Services for the appointment of <keyword id="22230591" type="General" weightage="20" keywordseo="Challa-Sreenivasulu-Setty" source="keywords">Challa Sreenivasulu Setty</keyword> as chairman of SBI. The ACC has approved the appointment of Setty, 59, the current Managing Director (MD) of SBI as the new Chairman of the country's biggest lender, for a period of three years, effective from the date he assumes office, on or after August 28, 2024. The government order states, "The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Department of Financial Services for the appointment of Shri Challa Sreenivasulu Setty (DOB: 26.09.1965), Managing Director (MD), State Bank of India (SBI) as Chairman, SBI for a period of three (03) years w.e.f. the date of assumption of charge of the office, on or after 28.08.2024." Additionally, Rana Ashutosh Kumar Singh, the current Deputy Managing Director (DMD) of SBI, has been appointed as the new Managing Director. His appointment will take effect from the date he assumes office. The government order read, "The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Department of Financial Services for appointment of Shri Rana Ashutosh Kumar Singh, Deputy Managing Director (DMD), State Bank of India (SBI) as Managing Director (MD) in SBI with effect from the date of assumption of office." According to SBI, Challa Sreenivasulu Setty joined the Board of SBI as Managing Director in January 2020 and currently oversees International Banking, Global Markets, and Technology wings of the Bank. He has previously headed the Retail &amp; Digital Banking vertical and various task forces/committees formed by the Government of India. Setty holds a Bachelor of Science in Agriculture and is a Certified Associate of the Indian Institute of Bankers. He began his career with SBI in 1988 as a Probationary Officer. Over his three-decade-long career, he has gained rich experience in corporate credit, retail, digital, and international banking, as well as banking in developed markets. Setty has also held key positions within SBI, including Deputy Managing Director - Stressed Assets Resolution Group, Chief General Manager, and General Manager in the Corporate Accounts Group, Deputy General Manager in the Mid-Corporate Group, and Vice President &amp; Head (Syndications) at SBI's New York Branch. (ANI)

Centre approves appointments of new Chairman, Managing Director of State Bank of India

<div type="image" title="Companies are embracing the unbossing trend" msid="113256383" hostid="261" sizebytes="1440779"></div> If there’s one thing both a productive team member and an underperformer hates in the corporate world, it’s being micromanaged. Now, imagine a workplace where the boss isn’t calling all the shots. Instead, everyone has a voice, and innovation flows freely. The recent corporate trend of "Unbossing" promises to do just that, empowering employees by eliminating the heavy hands of hierarchy. Sounds too good to be true? Well, globally, not just the new-age start-ups, but dozens of major corporations have embraced this trend and trimmed their middle management. <h2>Managers managing managers — no more!</h2>In January last year, <keyword id="399907" type="General" weightage="20" keywordseo="META" source="Orion">Meta</keyword> CEO Mark Zuckerberg made headlines for declaring 2023 as the “year of efficiency” and saying that he doesn’t want a management structure that's just “managers managing managers”. <div type="image" title="Meta CEO Mark Zuckerberg" agency="ANI" msid="113256403" hostid="261"></div> The same month, it was also reported by Command Line that Meta's chief product officer Chris Cox, had shared a post on the company's communication platform, Workplace, highlighting the necessity to "flatten" the organisation's structure. What followed was reports of Meta slashing middle management roles. Gradually, other companies like Shopify, Bayer, and Cisco began making headlines for showing the exit door to some of their middle managers. Loosely, unbossing is essentially cutting down the middle management roles. It cuts significant costs for the company and the new-age workforce also endorses the trend as efficient in enabling faster decision-making and innovation. However, critics argue this trend also limits the extent of mentorship that the younger generation receives while entering the workforce, which often remains an intangible value if your boss turns out to be a good mentor. Therefore, for some, it’s not about firing the middle management, but just another leadership philosophy on how leaders (and ‘bosses’) should conduct themselves. This approach advocates bosses working along with the team as a part rather than shouting instructions from the top. Whatever one’s understanding, this trend of “Unbossing” appears to be taking corporate America by storm in 2023, as evidenced by hundreds of media reports highlighting the same. Overall, most agree that the trend is restructuring organisational hierarchy to enable direct communication between employees and leaders. Cut to 2024, this trend is still prevalent and making headlines. A Bloomberg report recently said that Georges Elhedery, the incoming CEO of HSBC Holdings, might also consider plans to streamline the company's operations by reducing layers of middle management. But what’s the scenario in India? Are Indian companies ready to ditch the old-school approach and adopt this new way of working? Let’s dive in and see what the experts have to say! <h2>Layoffs to impact senior professionals: Naukri.com survey</h2>A survey by job portal Naukri.com early last year had suggested that recruiters in India expect a decline in layoffs during the first half of 2023. The survey, which included responses from 1,400 recruiters and consultants across ten industries, revealed that only 4 percent of participants anticipated layoffs to be the main focus of hiring activities within their organisations. However, the survey also highlighted that information technology roles and senior professionals were likely to be the most affected by hiring adjustments. About 20 percent of recruiters predicted that layoffs would predominantly impact senior professionals, while freshers are expected to face the least disruption from these hiring corrections. Interestingly the survey came around the same time when the Unbossing trend had begun picking up pace abroad. <h2>Layoffs at Wipro, <keyword id="18635" type="General" weightage="20" keywordseo="amazon" source="Orion">Amazon</keyword> and Collegedunia</h2>In January this year, Wipro India was in the limelight for laying off hundreds of its mid-level executives. The company reportedly culled many jobs as part of its strategy to improve margins. An ET report citing two sources familiar with the situation had said that the leading Indian IT firm reduced mid-level roles at its onsite locations. "Notices began being issued earlier this month, and hundreds of mid-level executives onsite are being let go," one source revealed. Another source added, "They have costly resources onsite in Capco, and although growth is returning, it's not sufficient. Aparna Iyer, Wipro's chief financial officer, has been tasked with delivering better margins this quarter." <div type="image" title="Amazon decided to lay-off middle managers in May" msid="113256170" hostid="261"></div>Then in May, Amazon also decided to reduce layers of middle management within its customer service divisions as part of an organisational restructuring, a Fortune report had said. The cuts impacted over 100 customer service managers in Level 5 and Level 6 middle management roles, both in call centres and virtual positions, primarily based in the U.S. and India. Not just large tech companies, startups too seem to be adapting the <keyword id="23125775" type="General" weightage="100" keywordseo="unbossing-trend-in-India" source="Orion">unbossing trend in India</keyword>. Last month, educational portal Collegedunia confirmed that around 100 employees from its Study Abroad department had been given the pink slip. A report in CNBC-TV18 had said that additional job cuts were happening across other departments as part of a broader reorganisation. The restructuring, as per the report, was aimed at automating many tasks to reduce costs. Interestingly, despite the layoffs, Collegedunia had posted 13 job openings on LinkedIn for various roles in different locations, primarily entry-level positions requiring up to two years of experience. "While Collegedunia is laying off several employees, it is also hiring fresh talent, allowing them to keep staffing levels up but at a lower cost," one employee told CNBC-TV18 at the time. Another source confirmed that while Collegedunia had been actively recruiting for some months, it has also been letting go of employees, including senior staff members with 7-8 years of experience at the company. <h2>What do experts say?</h2> <div type="image" title="Experts&amp;#39; opinion on unbossing trend" msid="113256250" hostid="261"></div>Mr. Sumit Kumar, Chief Strategy Officer at TeamLease Degree Apprenticeship, told Business Insider India, “From the perspective of HR leaders and CEOs, the strategic culling of middle management is viewed as a means to streamline operations, reduce overhead, and foster a culture of autonomy and innovation.” He also noted that even though employees can “exercise greater ownership and agility in decision-making” through this approach, there are also significant downsides. “The erosion of middle management creates a vacuum in leadership development, mentorship, and the retention of institutional knowledge, potentially leading to disengagement, a weakened talent pipeline, and misalignment with organisational objectives,” Kumar noted. Talking specifically about the Indian scenario, he said, “Implementing this trend in India would be a strategic move, positioning organisations to remain competitive in a rapidly evolving business environment. However, to fully capitalise on this approach, developing a more robust talent pipeline that integrates the ability to multitask at all levels is imperative. In today's landscape, leadership demands thinkers, strategic visionaries, and individuals who can execute with precision. We need to cultivate a new breed of leaders who are both thinkers and doers, capable of navigating complex challenges while driving innovation and growth. By building versatile, agile leaders through targeted talent development programs, Indian organisations can ensure they are well-prepared to thrive in a decentralised, high-performance environment.” RP Yadav, Chairman and Managing Director of Genius Consultants Limited, told ET recently that the Unbossing approach simplifies hierarchies and encourages open communication between frontline employees and senior management. He had added that the concept of “the oldest in the room is always the wisest of all” is no longer applicable. Meanwhile, Aditya Narayan Mishra, MD and CEO of CIEL HR Services told ET that the unbossing trend is predominantly seen in tech companies, creative roles, and startups, where swift decision-making and the unrestricted exchange of ideas are crucial. For example, the tech sector often thrives with flattened hierarchies that support rapid innovation and agility, while creative industries such as advertising and media use unbossing to cultivate a more collaborative and idea-focused environment. Thus, the unbossing trend is gaining traction beyond global companies and is finding its way into Indian organisations as well. While this approach can streamline operations, reduce costs, and enhance agility, experts caution that it also brings challenges, such as gaps in leadership development and the loss of institutional knowledge. To fully harness the benefits of unbossing, Indian companies must focus on cultivating agile leaders who can navigate complex challenges and drive growth. By building a strong talent pipeline and fostering a culture of innovation and collaboration, Indian organisations can position themselves to thrive in a more decentralised and dynamic business environment. Do you have insights or personal experience to s hare on layoffs, <keyword id="34447" type="General" weightage="20" keywordseo="workplace-trends" source="Orion">workplace trends</keyword>, or career changes? Contact us at businessinsider@timesinternet.in.

SIMPLY PUT: What’s with all “Unbossing” talks? Are Indian companies also embracing this global trend?

The total remuneration of ITC Chairman and Managing Director <keyword id="1968926" type="General" weightage="20" keywordseo="sanjiv-puri" source="Orion">Sanjiv Puri</keyword> was increased 53.08% to ₹16.31 crore for financial year 2022-23. Puri drew a basic salary of ₹2.88 crore, perquisites and other benefits of ₹57 lakh and a performance bonus/long-term incentives/commission of ₹12.86 crore from ITC for 2022-23. A year ago, Puri's total remuneration was ₹10.66 crore, which included a basic salary of ₹2.64 crore, perquisites and other benefits of ₹49.63 lakh. However, his performance bonus/commission was ₹7.52 crore only in FY22. During the annual general meeting scheduled for August 11, ITC has proposed a resolution for re-appointment of Puri as a director and also as managing director &amp; chairman for five years or till such earlier date to conform with the policy on retirement from July 22, 2024. Puri was appointed as Managing Director of ITC on July 22, 2019, and his present term will end on July 21, 2024. After Puri, Nakul Anand is the second highest-paid employee of ITC with a total remuneration of ₹8.18 crore for FY23. He is followed by B Sumant with ₹ 7.58 crore. Anand oversees the hospitality and travel &amp; tourism businesses of ITC, while Sumant oversees the paperboards, paper and packaging as well as the personal care and education &amp; stationery products businesses of the company. According to ITC, "Remuneration of KMPs (Key Managerial Personnel) increased by 28% due to impact of revision in remuneration and payment of long-term incentives during the year." Moreover, the number of persons drawing a salary of more than ₹1 crore per annum was over 245 in FY23. In FY22, the number of such employees was around 220. Compared with financial year 2021-22, the median remuneration of employees has decreased 3%, while the average remuneration of employees has increased by 6%. Puri's ratio of remuneration to the median remuneration of all employees is 326:1. As on March 31, 2023, the total number of permanent employees in ITC was 23,725.

ITC CMD Sanjiv Puri drew ₹16.31 crore salary in FY23 - that's a 53% jump from last year

<ul class="summary-list"><li>Secret Service Director Kimberly Cheatle resigned on Tuesday.</li><li>Her decision came as even top Democrats lost faith in her leadership.</li></ul>Secret Service Director <a target="_blank" class="" href="https://www.businessinsider.com/secret-service-director-admits-trump-shooting-worst-failure-decades-2024-7">Kimberly Cheatle</a> on Tuesday resigned after enduring days of criticism following an attempted assassination of former President Donald Trump."I take full responsibility for the security lapse," she said in the email to staff Tuesday, The Associated Press reported. "In light of recent events, it is with a heavy heart that I have made the difficult decision to step down as your director."Cheatle testified before Congress on Monday, calling the attempt "the most significant operational failure at the Secret Service in decades."Republicans quickly turned on Cheatle in the wake of the attempt on Trump's life. It didn't help matters that the agency said little publicly in the wake of the shooting. Cheatle, who went to the Republican National Convention in Milwaukee, was harangued by GOP senators who followed her out, shouting questions at her about the security failures. Chris LaCivita, one of Trump's campaign managers, called for her to resign last week. On Monday, Rep. Jamie Raskin of Maryland, the top Democrat on the House Oversight Committee, issued a joint statement with Rep. James Comer of Kentucky, the committee's Republican chairman, which signaled that Cheatle's survival had become untenable.Comer said that Cheatle's resignation was "a step toward accountability," but stressed that more needs to be known about what happened to prevent anything like it from occurring again."The Secret Secret has a no-fail mission yet it failed historically on Director Cheatle's watch," Comer said in a statement.President Joe Biden, who named Cheatle director in 2022, praised her "for decades of public service.""As a leader, it takes honor, courage, and incredible integrity to take full responsibility for an organization tasked with one of the most challenging jobs in public service," Biden said in a statement released by the White House.Biden has ordered an independent review into the <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-butler-pennsylvania-rally-secret-service-2024-7">assassination attempt</a> that occurred at Trump's July 13 rally in Butler, Pennsylvania. The president said he will name a new director "soon."The Secret Service has been the subject of <a target="_blank" class="" href="https://www.businessinsider.com/trump-shooting-assassination-attempt-secret-service-past-scandals-2024-7">multiple scandals </a>in recent years, but nothing on the scale of the assassination attempt. Corey Comperator, a former fire chief, was killed during the shooting. Two other attendees were injured. Trump has said he sustained a gunshot wound to his ear."I will tell you exactly what happened," Trump said during his speech at the Republican National Convention last week. "And you'll never hear it from me a second time, because it's actually too painful to tell."Trump said that he heard a "loud whizzing sound" as the bullet struck him while he turned his head.Multiple investigations are ongoing into how a shooter could get line of sight and then fire multiple shots at Trump. House Speaker Mike Johnson and House Minority Leader Hakeem Jeffries announced Tuesday that a bipartisan task force would also investigate what happened.This is a breaking news story. Stay with Business Insider for more updates.

Embattled Secret Service director resigns after Trump assassination attempt  

<ul class="summary-list"><li>Netflix co-CEO Ted Sarandos doesn't think actors and directors are going to be replaced by AI programs.</li><li>"AI is not going to take your job. The person who uses AI well might take your job," he added.</li></ul>Movie creatives and actors aren't going to lose their jobs to an AI program just yet, says <a target="_blank" href="https://www.businessinsider.com/netflix-top-streaming-service-headwinds-competition-2024-1">Netflix</a> co-CEO <a target="_blank" href="https://www.businessinsider.com/netflixs-content-chief-ted-sarandos-named-co-ceo-2020-7">Ted Sarandos</a>, 59."I don't believe that an AI program is going to write a better screenplay than a great writer, or is going to replace a great performance, or that we won't be able to tell the difference," Sarandos told The New York Times in an <a target="_blank" href="https://www.nytimes.com/2024/05/25/magazine/ted-sarandos-netflix-interview.html">interview</a> published Saturday."AI is not going to take your job. The person who uses AI well might take your job," he added.Sarandos was <a target="_blank" href="https://about.netflix.com/en/news/leadership-update">appointed Netflix co-CEO in July 2020</a>, serving alongside the company's founder <a target="_blank" href="https://www.businessinsider.com/netflix-reed-hastings-company-culture-big-tech-severance-candor-performance-2024-4">Reed Hastings</a>. When Hastings stepped down as co-CEO to become Netflix's executive chairman in January 2023, he was <a target="_blank" href="https://about.netflix.com/en/news/ted-sarandos-greg-peters-co-ceos-netflix">replaced by the company's COO Greg Peters</a>.AI, Sarandos said, would have a similar impact on the entertainment industry as other past technological advancements."Remember how everybody fought home video? For several decades, the studios wouldn't license movies to television," Sarandos told The Times."So every advancement in technology in entertainment has been fought and then ultimately has turned out to grow the business. I don't know that this would be any different," he continued.Sarandos' comments are surprising considering the streaming giant's <a target="_blank" href="https://www.businessinsider.com/how-netflix-uses-data-creative-decisions-renew-tv-films-analytics-2022-9">use of data and analytics to guide their creative decisions</a>.Last year, Netflix said it was <a target="_blank" href="https://www.businessinsider.com/netflix-ai-salary-manager-role-amid-writers-strike-2023-7">recruiting a product manager for an AI-focused role</a>. The listing, which offered a salary range of $300,000 to $900,000, said that AI would be used across Netflix's operations, including helping the company buy and "create great content."Representatives for Netflix didn't immediately respond to a request for comment from BI sent outside regular business hours.The rise of AI in the past year has rattled both Hollywood and the wider entertainment industry, with many creatives expressing concern on how the technology could affect their livelihoods.Last year, both the <a target="_blank" href="https://www.businessinsider.com/hollywood-writers-strike-wga-picket-lines-streamers-studios-netflix-disney-2023-5">Writers Guild of America</a>, or WGA, and the <a target="_blank" href="https://www.businessinsider.com/actors-revealing-how-little-money-make-sag-aftra-strike-2023-7">actors union SAG-AFTRA</a> went on strike over issues such as <a target="_blank" href="https://www.businessinsider.com/why-sag-aftra-actors-wga-writers-unions-strike-hollywood">compensation</a> and the <a target="_blank" href="https://www.businessinsider.com/hollywood-writers-strike-over-technology-ai-netflix-streaming-studios-2023-7">threat posed by artificial intelligence</a>.Members for both groups believed that cost-conscious studios could use AI to <a target="_blank" href="https://www.businessinsider.com/james-cameron-ai-scripts-regurgitated-word-salad-2023-7">supplant writers </a><a target="_blank" href="https://www.businessinsider.com/actors-strike-union-ai-body-likeness-scan-background-extras-2023-7">and actors</a> in their productions.The WGA strike <a target="_blank" href="https://www.businessinsider.com/hollywood-studios-and-writers-reached-agreement-to-end-strike-2023-9">lasted nearly 150 days</a>, running from May 2023 to September 2023. Likewise for the SAG-AFTRA strike, which started in July 2023 and ended in November 2023, <a target="_blank" href="https://www.businessinsider.com/sag-aftra-strike-end-tentative-agreement-2023-10">after 118 days</a>.In February, <a target="_blank" href="https://www.businessinsider.com/openai-ai-sam-altman-ilya-sutskever-crisis-resignations-chatgpt-2024-5">OpenAI</a> wowed the world when it released its text-to-video model <a target="_blank" href="https://www.businessinsider.com/sam-altman-openai-video-text-model-creator-sora-leading-google-2024-2">Sora</a>.The model, which takes its name from the Japanese word for "sky," is able to <a target="_blank" href="https://www.businessinsider.com/openai-sora-pros-cons-video-creators-2024-5">generate high quality videos</a> with just simple text prompts."I was in the middle of, and have been planning for the last four years, about an $800 million expansion at the studio," filmmaker and actor <a target="_blank" href="https://www.businessinsider.com/tyler-perry-ai-studio-productions-movies-2024-2">Tyler Perry</a> told <a target="_blank" href="https://www.hollywoodreporter.com/business/business-news/tyler-perry-ai-alarm-1235833276/">The Hollywood Reporter</a>. "All of that is currently and indefinitely on hold because of Sora and what I'm seeing."

Netflix chief doesn't think AI programs are going to replace writers, actors, and directors

<ul class="summary-list"><li>Justin Baldoni has hired a PR crisis team amid the drama surrounding "It Ends With Us."</li><li>The rumored feud between the actor and his costar, Blake Lively, has made headlines in recent weeks.</li></ul>"<a target="_blank" class="" href="https://www.businessinsider.com/it-ends-with-us-differences-between-colleen-hoover-book-movie-2024-8">It Ends With Us</a>," the new movie starring Blake Lively and Justin Baldoni, has quickly become a box office hit, <a target="_blank" class="editor-rtfLink" href="https://www.boxofficemojo.com/release/rl3818881793/?ref_=bo_hm_rd">surpassing $200 million globally</a> since its release earlier this month.While there are <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/it-ends-with-us-blake-lively-controversy-became-box-office-hit-2024-8">several reasons behind the film's success</a>, one thing that may have led to added interest is the <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/it-ends-with-us-blake-lively-justin-baldoni-feud-rumors-2024-8">rumored feud </a>brewing off-screen between the film's lead and her costar/director, Baldoni.The reported falling out has made headlines in recent weeks and led to a reexamination of <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/blake-lively-resurfaced-interview-little-bump-comment-reporter-infertility-issues-2024-8">Lively's past</a>, with many criticizing the star's previous behavior.But while Lively is now trying <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/blake-lively-backlash-it-ends-with-us-promotion-save-reputation-2024-8">to save her reputation</a>, Baldoni has been navigating the changing tides of public opinion with a move from the celebrity scandal playbook — hiring <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/meet-the-top-pr-people-in-crisis-communications-2023-9">a PR crisis team</a>.<div type="image" title="Justin Baldoni didn't pose with other cast members at the New York premiere of &quot;It Ends With Us&quot; earlier this month." height="4000" width="6000" msid="112786272" hostid="261" sizebytes="681764"></div>The actor and director, who rose to fame starring in the sitcom "Jane the Virgin," has sought the help of veteran public relations manager Melissa Nathan, according to <a target="_blank" class="editor-rtfLink" href="https://www.hollywoodreporter.com/movies/movie-news/justin-baldoni-hires-pr-crisis-manager-melissa-nathan-it-ends-with-us-1235973715/">The Hollywood Reporter</a>."This was the right move for him," Megan Balyk, a PR expert and vice president of Jive PR + Digital, told Business Insider. "We always recommend hiring a reputation management firm before you need it.""I think this shows us that Justin doesn't trust Blake and believes she will try to control the narrative. He's trying to ensure this outcome doesn't negatively impact his career," Balyk added.Eric Schiffer, chairman of Reputation Management Consultants, said that one of the first things Baldoni likely would have done with his new crisis team was to lay out "what truly went down behind the scenes."<div type="image" title="Justin Baldoni as Ryle Kincaid and Blake Lively as Lily Bloom in &quot;It Ends With Us.&quot;" height="1333" width="2000" msid="112786274" hostid="261" sizebytes="168988"></div>The public hasn't yet got the full picture of this.It was only after people noticed that the pair weren't interacting during the film's promotional tour this month that people started digging into what had occurred and came up with a variety of wild theories.<a target="_blank" class="editor-rtfLink" href="https://www.tmz.com/2024/08/14/blake-lively-justin-baldoni-fat-shamed-it-ends-with-us/">TMZ</a> and <a target="_blank" class="editor-rtfLink" href="https://pagesix.com/2024/08/14/celebrity-news/blake-lively-was-visibly-angsty-on-the-set-of-it-ends-with-us/">Page Six</a> have since reported on tension on the set of the movie, while <a target="_blank" class="editor-rtfLink" href="https://www.hollywoodreporter.com/movies/movie-news/blake-lively-justin-baldoni-it-ends-with-us-drama-what-we-know-1235969708/">unnamed sources told The Hollywood Reporter</a> that further problems occurred in post-production when two different cuts of the movie emerged.Baldoni would need to fill in the gaps to his PR team, confirming or denying the reported rumors and giving his team the full picture, Schiffer said."Once you have that, you can formulate a battle plan," he continued. "A big part of this is ensuring you don't detonate problems that can explode.""But if things are favorable, it can benefit the client to 'leak' the truth if it's not already out there," Schiffer added.<div type="image" title="Blake Lively and Justin Baldoni filming a scene from &quot;It Ends With Us&quot; in May 2023." height="1500" width="2000" msid="112786273" hostid="261" sizebytes="141268"></div>There was some speculation online that journalist Kjersti Flaa may have been part of a smear campaign against Lively after she <a target="_blank" class="editor-rtfLink" href="https://www.youtube.com/watch?v=F2-2RBi1qzY&amp;t=2s">reuploaded to YouTube </a>a 2016 interview with the actor and titled it: "The Blake Lively interview that made me want to quit my job."The now-viral interview showed Lively acting hostile toward the reporter after she congratulated the star on her pregnancy.Speaking to <a target="_blank" class="editor-rtfLink" href="https://www.dailymail.co.uk/femail/article-13750309/blake-lively-interview-kjersti-flaa-bump-comment-ends-movie.html">MailOnline</a>, Flaa said of her motivation to share the footage: "It's time that people behaving badly in Hollywood, or anywhere else for that matter, gets called out for it. It's not OK, even if you are rich and famous."There's no evidence that the public's sudden pile-on of Lively is Baldoni's crisis team in action.Instead, as Schiffer said, Baldoni has "been given a gift because of the distracting components that have arisen" concerning the former "<a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/gossip-girl-stars-ranked-from-least-to-most-successful-2021-7">Gossip Girl" star</a>."The last thing Justin's going to want to do is redirect that attention back onto him," he said."The rule is if the other side is destroying themselves because of bad choices, you don't change the subject. You allow that to play out," he added.Balyk said that the actions Baldoni has taken already have helped give him the image of someone down-to-earth with the best interests of those who might relate to the movie in mind.Recent social media posts show him <a target="_blank" class="editor-rtfLink" href="https://www.tiktok.com/@justinbaldoni/video/7401601053659024670?is_from_webapp=1&amp;web_id=7377785834761881134">with his family</a> talking about what inspired him to get into acting and <a target="_blank" class="editor-rtfLink" href="https://www.instagram.com/p/C_A10qzxJhG/">surprising fans</a> at screenings in the US.Meanwhile, in interviews, he has <a target="_blank" class="editor-rtfLink" href="https://www.facebook.com/watch/?v=509011211621775">spoken graciously about Lively </a>and shifted attention to "<a target="_blank" class="editor-rtfLink" href="https://www.facebook.com/EntertainmentTonight/videos/509011211621775/">all the women who we made this movie for</a>."While much has been made of the fact that Baldoni's new crisis team previously represented Johnny Depp during his high-profile <a target="_blank" class="" href="https://www.businessinsider.com/johnny-depp-amber-heard-relationship-timeline-2020-7">court battle against Amber Heard</a>, Balyk said that that likely had more to do with the fact that Baldoni needs a heavyweight fighting his corner, given that Lively and <a target="_blank" class="" href="https://www.businessinsider.com/blake-lively-and-ryan-reynolds-relationship-timeline-2019-5">her husband Ryan Reynolds</a> likely have an "equally strong PR team that is likely on standby.""While Melissa Nathan has handled controversial cases like Johnny Depp's trial, her expertise in the entertainment industry is unparalleled, which is necessary given that one of the most powerful couples in Hollywood has a direct hand in the film," she said.As for how Baldoni should proceed, Schiffer said he just needed to "allow things to play out.""When it comes down to it, Justin has a successful movie. Right now, the focus is not on him but on Blake and her choices, and that's where I suggest he try and keep it," he added.

The Blake Lively backlash has been 'a gift' for Justin Baldoni after he was forced to hire a PR crisis manager amid rumored 'It Ends With Us' feud, PR expert says     

<keyword id="6405378" type="General" weightage="20" keywordseo="gautam-singhania" source="Orion">Gautam Singhania</keyword>, Chairman and Managing Director of Raymond on Monday issued a statement to announce separation from his wife, <keyword id="201967" type="General" weightage="20" keywordseo="Nawaz-Modi-Singhania" source="Orion">Nawaz Modi Singhania</keyword>. Singhania wrote on X that Diwali is not going to be the same for him this year. "This Diwali is not going to be the same as many in the past. 32 years of being together as a couple, growing as parents and always being a source of strength to each other... we traversed with commitment, resolve, faith as along came the two most beautiful additions of our lives." "It is my belief that Nawaz and I will pursue different paths from here on... I am parting ways with her while we will continue to do what is the best for our two precious diamonds Niharika and Nisa," Singhania said in the post. He added that there has been a lot of rumour mongering and gossip around his family "fanned by not so well wishers". Earlier media reports said that Nawaz Modi Singhania, wife of Gautam Singhania, was allegedly stopped from attending her husband's Diwali party in Thane, last week. Nawaz Modi Singhania reportedly recorded the video of the incident which has gone viral. In the video, Nawaz can be heard saying that she was standing outside JK Gram. Nawaz Modi Singhania alleged that she was invited for the party but now she was not allowed to enter the premises, as per media reports.

Raymond's Gautam Singhania announces separation from wife Nawaz Modi Singhania

<ul><li>Risk management must be driven by the understanding of what is good for the corporate, said M Damodaran, Chairperson, Excellence Enablers and former Chairman, Sebi.</li><li>FICCI-GRMI Model Risk Code is a toolkit to sensitise senior officials and corporate boards on risk assessment and mitigation processes.</li><li>The Securities and Exchange Board of India (Sebi) mandates that the top 1000 companies listed must have risk management procedures. </li></ul>Risk management must be driven by the understanding of what is good for the corporate, said M Damodaran, Chairperson, Excellence Enablers and former Chairman, Sebi."The success of the risk code will be when people look at it, not as a direction or something that is mandated, but as the distilled wisdom of persons in corporate India and see how to apply that to their own corporate," the former chairman said at the release of the FICCI -- GRMI Model Risk Code on Friday. FICCI-GRMI Model Risk Code is a toolkit to sensitise senior officials and corporate boards on risk assessment and mitigation processes. The Securities and Exchange Board of India (Sebi) mandates that the top 1000 companies listed must have risk management procedures. However, while releasing the Model Code, Damodaran said risk management could be a voluntary exercise for others. "I am not a great believer in something being drafted into law", he said, adding, "if they don't see the value, it might end up as one more tick box," but whether it will add to corporate well-being is suspect. "Don't mandate because mandating comes with a cost". On occasion, <keyword id="462786" type="General" weightage="80" keywordseo="sidharth-birla" source="Orion">Sidharth Birla</keyword>, Past President, FICCI, said evaluating and addressing risk is a critical attention area for boards. "Any framework that helps businesses take more informed and risk-intelligent decisions should be most welcome," he said. In this context, he added, the Model Risk Code addresses entities of all sizes, including non-listed and private entities and can be of great significance in building risk maturity, should they choose to draw upon the Code. "This code will support boards as accountability increases with each passing day," he said. During the launch ceremony, <keyword id="838661" type="General" weightage="80" keywordseo="subodh-bhargava" source="Orion">Subodh Bhargava</keyword>, GRMI Board Chairman, said the Code was going to be a toolkit to bring about a change in the mindset of corporate boards and senior officials, and make risk assessment and risk mitigation processes a part of their DNA. Subhashis Nath, Founder and CEO - GRMI, former Senior Vice President and Service Line Leader for Enterprise Risk and Compliance, Genpact, said there was a significantly increased expectation from the corporate world, which requires corporate India to be more resilient, agile, and future proof. He added, "the model risk code intends to be a playbook, a guide or toolkit, to ensure boards and CEOs have an effective enabler to embed risk into their DNA." Anita George, Independent Director, Piramal Enterprise and former Executive Vice President and Deputy Head of CDPQ Global, said that while the risk was always there, the pace, unpredictability, volatility, and the myriad types of risks that are coming at us are making us aware that we need to have someone in the organisation who is firefighting, not just on a day-to-day basis, but more strategically. <keyword id="216369" type="General" weightage="80" keywordseo="richard-rekhy" source="Orion">Richard Rekhy</keyword>, Board Member of KPMG Dubai and former chief executive officer of KPMG India, noted that risk management was entirely about the business and has to be led by the CEO. Alluding to the Covid crisis, Rekhy noted that "post-Covid, the companies that bounced back faster are the ones that had better risk management practices." <keyword id="245593" type="General" weightage="80" keywordseo="mukesh-butani" source="Orion">Mukesh Butani</keyword>, Founding and Managing Partner, BMR Legal, <keyword id="204991" type="General" weightage="80" keywordseo="rajan-saxena" source="Orion">Rajan Saxena</keyword>, former Vice Chancellor of the SVKM's NMIMS, and Ritu Chawla Kochhar, India Head, Spencer Stuart, were also present at the occasion. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/government-invites-suggestions-for-union-budget-2023-24/articleshow/95799750.cms">Government invites suggestions for union budget 2023-24</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/india-needs-1000-pilots-annually-but-training-infra-in-short-supply/articleshow/95799701.cms">India needs 1,000+ pilots annually, but training infra in short supply</a>

Risk management must be driven by understanding of what is good for corporate: Ex-chairman Sebi

The ED said that the three properties belonging to <keyword id="6320" type="General" weightage="20" keywordseo="Munjal" source="Orion">Munjal</keyword> were attached under the Prevention of Money Laundering Act, 2002. The ED probe found that Munjal got issued "foreign exchange or foreign currency" in the name of other persons and thereafter utilised the same for his personal expenditure abroad. "The foreign currency or foreign exchange was drawn from authorised dealers by an event management company in the name of various employees and thereafter handed over to Munjal's relationship manager," the ED said. It said that the relationship manager carried such foreign currency or foreign exchange in cash or card secretly for the personal expenditure of Munjal during his personal or business trips. "The modus was adopted to override the limits of US$ 2.5 lakh per annum per person under the Liberalised Remittance Scheme," the ED said. The ED had earlier conducted search operations on August 1 with respect toMunjal and related entities or persons, and seized valuablesworth Rs 25 crore along with digital evidence and other incriminating documents. "The total value of seizure and attachment stands at about Rs 50 crore," the ED said. The ED case is on the basis of a charge sheet filed by Directorate of Revenue intelligence (DRI) against Munjal and others for taking foreign exchange or currency out of India illegally. The charge sheet alleges that foreign currency or foreign exchange equivalent to Rs 54 crore was illegally taken out of India.

ED attaches three properties of Hero Motocorp CMD & Chairman Pawan Munjal

Ride-hailing platform <keyword id="6354720" type="COMPANY" weightage="20" keywordseo="ola">Ola</keyword> on Thursday said it has appointed Mike <keyword id="6585757" type="COMPANY" weightage="20" keywordseo="rake">Rake</keyword> as non-executive Chairman and <keyword id="11292176" type="PERSON" weightage="20" keywordseo="leon-daniels">Leon Daniels</keyword> as an independent non-executive director to the Ola UK Board. Rake and Daniels will draw on deep experience across the private and public sectors to provide the strongest possible oversight, corporate governance, and strategic counsel to Ola as it continues to grow and scale, Ola said in a statement. They will join Balasubrahmanyam Vijay Juturi, alongside Marc Rozendal (<keyword id="24973" type="COMPANY" weightage="20" keywordseo="managing-director">Managing Director</keyword>, Ola UK) and Karl Lutzow (Operations Director, Ola UK) on the board, it added. "We are delighted to welcome Sir Mike and Leon to the Ola UK Board. As a scaled, global business with a major presence in the UK, the appointment of such high-quality independent board members underlines our commitment to the UK and the scale of our ambition in this dynamic market," Bhavish Aggarwal, Chairman and Group CEO at Ola, said. Ola had launched operations in the UK in 2018. Currently, Ola operates across 27 local authorities, including Birmingham, Liverpool and Bristol. It has also expanded its offering for UK riders, including the launch of <keyword id="3202683" type="COMPANY" weightage="20" keywordseo="Ola-Corporate">Ola Corporate</keyword>. Sir Mike Rake is one of the UK's leading business figures. He joins Ola having previously served in a range of senior boardroom roles, including as Chairman of Worldpay Group plc (2015-2018), BT Group plc (2007-2017), EasyJet plc (2010-2013) and International Chairman of <keyword id="50041" type="COMPANY" weightage="20" keywordseo="KPMG">KPMG</keyword> (2002-2007), along with serving as President of the <keyword id="50463" type="COMPANY" weightage="20" keywordseo="Confederation-of-British-Industry">Confederation of British Industry</keyword> (2013-2015). "The application of technology to mobility holds out an exciting future of cleaner, safer and more efficient transportation for millions of UK passengers, and I look forward to helping Ola continue to do what they do best - innovate for the benefit of society," Rake said. Leon Daniels served as Managing Director, Surface Transport at Transport for London until 2017 and previously held the position of Commercial Director at UK Bus, overseeing new ventures in the UK and international transport. In 2019, he was awarded an OBE for Services to Transport in recognition of his expertise and experience across the UK, Europe, and Asia. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/cryptocurrency-crash-brings-down-binance-wazirx-and-other-exchanges-users-fume-as-orders-fail/articleshow/82793305.cms">Cryptocurrency crash brings down Binance, WazirX and other exchanges – users fume as orders fail</a> <a href="https://www.businessinsider.in/retail/news/a-cup-of-regular-tea-has-never-been-this-expensive-in-india-thanks-to-kooky-weather/articleshow/82792489.cms">A cup of regular tea has never been this expensive in India, thanks to kooky weather</a> <a href="https://www.businessinsider.in/science/space/news/the-first-seat-on-jeff-bezos-rocket-to-space-is-selling-for-a-record-high-of-2-8-million/articleshow/82791575.cms">The first seat on Jeff Bezos’ rocket to space is selling for a record high of $2.8 million</a>

Ola appoints Mike Rake as non-executive chairman and Leon Daniels as non-executive director to the UK board

<keyword id="6368261" type="General" weightage="20" keywordseo="raymond" source="Orion">Raymond</keyword> <keyword id="6373267" type="General" weightage="20" keywordseo="independent-directors" source="Orion">independent directors</keyword> say no law requires them to investigate <keyword id="112907" type="General" weightage="20" keywordseo="matrimonial" source="Orion">matrimonial</keyword> <keyword id="6371437" type="General" weightage="20" keywordseo="disputes" source="Orion">disputes</keyword>. "The IDs are alert to ensure that the matrimonial disputes between the two promoter directors do not in any manner affect the capacity of the Chairman &amp; Managing Director to manage the affairs and business of the <keyword id="24975" type="General" weightage="20" keywordseo="company" source="Orion">Company</keyword>," they said. "The IDs, over the last few weeks, have been meeting and monitoring the situation so far as it affects the Company and the minority shareholders; and reiterate their commitment to protect, at all times, the interests of non-promoter minority shareholders, employees and other <keyword id="6396326" type="General" weightage="20" keywordseo="stakeholders" source="Orion">stakeholders</keyword>," they said. "The IDs shall continue to exercise utmost vigilance in watching the evolving situation and shall not hesitate to proactively initiate measures, the moment required, to protect the interests of all stakeholders. The IDs have decided to retain Berjis Desai, senior independent legal counsel, who has no links with the promoters or the Company, for advising the IDs," they said. "The IDs would like to assure the stakeholders that they shall act dispassionately. The paramount consideration shall always be the interests of the Company as a whole and its non-promoter shareholders. Any material development or remedial measures which impacts the Company shall be forthwith communicated in a spirit of complete transparency," they said. "Your actions must protect the company from what proposes to be a long-drawn acrimonious battle between Nawaz Modi and Gautam Singhania," corporate governance advisory firm, Institutional Investor Advisory Services India Limited (IiAS) had written in a letter to independent directors of Raymond Limited. The letter has been addressed to independent directors, Mukeeta Jhaveri, Ashish Kapadia, Dinesh Lal, K Narsimha Murthy and Shiv Surinder Kumar As per media reports, Nawaz Modi Singhania (Nawaz Modi), a board member, alleged that she and her daughter were physically assaulted by Gautam Singhania, the company's Chairman and Managing Director, at JK House (company property) in September 2023. She also alleged that company funds were being used for Gautam Singhania's personal benefit (CEO excesses) - and that she was acting as a whistle-blower of sorts. "Despite such serious and heinous accusations by one board member against another, you have been silent. Investors are worried, which is reflected in the significant erosion in stock price over the past few days. Your silence can be misconstrued - surely you don't want stakeholders thinking that these accusations are to be tolerated," IiAS said.

Raymond independent directors say no law requires them to investigate matrimonial disputes

<ul class="summary-list"><li>Kevin O'Leary has blamed Silicon Valley Bank's management for the bank's implosion.</li><li>O'Leary excoriated the bank's "negligent board of directors" and "idiot management."</li></ul>"Shark Tank" star Kevin O'Leary has thoughts on why Silicon Valley Bank imploded. "The combination of a negligent board of directors @SVB with idiot management is the potent cocktail that led to a disastrous outcome. Why should taxpayers bail them out?" O'Leary tweeted on Sunday."The lesson is simple, never put more than 20% of your liquid assets in any one financial institution," he added. The <a href="https://www.businessinsider.com/personal-finance/fdic" target="_blank" rel="noopener">Federal Deposit Insurance Corporation</a> took control of Silicon Valley Bank on Friday after a <a href="https://www.businessinsider.com/silicon-valley-bank-svb-first-social-media-bank-run-2023-3" target="_blank" rel="noopener">catastrophic bank run</a>. Depositors ran for the exits after Silicon Valley Bank tried and <a href="https://markets.businessinsider.com/news/stocks/silicon-valley-bank-sale-stock-price-bank-run-peter-thiel-2023-3" target="_blank" rel="noopener">failed to raise capital.</a>Silicon Valley Bank's collapse is the largest bank failure in the US since the <a href="https://www.businessinsider.com/personal-finance/what-caused-the-great-recession" target="_blank" rel="noopener">2008 financial crisis</a>. The bank is <a href="https://www.businessinsider.com/svb-auction-bidders-fdic-potential-buyers-2023-3" target="_blank" rel="noopener">now looking for a new buyer</a> but has not found one yet.O'Leary, also known as "Mr. Wonderful," is the chairman of O'Leary Ventures. He <a href="https://www.youtube.com/watch?v=0ns9d9b5V8Q" target="_blank" rel="noopener nofollow">told CNN</a> separately on Monday that he thinks President Joe Biden has, by helping make depositors at Silicon Valley Bank and Signature Bank whole, <a href="https://markets.businessinsider.com/news/stocks/shark-tank-kevin-oleary-bank-stock-regulated-svb-collapse-biden-2023-3">effectively "nationalized" the banking industry.</a>"You have zero risk and that has consequences," O'Leary said. "There's no such thing as a free lunch. And this is going to be very expensive for shareholders of banks long term. I would never put my money into a bank stock ever again."O'Leary isn't the only person who's blamed Silicon Valley Bank's leaders for the crisis. <a href="https://edition.cnn.com/2023/03/13/business/svb-employees-angry-at-ceo/index.html" target="_blank" rel="noopener">CNN</a> spoke to a Silicon Valley Bank employee, who said the bank's CEO Greg Becker and other members of the bank's leadership were naive and handled the crisis badly. "That was absolutely idiotic," the employee, who works in management at the bank, told CNN. "They were being very transparent. It's the exact opposite of what you'd normally see in a scandal. But their transparency and forthright-ness did them in."Jeff Sonnenfeld, the CEO of the Chief Executive Leadership Institute at Yale, also told CNN that Silicon Valley Bank's leadership should be criticized for their "tone-deaf, botched execution."There has been mud-slinging in all directions over the factors that may have contributed to Silicon Valley Bank's failure. <a href="https://www.businessinsider.com/silicon-valley-bank-bernie-sanders-donald-trump-blame-2023-3">Sen. Bernie Sanders</a> says the bank failed because of a Trump-era banking regulation policy. Former President Donald Trump signed a bill into law on May 2018 that significantly rolled back the <a href="https://www.cftc.gov/LawRegulation/DoddFrankAct/index.htm" target="_blank" rel="noopener">2010 Dodd-Frank Wall Street Reform and Consumer Protection Act.</a> This 2018 law raised the asset threshold for systematically important financial institutions from $50 billion to $250 billion, and loosened restrictions on banks like Silicon Valley Bank. Meanwhile, <a href="https://www.businessinsider.com/republicans-blame-woke-politics-for-silicon-valley-banks-collapse-2023-3">Gov. Ron DeSantis</a> and <a href="https://www.businessinsider.com/james-comer-woke-silicon-valley-bank-2023-3">Kentucky Rep. James Comer</a> have — without evidence or substantiation — blamed "woke" politics for the bank's collapse.Representatives for Silicon Valley Bank did not immediately respond to Insider's request for comment outside regular business hours.

You Searched For "chairman and managing director" and got 12 results

Centre approves appointments of new Chairman, Managing Director of State Bank of India

ANI

SIMPLY PUT: What’s with all “Unbossing” talks? Are Indian companies also embracing this global trend?

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ITC CMD Sanjiv Puri drew ₹16.31 crore salary in FY23 - that's a 53% jump from last year

PTI

Embattled Secret Service director resigns after Trump assassination attempt

Brent D. Griffiths

Netflix chief doesn't think AI programs are going to replace writers, actors, and directors

Kwan Wei Kevin Tan

The Blake Lively backlash has been 'a gift' for Justin Baldoni after he was forced to hire a PR crisis manager amid rumored 'It Ends With Us' feud, PR expert says

Eve Crosbie

Raymond's Gautam Singhania announces separation from wife Nawaz Modi Singhania

IANS

Risk management must be driven by understanding of what is good for corporate: Ex-chairman Sebi

ANI

ED attaches three properties of Hero Motocorp CMD & Chairman Pawan Munjal

IANS

Ola appoints Mike Rake as non-executive chairman and Leon Daniels as non-executive director to the UK board

PTI

Raymond independent directors say no law requires them to investigate matrimonial disputes

IANS

'Shark Tank' star Kevin O'Leary is blaming Silicon Valley Bank's implosion on a 'negligent board of directors' with 'idiot management'

Cheryl Teh

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