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<keyword id="45875" type="PERSON" weightage="20" keywordseo="Chanda-Kochhar">Chanda Kochhar</keyword>, the head of ICICI BankBSE 0.87 %, received a 12.06 per cent pay increase in the previous financial year, when the country's largest private lender grappled with increased stress on its balance sheet. The board of directors rewarded <keyword id="146924" type="POSITION" weightage="20" keywordseo="managing-director-and-chief-executive-officer">managing director and chief executive officer</keyword> Kochhar with a salary of Rs 5.85 crore, the bank said in its annual report for 2014-15. 

	ICICI Bank's profit rose 14 per cent to Rs 11,175 crore for the year ended March 2015 from Rs 9,810 crore a year earlier. Earnings at Axis BankBSE 1.75 % and HDFC BankBSE 2.12 % increased 18.33 per cent and 20.49 per cent, respectively, in the same period.
 

	The board maintained the minimum and maximum ranges of remuneration and supplementary allowances for Kochhar and executives at 2013 levels. The minimum and maximum range of monthly supplementary allowance for Kochhar was Rs 10-18 lakh.
 The pay hikes of other directors ranged from 11 per cent to 16 per cent. NS Kannan, the <keyword id="136847" type="POSITION" weightage="20" keywordseo="Chief-Financial-Officer">chief financial officer</keyword>, received a 15.29 per cent increase, the steepest among the bank's top brass. K Ramkumar, executive director and head of human resources, got a 12.03 per cent raise to Rs 4.19 crore. 
	As published in ET.

ICICI Bank chief Chanda Kochhar grows richer by 12%

The board of clean energy solution provider <keyword id="46212" type="General" weightage="20" keywordseo="Suzlon-Energy" source="Orion">Suzlon Energy</keyword> has appointed J P <keyword id="149791" type="General" weightage="100" keywordseo="chalasani" source="Orion">Chalasani</keyword> as the company's Chief Executive Officer following the resignation of <keyword id="6372540" type="General" weightage="20" keywordseo="Ashwani-Kumar" source="Orion">Ashwani Kumar</keyword> from the post. Ashwani Kumar has resigned as the CEO with effect from 5th April 2023 on account of personal reasons, a BSE filing stated. The Board of Directors, at its meeting held on 4th April 2023 has, inter alia, approved the appointment of J P Chalasani as the Chief Executive Officer and one of the key managerial personnel of the Company, to act as the Group Chief Executive Officer, with immediate effect, i.e. from 5th April 2023, the filing said. Chalasani had been Group CEO of Suzlon for the period from April 2016 to July 2020 and continued as Strategic Advisor to the Suzlon Group thereafter. Chalasani has over 40 years of experience in the public and private sector across the entire gamut of the power sector (power generation projects, transmission, distribution, trading and coal mining). Prior to his earlier stint as the Group Chief Executive Officer of the Company, Chalasani was the Group CEO and Managing Director of Punj Lloyd since January 2014 and was responsible for the energy, infrastructure and defence business for the group globally, which is close to USD 1.8 Billion. Prior to joining Punj Lloyd, Chalasani had spent over 18 years with the Reliance Group. He joined Reliance Group (undivided) as a Vice President in 1995 and worked on a number of assignments for the group. He also served as the first Chief Executive Officer and the Director on the Board of BSES Rajdhani and BSES Yamuna Power Ltd. In 2003, along with Anil Ambani, he was appointed to the Board of Reliance Infrastructure as Director Business Development. Post demerger of the Reliance Group, Chalasani was with the ADAG group. He took over as CEO of Reliance Power in March 2008, soon after the company completed its big initial public offer. Chalasani created a 10 people team to start Reliance Power and grew it to a 30,000 MW (generating, under construction and under development) company in 2013. Prior to Reliance Group, Chalasani started his career at NTPC and worked there for 15 years in various capacities, including Special Technical Assistant to the Chairman and Managing Director.

Suzlon board appoints J P Chalasani as Chief Executive Officer

<ul><li>Kartik Sharma, CEO, Wavemaker South Asia resigns to pursue other opportunities in the industry.</li><li>Ajay Gupte will replace Kartik Sharma and will report into Prasanth Kumar, CEO - GroupM South Asia and Gordon Domlija, President Wavemaker Asia-Pacific and China CEO. </li></ul>Wavemaker has appointed Ajay Gupte as Chief Executive Officer for Wavemaker, South Asia. Gupte, who is currently COO of Wavemaker India, takes over from Kartik Sharma who steps down to pursue other opportunities in the industry. Gupte will continue to be based out of Wavemaker Gurugram and will report into Prasanth Kumar, CEO - GroupM South Asia and Gordon Domlija, President Wavemaker Asia-Pacific and China CEO. Prasanth Kumar, CEO – GroupM South Asia said, “I would like to take this opportunity to thank Kartik for his contribution over the years and wish him all the very best.” Ajay Gupte joined Wavemaker India last year from his previous role in Wavemaker Indonesia where he was Managing Director. He comes with more than two decades of industry experience, having worked across diverse brands and markets like India, Africa and Indonesia. Since 2011, under Gupte’s leadership, Wavemaker Indonesia saw exponential growth and became a top 3 agency, winning several blue-chip clients and many global and local accolades. Before this, in India, Gupte was Maxus Dehli’s General Manager, leading clients like Nokia, Hero Honda and others. Prior to joining Maxus, Gupte held various roles in Sales and Marketing with TVS Motor Company. Commenting on Gupte’s appointment, Kumar added, “At GroupM we always believe in building on the hard work and passion of our people and it gives me great pleasure to see Ajay take over as the new CEO of Wavemaker South Asia. He comes with vast experience working in multiple markets and categories. He is a well-rounded professional, and I see him bring in distinctive and increasing value for our clients and the overall ecosystem. I am confident that he will continue to grow Wavemaker as an agency of the future.” Gordon Domlija, Wavemaker President Asia-Pacific and China CEO, added, “India is a hugely important market for Wavemaker, and we’ve got a very successful team here. I’ve gotten to know Ajay as a strong client and team leader, and I’m convinced he is the right choice to help Wavemaker to future sucesss and, ultimately, to keep looking for better ways to unlock growth for our clients, our agency and our people.” Commenting on his new role, Gupte said, “I am humbled and very excited to take over the role of the CEO of Wavemaker South Asia. It is an exciting time for the Indian market as the Indian advertising industry is also having a global impact, and I see lots of opportunities for growth.”

Wavemaker appoints Ajay Gupte as Chief Executive Officer of South Asia

<ul><li><keyword id="1635027" type="General" weightage="20" keywordseo="nakul-chopra" source="Orion">Nakul Chopra</keyword> has been appointed as the CEO of <keyword id="3334926" type="General" weightage="20" keywordseo="broadcast-audience-research-council-india" source="Orion">Broadcast Audience Research Council India</keyword>.</li><li><keyword id="217320" type="General" weightage="20" keywordseo="sunil-lulla" source="Orion">Sunil Lulla</keyword> has resigned his remit to pursue his ambition as an entrepreneur.</li></ul>Broadcast Audience Research Council India (<keyword id="65298" type="General" weightage="20" keywordseo="barc" source="Orion">BARC</keyword>), the Industry’s Television Audience measurement body, today announced Nakul Chopra as its new Chief Executive Officer effective 25th August 2021. Sunil Lulla has resigned his remit to pursue his ambition as an entrepreneur. Nakul Chopra, who has been appointed as the incoming CEO, joined the BARC India Board in 2016 and was subsequently appointed the Chairman of the company (2018-19). In January 2020, he was appointed a member of its Oversight Committee. Chopra has been an integral part of the Advertising and Media fraternity and served as the CEO, India and South Asia Publicis Worldwide, for over a decade. BARC will benefit from his wealth of knowledge and experience of over four decades. Speaking on his appointment, Chopra says, “I have had the benefit of a long association with BARC. The organisation has grown in measure and strength. TV continues to be the definitive screen of the Indian home – its strong reach and connect continues to elicit the trust of advertisers. I look forward to working with the very capable BARC team in further building on TV measurement and continuing the journey toward screen agnostic measurement.” Lulla, while speaking on his future plans and thanking all at BARC, said, “After four decades of an exciting career in professional services, I now embark upon an entrepreneurial journey. I am privileged to have been able to contribute to BARC and this has been possible only because of the excellent team of professionals, a very supportive Board and the gold standard of Board-appointed committees. I wish Nakul Chopra, all the success.” Punit Goenka, Chairman, BARC India, while thanking Sunil Lulla and welcoming Nakul Chopra, said, “I thank Sunil for his stewardship of BARC and his efforts to enhance the strength of the BARC currency. I am very happy to welcome Nakul as the natural and unanimous choice of the Board for the continuing journey of adding robustness to the BARC currency and strengthening the governance of the world’s largest television audience measurement body.”

Nakul Chopra appointed as Chief Executive Officer of BARC India as Sunil Lulla steps down

<ul class="summary-list"><li>Happy Joe's chief <keyword id="11895092" type="UNKNOWN" weightage="60" keywordseo="happiness" source="Orion">happiness</keyword> <keyword id="11915156" type="UNKNOWN" weightage="60" keywordseo="officer" source="Orion">officer</keyword>, Tom Sacco, told Insider about a difficult period at the chain.</li><li>Sacco usually creates positivity in the company but in March 2020, he had to make layoffs.</li><li>"Other than the loss of my parents, I can't tell you when I felt sadder," he said.</li></ul>Happy Joe's pizza and ice cream restaurant has suffered highs and lows in recent years - and so has its chief happiness officer.Its founder and CEO, Joseph "Happy Joe" Whitty, passed away in 2019 and not long afterwards, the <keyword id="11896136" type="UNKNOWN" weightage="60" keywordseo="pandemic" source="Orion">pandemic</keyword> struck.Like most of the <a href="https://www.businessinsider.com/retailers-filed-bankruptcy-liquidation-closing-stores-2020-2?r=US&amp;IR=TIR=T">hospitality sector</a>, store sales were down, restaurants were closing, and worst of all, there were staff layoffs, Tom Sacco, the company's CEO and chief happiness officer, told Insider.Sacco, based in Iowa, became CEO in 2019 when the company was looking for someone to inject life back into Happy Joe's. A week into the job, he asked for a non-traditional job title as chief happiness officer.The pandemic was the most challenging business climate that he's ever worked in.Day to day, Sacco's role involves encouraging Happy Joe's managers to talk about positive experiences at work to pass onto their teams. He also dishes out random acts of kindness, such as sending gifts to employees' families, and walking elderly customers to the car when it's snowing.Despite being in charge of <a href="https://www.businessinsider.com/chief-happiness-officer-pizza-restaurant-midwest-2021-8?r=US&amp;IR=TIR=T">creating a positive culture</a> at Happy Joe's, Sacco was also responsible for laying off employees due to the pressures of the <keyword id="11893994" type="UNKNOWN" weightage="60" keywordseo="covid-19" source="Orion">COVID-19</keyword> pandemic. "Other than the loss of my parents, I can't tell you when I felt sadder and more helpless in my entire life as I did laying those people off," said 68-year-old Sacco, who has worked in the restaurant industry for 30 years.Happy Joe's never shut during the pandemic. All of its 70 restaurants across America remained open only for food deliveries and drive-thrus, Sacco said. But it wasn't enough to keep hold of its entire workforce."I cried more in that month of March in 2020 than I have cried in my entire life combined," he said. "It's very hard to tell people that have given you their heart and soul that you no longer can afford to have them work for you."Government financial aid helped the company to bring back employees, but some of those that had left the company had already changed industries, Sacco said. Some of the chefs went on to work in Amazon warehouses, he added.For the Happy Joe's employees who were laid off, Sacco provided them with references and letters of recommendation to help them move onto another job, he said."If they did get a call from another job, then it made me feel like at least I was helping them move forward," he said. "I'm a firm believer in positive thoughts and overcoming lots of challenges, hence the chief happiness officer role."

Happy Joe's pizza restaurant's chief happiness officer says laying off staff during the pandemic made him sad

<keyword id="45660" type="COMPANY" weightage="20" keywordseo="Yes-Bank">Yes Bank</keyword> has finally named a successor for its current <keyword id="115930" type="POSITION" weightage="20" keywordseo="Chief-Executive-Officer">chief executive officer</keyword> (CEO), <keyword id="128581" type="PERSON" weightage="20" keywordseo="Rana-Kapoor">Rana Kapoor</keyword>, putting to rest any further uncertainty over the succession process at one of India’s largest private banks. <keyword id="788579" type="PERSON" weightage="20" keywordseo="Ravneet-Gill">Ravneet Gill</keyword> - the head of Deutsche Bank’s Indian operations - is set to take over from Kapoor, who also founded the bank in 2004. Kapoor’s tenure is set to end on 31st January following the Reserve Bank of India’s refusal to extend his term. 
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 Gill’s appointment caps a tumultuous period for Yes Bank, following a clampdown by India’s central bank. Gill is expected to step into the role on March 1st for a three-year term. The move was greeted favourably by equity investors, with the bank’s shares <a href="https://www.google.com/search?q=yes+bank+share+price&amp;rlz=1C1GCEU_enIN820IN820&amp;oq=yes+bank+share+price&amp;aqs=chrome..69i57j0j69i60l3j0.2433j0j4&amp;sourceid=chrome&amp;ie=UTF-8">surging 16%</a> in the last session of trading on Thursday. Here all the events leading up to the announcement:- October 23rd, 2017 The <keyword id="30067" type="ORGANIZATION" weightage="20" keywordseo="RBI">RBI</keyword> levied <a href="https://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=42050">a ₹60 million fine</a> on Yes Bank after a sector-wide risk review found that the private lender had under-reported a series of non-performing loans in its financial statements for the year ended March 2016. The fine followed a notice issued to the bank the preceding July for its failure to report a cybersecurity attack at its ATM network. According to the RBI, this amounted to a refusal to accept liability for the loss of customers’ information. June 12th, 2018 At an annual shareholders’ meeting, Yes Bank’s shareholders voted to give Rana Kapoor <a href="https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/6/f8d7297d-dbbc-4a80-b910-bd0be88b546f.pdf">another three-year term</a> as the bank’s CEO starting September 1st. Kapoor’s re-appointment did, however, depend upon a greenlight from the central bank. 
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 August 30th, 2018 After deliberating <a href="https://www.thehindubusinessline.com/money-and-banking/yes-bank-awaits-rbi-approval-to-reappoint-rana-kapoor-as-ceo/article24803656.ece">for more time than was initially expected</a>, the RBI approved Yes Bank’s decision to have Kapoor continue in his role as Managing Director and CEO a day before his term was set to expire. The approval came with a slightly suspicious caveat: Rana Kapoor was allowed to continue as CEO <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/4b4b2947-7e80-4013-878d-6c3330117be5.pdf">‘till further notice</a>’. September 19th, 2018 In a glaring about-turn, the RBI refused to extend Rana Kapoor’s tenure as CEO of Yes Bank, giving him four months (until January 31st, 2019) to vacate the position. The move had precedence. Earlier in the year, the central bank refused to clear a three-year extension of the tenure of Shikha Sharma, the CEO of Axis Bank, as the bank dealt with its own host of bad loan calculation problems. September 20th, 2018 Yes Bank’s share price plummeted by over 29% on the first day of trading since the RBI’s decision was announced - a loss of nearly $3 billion worth of market capitalisation. The price drop exacerbated a freefall in Yes Bank’s share price since August, which culminated in the loss of <a href="https://www.businessinsider.in/one-of-indias-largest-private-banks-has-lost-more-than-half-its-market-value-in-37-days/articleshow/65991141.cms">half the bank’s market value.</a> September 25th, 2018 The board of directors of Yes Bank met to assess the situation. At <a href="https://www.yesbank.in/media/press-releases/outcome-of-board-meeting-25-sep-2018">the meeting</a>, they decided to request the RBI to reconsider its decision. They wrote to the RBI asking for an extension for Kapoor’s tenure till at least the end of April 2019 to finalise the bank’s year-end financial statements. The board also set up a search committee to find a replacement for Kapoor. October 1st, 2018 CARE Ratings, a credit ratings agency, placed Yes Bank’s debt on <a href="https://www.yesbank.in/media/press-releases/developing-implications-by-care-ratings">‘credit watch with developing implications’</a>, causing further investor jitters. October 17th, 2018 The RBI rejects the request submitted by Yes Bank’s board of directors seeking a minor extension for Kapoor. To allay investor fears, Yes Bank says that it should conclude the CEO search process by mid-December 2018. October 19th, 2018 Rana Kapoor <a href="https://www.livemint.com/Companies/SVfWpr650CG79vvcqXlydL/Yes-Bank-CEO-Rana-Kapoor-meets-rival-promoter-Madhu-Kapur-s.html">met with another Yes Bank promoter Madhu Kapur</a>, the wife of Yes Bank’s co-founder - the now-deceased Ashok Kapur, to discuss a possible formation of a single promoter group, ending a decade-long dispute and paving the way for a smooth succession plan for the bank. October 25th, 2018 Yes Bank posted <a href="https://www.yesbank.in/pdf/q2fy2018_19_press_release_cr_pdf">a 4% drop</a> in net profit for the quarter ended September 2018 owing to higher provisions for loan losses. Gross <keyword id="142154" type="PERSON" weightage="20" keywordseo="bad-loans">bad loans</keyword> also rose by 37% on a sequential basis, resulting in a bad loan ratio of 1.6% as opposed to 1.3% the previous quarter. To make matters worse, the lender also disclosed a ₹26 billion to the near-bankrupt IL&amp;FS. November 14th, 2018 The bank’s non-executive chairman, Ashok Chawla, <a href="https://www.yesbank.in/media/press-releases/yes-bank-announces-resignation-of-chairman-shri-ashok-chawla-from-board-of-directors">submitted his resignation</a> owing to the fact that he was the <a href="https://www.businessinsider.in/yes-banks-problems-get-further-compounded-as-its-chairman-is-forced-to-resign-amid-a-corruption-probe/articleshow/66634836.cms">subject of a corruption probe</a>. In July 2018, Chawla, who was also the chairman of the National Stock Exchange of India (NSE), was named in a chargesheet filed by the Central Bureau of Investigation in relation to the Aircel-Maxis case. In its announcement, Yes Bank said that it needed a chairman that could devote more attention to the bank as it navigated the management transition period. November 27th, 2018 Following a number of resignations from Yes Bank’s board, Moody’s Investors Service <a href="https://www.moodys.com/research/Moodys-downgrades-Yes-Banks-ratings-changes-outlook-to-negative--PR_392036">downgraded </a>Yes Bank’s credit rating to non-investment grade and changed the bank’s outlook to negative from stable. November 29th, 2018 News reports emerged that Rana Kapoor was seeking to maintain control of Yes Bank by <a href="https://www.livemint.com/Companies/FAMv2Atixphj1fprI0DYpI/Rana-Kapoor-eyes-Yes-Bank-chairman-seat-after-exit-as-CEO.html">taking over the chairmanship</a> of the company. The move, however, never came to fruition. December 3rd, 2018 T S Vijayan, was appointed to Yes Bank’s board as an independent director for five years. The move was expected, given that former chief of LIC and the Insurance Regulatory and Development Authority (IRDAI) was also on the CEO search and selection committee. January 10th, 2019 The board of directors of Yes Bank submits a list of potential CEO candidates to the RBI for the latter’s approval. The board highlights Gill as their most preferred candidate to take over the role. January 12th, 2019 Yes Bank named Brahm Dutt as its new non-executive chairman on a part time basis. A board member since 2013, Dutt’s tenure is capped till July 2020, when he is scheduled to turn 70 years old. SEE ALSO: <a href="https://www.businessinsider.in/yes-banks-problems-get-further-compounded-as-its-chairman-is-forced-to-resign-amid-a-corruption-probe/articleshow/66634836.cms">Yes Bank’s problems get further compounded as its chairman is forced to resign amid a corruption probe</a> <a href="https://www.businessinsider.in/one-of-indias-largest-private-banks-has-lost-more-than-half-its-market-value-in-37-days/articleshow/65991141.cms">One of India’s largest private banks has lost more than half its market value in 37 day</a>s

Yes Bank's 15-month journey from regulatory crackdown to finding a new CEO

In a leadership rejig, <keyword id="742386" type="General" weightage="20" keywordseo="food-beverage" source="Orion">food &amp; beverage</keyword> major <keyword id="19953787" type="General" weightage="20" keywordseo="pepsico" source="keywords">Pepsico</keyword> on Friday said <keyword id="4632597" type="General" weightage="20" keywordseo="Jagrut-Kotecha" source="Orion">Jagrut Kotecha</keyword> will lead the <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> business as the CEO, while the incumbent <keyword id="20251990" type="General" weightage="20" keywordseo="ahmed-el-sheikh" source="keywords">Ahmed El Sheikh</keyword> will assume the charge of the Middle East business unit. Kotecha, who is the Chief Commercial Officer for PepsiCo in Africa, Middle East, and South Asia (AMESA) will assume the role of CEO for PepsiCo India in Sheikh's place, the company said in a statement. Ahmed El Sheikh, who led the PepsiCo India business for almost seven years, will move on from his current role and assume new responsibilities as of March 2024, it said. "This leadership change, reflecting PepsiCo's dynamic and forward-thinking global approach, has been meticulously planned and was communicated to the India office employees yesterday (Thursday) as part of a series of leadership changes across AMESA," it said. PepsiCo <keyword id="115930" type="General" weightage="20" keywordseo="chief-executive-officer" source="Orion">Chief Executive Officer</keyword> -- Africa, Middle East &amp; South Asia -- Eugene Willemsen said India remains a pivotal market for the company, playing a crucial role in our global strategy. "Over the last six years, Ahmed has been instrumental in transforming our business, driving innovation, and steering the team through challenging landscapes. His leadership saw the introduction of pioneering products and various community-focused initiatives, and I look forward to continuing to work with him in his new capacity," he said. Welcoming Kotecha, he said, "We will continue to scale new zeniths of success under his leadership with our Indian consumers." PepsiCo, which owns brands such as Pepsi, Lay's, Kurkure, Tropicana 100%, Gatorade, and Quaker, entered the Indian market in 1989 and has grown to become one of the largest food and beverage businesses here. Pepsico India Holdings revenue from the sale of products and services on a consolidated basis was up 28.47 per cent to Rs 8,127.07 crore, for the financial year that ended on March 31, 2023.

Jagrut Kotecha to lead PepsiCo in India, Ahmed El Sheikh moved to Middle East Business

<ul class="summary-list"><li><keyword id="6354427" type="ORGANIZATION" weightage="60" keywordseo="apple">Apple</keyword> CEO <keyword id="191843" type="PERSON" weightage="60" keywordseo="Tim-Cook">Tim Cook</keyword> has been running the company for just shy of 10 years.</li><li>In another 10 years, though, Cook expects to have stepped down from his role.</li><li>In a new interview, Cook said he didn't know what's next after Apple.</li></ul>Tim Cook became the CEO of Apple just shy of 10 years ago, following the death of cofounder <keyword id="6357934" type="DEFINITION" weightage="60" keywordseo="steve-jobs">Steve Jobs</keyword>.And in another 10 years, Cook doesn't expect to still be at the company, he said in <a href="https://www.nytimes.com/2021/04/05/opinion/is-apples-privacy-push-facebooks-existential-threat.html">a new interview with The New York Times</a>."Ten more years? Probably not," Cook said. "I can tell you that I feel great right now. And the date's not in sight. But 10 more years is a long time, and probably not 10 more years."Cook has been with Apple for over 20 years. He joined in the late '90s and helped it to rethink operations. When Jobs died in 2011, Cook took over executive duties and became the new face of the company.Since then, Cook has unveiled new iPhones, Apple Watches, and other products.<div type="image" title="tim cook jony ive iphones" height="1331" width="2000" msid="81917809" hostid="261"></div>He oversaw Apple's incredible rise in value: Its market cap is just over $2 trillion. He's also taken on the role of government liaison and appeared multiple times with President Donald Trump.As for what he'll do after Apple, Cook appeared to be just as in the dark as everyone else."I don't have a clue," he said in the Times interview, "because I love this company so much that it's hard to imagine my life without it."Got a tip? Contact Insider senior correspondent Ben Gilbert via email (<a href="mailto:bgilbert@insider.com">bgilbert@insider.com</a>), or Twitter DM (<a href="https://twitter.com/RealBenGilbert">@realbengilbert</a>). We can keep sources anonymous. Use a nonwork device to reach out. PR pitches by email only, please.

Apple CEO Tim Cook says he doesn't expect to be running the company a decade from now

When 43-year-old Indian origin <a href="http://www.businessinsider.in/Everything-you-need-to-know-about-Googles-new-CEO-Sundar-Pichai/articleshow/48430267.cms">Sundar Pichai</a> was named <keyword id="2996011" type="UNKNOWN" weightage="80" keywordseo="Chief-Executive-Officer-of-internet-giant">Chief Executive Officer of internet giant</keyword> <keyword id="6355629" type="CITY" weightage="80" keywordseo="Google">Google</keyword> by co-founders <keyword id="100155" type="PERSON" weightage="80" keywordseo="Larry-Page">Larry Page</keyword> and <keyword id="360878" type="PERSON" weightage="80" keywordseo="Sergei-Brin">Sergei Brin</keyword> today, Indians across the world commemorated the occasion as if each one of them had a personal stake in the development. 
 
Though, to be fair they did have reason to rejoice. With Pichai’s elevation from Senior Vice President of Chrome, Android and Apps to CEO, he joins the growing club of corporations run by Indian-born business leaders and the elite club of Indians heading a technology giant, right in the footsteps of Microsoft CEO Satya Nadella. 
 
His promotion as CEO came after Google’s Larry Page announced<a href="http://www.businessinsider.in/Heres-what-analysts-are-saying-about-Googles-huge-re-organization-announcement/articleshow/48435862.cms"> changes to the company’s executive structure</a> in a bid to present a ‘slimmed down Google,’ which will be included under a new parent company, Alphabet. <a href="http://www.businessinsider.in/In-choosing-Alphabet-Inc-Google-joins-a-branded-crowd/articleshow/48437236.cms">Alphabet</a>, headed by Larry Page is essentially a collection of companies, the largest of which will inevitably be Google. 
 
Joining Google as a ‘low-key manager’ in 2004, Pichai quickly worked his way up the ladder and became part of the team that successfully launched Chrome browser in 2008. Then in 2012, he undertook the responsibility of heading Apps after the former head departed. And, finally in 2013, he was put in charge of Android. 
 
Pichai’s advancement as Product Chief in 2014 quite literally sealed the deal as he became second-in-command to none other than Page. In a press release announcing Pichai’s new post, Page mentions how Pichai ‘stepped up since October last year, when he took on product and engineering responsibility for our Internet businesses.’ 
 
However, the responsibility of heading the $66 billion-revenue, $16-billion profit, company didn’t come easy to Pichai. He undoubtedly worked for it. Really hard. 
 
Responding to a recent Quora thread which questioned Pichai’s surprising promotion to the highest ranks, Chris Beckmann, former Product Manager at Google was all praise for Pichai, crediting him for recruiting, mentoring and retaining the best team of product managers who helped him spearhead ‘successful efforts for difficult projects that were core to <a href="http://www.businessinsider.in/Heres-an-interesting-theory-making-the-rounds-about-Googles-big-shakeup/articleshow/48430574.cms">Google’s</a> continued financial success, namely Toolbar and Chrome.’ He also added that Pichai ‘avoided making enemies’ and instead navigated office politics to build a team that’s talented and one that delivers. 
 
In comparison, it took <a href="http://www.businessinsider.in/Microsofts-Windows-10-to-change-the-tech-world-says-Nadella/articleshow/48070350.cms">Satya Nadella</a> 20 years to rise up to the coveted rank of CEO of technology giant Microsoft. However, that is where the differences between the two Indian-origin CEOs end. 
 
Both Nadella and Pichai now command an influential position in the US tech world and they’re not alone. The list also includes Shantanu Narayen, President and CEO of Adobe, Vinod Khosla, co-founder of Sun Microsystems, Amit Singhal, Senior Vice President at Google, Rajeev Suri, CEO of Nokia and Rashmi Sinha, co-founder of SlideShare. 
 Moreover, according to a 2014 report by Dr Vishwas Wadhwa, the founders of 15% of the startups in the <keyword id="6357722" type="COMPANY" weightage="80" keywordseo="silicon-valley">Silicon Valley</keyword> are Indians. 
 
So, what is it exactly that’s making Indians stand tall in the Silicon Valley? 
 
It’s certainly a stark contrast from the scenario in 1992, when Indians in the Silicon Valley were deemed incapable of becoming managers- leave aside CEOs, despite being excellent engineers. 
 
The metamorphosis from 1992 to today can be largely attributed to banishing negative stereotypes that limited the entry of Indians to enviable positions. 
 
To attain this, the first generation of Indian-Americans who successfully started shattering the glass-ceiling acted as mentors for the future generations, providing them seed-funding, sharing their experiences and opening quite a few doors. 
 
This also unraveled in the management culture wherein it was noticed by a 2004 research from St. Gallen University in Switzerland that Indian executives prioritised participative administration and building meaningful relationships with subordinates which fostered an emotional bond. 
 
As Indra Nooyi, the CEO of Pepisco, once famously divulged, there's no executives in the ‘Indian club’ who possess a dictatorial style of management. “They value their employees as a person.” 
 
Additionally, they are also known to be future-oriented, patient, humble and persistent- traits which are sacrosanct for any leader. 
 
Thus, it comes as no surprise that the unique process of mentoring and uplifting within the community, immense hard work and dedication by Indian-Americans themselves, have worked out in a way which promptly put the Indian club of executives onto the global platform. 
 
Image credit: Indiatimes

I'm CEO: Indian-born business leaders are the future of Silicon Valley

Robert Hood/Fred HutchFormer Amazon Web Services Chief Financial Officer Sean Boyle<ul class="summary-list"><li>An Amazon spokesperson on Tuesday confirmed Sean Boyle - chief financial officer of the Amazon Web Services cloud computing business since 2015 - has "moved to another role within AWS."</li><li>Luis Visoso, most recently the CFO of the consumer side of Amazon's business, has taken over the role.</li><li>Boyle's LinkedIn profile lists the title of "vice president" as of this month.</li><li>Amazon declined to provide information about the reason behind the change, or disclose whether there's a new CFO for Amazon's worldwide consumer business.</li><li><a href="https://www.businessinsider.com/prime">Click here to read more BI Prime stories</a></li></ul>Amazon has replaced the chief financial officer of the company's multibillion-dollar cloud business with an executive from the consumer side of its empire, the company confirmed.An Amazon spokesperson on Tuesday confirmed Sean Boyle - chief financial officer of the Amazon Web Services unit since 2015 - has "moved to another role within AWS." Luis Visoso, most recently the CFO of the consumer side of Amazon's business, has taken over.Amazon declined to comment on the reason behind the change, or to disclose whether there's a new CFO for Amazon's worldwide consumer business.Boyle's LinkedIn profile lists the title of "vice president" as of this month, though it doesn't go into more specifics. Visoso, meanwhile, joined Amazon in 2018 as CFO of the company's worldwide consumer business from Cisco, where he was the senior vice president of the company's business, technology, and operations finances.The CFO position at Amazon Web Services is significant as Amazon faces antitrust scrutiny. Gary Reback, who was once known as <a href="https://www.nytimes.com/2015/09/28/technology/silicon-valley-lawyer-takes-antitrust-fight-to-europe.html">"Bill Gates's worst nightmare,"</a> recently <a href="https://www.businessinsider.com/gary-reback-ftc-amazon-cloud-rivals-antitrust-probe-2019-12">told Business Insider that the FTC is looking into how Amazon</a> may be using its dominant position in the cloud to stifle competition.Amazon Web Services is answerable to top-level Amazon execs like CEO Jeff Bezos and CFO Brian Olsavsky, but <a href="https://www.businessinsider.com/amazon-web-services-spin-off-antitrust-scrutiny-2019-10">it practically runs independently</a> thanks to its own executive leadership - headed by Andy Jassy, CEO of Amazon Web Services, and supported by the CFO.The CFO role would be especially important in the event Amazon spins out AWS; a turn of events which <a href="https://www.businessinsider.com/amazon-web-services-spin-off-antitrust-scrutiny-2019-10">by most accounts, including Amazon's own, would be unlikely. </a>However<a href="https://www.businessinsider.com/amazon-web-services-spin-off-antitrust-scrutiny-2019-10">,</a> pundits and other observers have raised the possibility of such a move as a potential solution to appease regulators.AWS is an important profit driver for Amazon's broader empire. The last time that Amazon reported earnings, it said that AWS had booked some $9 billion in revenue, and that the <a href="https://www.businessinsider.com/amazon-reports-third-quarter-earnings-q3-2019-10">unit accounted for some 72% of the company's nearly $3.2 billion in operating income</a> for the quarter.Research firm Morningstar in 2019 estimated AWS is worth more than $550 billion on its own - more than half of Amazon's $873 billion market cap, at the time of writing. AWS is also the most profitable part of Amazon's business. Boyle, the former CFO, originally joined Amazon in 2006 as a finance director but left the company for about a year and a half beginning in 2013 to serve as chief financial officer for Bellevue, Washington-based IT management company Apptio.<a href="https://www.businessinsider.com/intelligence/40-big-tech-predictions-for-2019?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_leadgen&amp;itm_content=amazon&amp;itm_campaign=40-big-tech-predictions-for-2019-2"></a> <h3>NOW WATCH: <a href="https://www.businessinsider.com/new-years-eve-ball-drop-tradition-sailors-times-square-2016-12">The surprising reason Americans drop a ball on New Year's Eve</a></h3>

Amazon replaced the chief financial officer of its multibillion-dollar cloud business in an executive shuffle

<ul class="summary-list"><li><keyword id="363661" type="COMPANY" weightage="60" keywordseo="GameStop">GameStop</keyword> just hired a new CEO: <keyword id="11414252" type="UNKNOWN" weightage="60" keywordseo="matt-furlong">Matt Furlong</keyword>, a former senior leader at <keyword id="18635" type="CITY" weightage="60" keywordseo="Amazon">Amazon</keyword>.</li><li>GameStop has reshaped its executive suite around former Amazon leaders.</li><li>The charge is being led by newly appointed GameStop board chairman and Chewy cofounder Ryan Cohen.</li></ul>The world's biggest video game retailer just appointed a new <keyword id="115930" type="POSITION" weightage="60" keywordseo="Chief-Executive-Officer">chief executive officer</keyword>: Former Amazon executive Matt Furlong is taking over as CEO of GameStop, the company announced on Wednesday.Furlong is joined by another former Amazonian in Mike Recupero, who is taking over as chief financial officer.The two new top executives are part of a fully revamped c-suite that includes chief growth officer Elliott Wilke, who oversaw a variety of initiatives at Amazon, former Amazon fulfillment director Jenna Owens (COO), and former Amazon Web Services engineering lead Matt Francis (CTO). Furlong most recently oversaw Amazon's Australia operations and Recupero was CFO of the North American consumer business.The new executive team made up entirely of former Amazon leaders fits right in with the long-term plans of newly-elected board chairman and activist investor Ryan Cohen.Cohen is spearheading a company-wide "transformation" at the ailing retailer which is intended to turn GameStop into <a href="https://www.businessinsider.com/ryan-cohen-gamestop-transformation-ecommerce-explained-2021-3">the "Amazon of gaming."</a> To do that, he's spent months slowly replacing leadership.Read more: <a href="https://www.businessinsider.com/meet-david-drebin-artist-that-sells-to-rich-and-famous-2021-6">Meet David Drebin, the New York and Miami-based artist who sells his $100,000 work to the rich and famous</a>Cohen, who cofounded Chewy and acted as CEO before it sold to PetSmart for $3.35 billion in 2017, does not have a background in the video game industry. His claim to fame is outfoxing Amazon at its own game - e-commerce - in a specific category: pets. That's an especially meaningful claim to fame when it comes to Wall Street, which saw Cohen's involvement in the company as <a href="https://markets.businessinsider.com/news/stocks/gamestop-stock-price-chewy-cofounder-ryan-cohen-activist-investment-stake-2020-12-1029915366">a reason to buy the ailing retailer's stock</a> before Reddit found it.As GameStop's stock value rocketed north of $400 earlier this year, the company <a href="https://markets.businessinsider.com/news/stocks/gamestop-stock-rises-company-twitter-acknowledges-surge-wallstreetbets-reddit-traders-2021-5-1030438053">barely acknowledged</a> the stock value explosion and Cohen declined requests for interviews. "Moving forward, we want you to judge GameStop based on our actions - not our words," Cohen told shareholders during the company's annual meeting on Wednesday, where he was elected chairman of the board, according to a representative. "As my dad would say, buckle up."Got a tip? Contact Insider senior correspondent Ben Gilbert via email (<a href="mailto:bgilbert@insider.com">bgilbert@insider.com</a>), or Twitter DM (<a href="https://twitter.com/RealBenGilbert">@realbengilbert</a>). We can keep sources anonymous. Use a non-work device to reach out. PR pitches by email only, please.

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