NIIT Technologies reports strong order inflows, hires talent from Infosys

NIT Technologies said third-quarter revenue increased 2.6% sequentially to Rs 756.5 Crores, an increase of 9% on year. Operating Margins expanded 97 bps sequentially to 17.1% as a result of growth in Digital engagements in US and EMEA. Operating profits expanded 8.7% on quarter and 11.4% on year to Rs 129.5 Crores. Net profit improved […]

Won’t be coming here again – Nandan Nilekani at Infosys

“I won’t be coming here again, I think,” said Infosys co-founder and chairman Nandan Nilekani at the company’s quarterly results press conference, indicating that he may step down from his role at Infosys sooner rather than later. Nilekani faced several questions from journalists about how long he planned to stay in the role of the […]

Zensar Tech CFO resigns with immediate effect

Zensar Technologies, the IT services company from the RPG Group, said its chief financial officer Manoj Jaiswal resigned with immediate effect. “He will be relieved from his duties with effect from the closing of business hours on Dec 4,” the company said. It was not clear why the CFO resigned abruptly. Zensar Technologies also said […]

Bangalore, ‘cultural fit’ swung it for Salil Parekh – Search Committee Head

Two crucial factors that swung the decision in favor of hiring Capgemini veteran Salil Parekh as the new CEO of Infosys were his familiarity with working in the IT sector in Bangalore and his overall ‘cultural fit’ with the Indian IT industry, said Kiran Mazumdar-Shaw, who heads the committee that spearheaded the search for a […]

Indian CEOs find themselves under promoter’s shadow – survey

Indian promoters are unwilling to give total management control to professional boards and managers, a survey by Assocham has revealed. A majority of the corporate firms have promoters’ holding well over 50 per cent and even those with much lower stake are not willing to bet fully on professionals, found the survey that was based […]

FULL TEXT: Vishal Sikka’s resignation letter to Infosys board

Vishal Sikka, the SAP-veteran who took over as the CEO of Infosys four years ago, has put in his papers after continuing differences of opinion with some of the key shareholders. He will, however, continue as the vice chairman of the company. He also wrote a long letter to the employees of explaining his reasons […]

Snapdeal appoints Jason Kothari as CEO of Freecharge, commits funds

E-commerce firm Snapdeal said it has appointed former housing.com CEO Jason Kothari as the Chief Executive Officer of its wallet service FreeCharge at a time when competition in the mobile payments space is at an all-time high. Contrary to rumors of a cash crunch, Snapdeal said it will invest an additional $20 million in Freecharge. […]

N Ganapathy Subramaniam appointed new TCS COO

Tata Consultancy Services said it made two appointments in the wake of the departure of Chief Executive officer N Chandrasekaran: N. Ganapathy Subramaniam, elder brother of outgoing CEO Chandrasekaran, has been appointed as the chief operating officer, and former chief financial officer Rajesh Gopinathan has been elevated to the position of CEO. Former CEO Chandrasekaran has […]

Vinod Sawhny resigns as Reliance Communications CEO ahead of Aircel merger looms

Reliance Communications said its CEO Vinod Sawhny resigned  with immediate effect for personal reasons. “We wish to inform you that the Company has accepted request of Mr. Vinod Sawhny to step down as Chief Executive Officer of the Company with effect from September 30, 2016 to enable him and his family to relocate to New […]

Jet Airways promotes Jayaraj Shanmugam as Chief Commercial Officer

Jet Airways promoted Jayaraj Shanmugam as its Chief Commercial Officer. Since joining Jet Airways’ in mid-2015 and as Sr. Vice President of Products & Services, Shanmugam has been instrumental in sharpening the organization’s focus towards delivering superior guest engagement experience together with a host of outstanding, innovative initiatives, the airline said. He will be based […]

Anil Ambani’s son Jai Anmol to be appointed Executive Director of Reliance Capital

Reliance Capital, the financial services arm of Reliance Anil ambani Group today appointed Jai Anmol Ambani, elder son of Anil Ambani to the companyś board and said he will be appointed as full time Executive Director at the companyś annual general meeting. Jai had first joined Reliance Capital in July 2014. Jai Anmol Ambani, born […]