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Byju’s Ropes In Nitin Golani As CFO, Pradip Kanakia As Senior Advisor

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Golani, the new India CFO and president – finance, was previously the chief strategy officer at Aakash Education. He was instrumental in Byju’s USD 1 billion acquisition of Aakash in 2021, and he moved into an operational job at Aakash following the deal

Byju’s appointed Pradip Kanakia as senior adviser. Nitin Golani, presently president – finance, will take on the additional role of India Chief Finance Officer (CFO).

Golani, the new India CFO and president – finance, was previously the chief strategy officer at Aakash Education. He was instrumental in Byju’s USD 1 billion acquisition of Aakash in 2021, and he moved into an operational job at Aakash following the deal. He started his career with Grant Thornton Bharat and has since worked for MetLife and Accenture Strategy.

Kanakia offers extensive experience from a distinguished career spanning over 35 years, including positions of leadership at Price Waterhouse and KPMG. He has conducted audits for major Indian and multinational corporations, and he is a specialist in finance strategy, transformation, performance management, accounting, auditing, reporting, controls, compliance, and governance.

“Their experience, understanding, and insights on business and finance will help us in our ongoing turnaround efforts,” stated founders Byju Raveendran and Divya Gokulnath. They expressed gratitude to Ajay Goel for his substantial services as CFO.

Golani stated that he will take up the new position with the help of a committed team. “I am committed to ensuring BYJU’s robust and sustainable growth.” “My current goal is to maximise shareholder value by improving financial performance,” he continued.

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NxtDigital Appoints Sooraj Keswani As Chief Customer Experience Officer

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He will lead the organization’s initiatives to improve customer experience across all product portfolios, bringing over three decades of experience in media, retail, marketing, and enterprise consulting 

NxtDigital, the digital media branch of Hinduja Global Solutions (HGS) appointed Sooraj Keswani as chief customer experience officer.

He will lead the organization’s initiatives to improve customer experience across all product portfolios, bringing over three decades of experience in media, retail, marketing, and enterprise consulting at companies such as The Indian Express Newspapers, Madison, Concept Communication, Hansa Cequity, and Mirum India along with managing the branding and marketing functions as part of his role, said the press report.

“We are delighted to welcome Sooraj Keswani to HGS and the NXT Media Group. His diverse experience across media, communications, technology-led marketing and building customer experience aligns perfectly with our company’s digital vision for the future. We look forward to the exciting journey ahead with him at the helm driving delightful experiences for our customers,” said Vynsley Fernandes, whole time Director at HGS and Head of the media group.

NXT Media Group has ambitious expansion ambitions throughout its business verticals, and I am very eager to join them on this adventure to take customer experience and brands to new heights, Keswani commented.

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Tejas Networks Appoints Sumit Dhingra As New CFO

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Dhingra previously worked for Kotak Investment Banking and Everstone Capital and holds an MBA from the Indian Institute of Management Calcutta as well as a BE (CSC) from the Delhi Institute of Technology

Tejas Networks has appointed Sumit Dhingra as Chief Financial Officer of the Company, effective from 1 December 2023, the company said in the filing. He will be replacing Venkatesh Gadiyar who tendered his resignation on 20 October 2023.

Dhingra previously worked for Kotak Investment Banking and Everstone Capital. He holds an MBA from the Indian Institute of Management Calcutta as well as a BE (CSC) from the Delhi Institute of Technology.

Tejas Networks announced its Q2 FY24 results on October 20, 2023. The topline climbed by 80.03 per cent, while the loss stood at Rs 12.64 Cr. Tejas Networks made a profit of Rs.1.07 crore in the previous fiscal year over the same time.

Tejas Networks has delivered 0.56 per cent in the last week, 40 per cent in the last 6 months, and 53.8 per cent year to date. Tejas Networks currently has a market cap of Rs 15096.7 Cr and a 52-week high/low of Rs 940 Cr and Rs 510 Cr, respectively.

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JSW Energy Appoints Ashok Ramchandran As COO

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To work in the JSW Group and the energy sector is a privilege and an absolute honour. Very few companies take bets on people with out of industry experience, that too, in senior leadership roles, he said on social media

JSW Energy appointed Ashok Ramachandran as the Chief Operating Officer (COO), effective from 20 October 2023. He previously served as the president and CEO of Schindler India.

Ramachandran also worked as the managing director of Jardine Schindler Vietnam from 2012 to 2016 and Antah Schindler Malaysia in Kuala Lumpur from 2016 to 2018. He has held senior and top managerial roles with Schindler for a total of 18 years, both in India and abroad.

“To work in the JSW Group and the energy sector is a privilege and an absolute honour. Very few companies take bets on people with out of industry experience, that too, in senior leadership roles. And for that, I convey my heartfelt thanks to Mr. Sajjan Jindal, Mr. Parth Jindal, Mr. Prashant Jain, Dilip Pattanayak Rakesh Mehta having placed their faith in me,” he expressed on social media.

This announcement came on a day when JSW Energy reported an 83 per cent year-over-year increase in net earnings from Q2 FY23’s Rs 466 crore to Q3’s Rs 850 crore. In the quarter ending in September 2023, the company’s revenue climbed 30 per cent YoY to Rs 3,387 crore from Rs 2,596 crore in Q2 FY23. The company’s cash net profit increased 73 per cent year over year, from Rs 681 crore in the same quarter last year to Rs 1,180 crore in Q2 FY24.

Kedar Upadhye

Biocon Biologics Appoints Kedar Upadhye as New CFO replacing M B Chinappa

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Chinappa participated in a number of important strategic projects, including Biocon’s successful IPO in 2004, he will transition into a position in strategic finance and collaborate with Peter Bains, Biocon’s recently recruited Group CEO

Biocon Biologics (BBL) appointed Kedar Upadhye as the new Chief Financial Officer (CFO), effective from 31 October 2023. He will replace MB Chinappa who will now transition take on a strategic finance role at Biocon Group, stated the press release.

Chinappa joined the Biocon Group in 1999 as a significant member of the Finance Leadership Team. There, he participated in a number of important strategic projects, including Biocon’s successful IPO in 2004. He will transition into a position in strategic finance and collaborate with Peter Bains, Biocon’s recently recruited Group CEO.

“I would like to thank Chinappa for his immense contribution to Biocon Biologics over the past 3 years and to the Biocon Group for more than two decades. He has successfully built a strong foundation of fiscal prudence, financial governance and risk management,” said Shreehas Tambe, Chief Executive Officer and Managing Director, Biocon. Chinappa has made the company successful by contributing significantly to the multi-billio- dollar acquisition of Viatris’ global biosimilars business, he added.

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Anant Goenka Named RPG Group Vice Chairman

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Prior to being the Vice Chairman of CEAT and Zensar Technologies, Anant led CEAT as Managing Director & CEO through a highly transformative 10-year period

 
 
 

RPG Group appointed Anant Goenka as Vice Chairman of the group. In addition to his new role, Anant Goenka will continue to serve as the Vice Chairman of CEAT and Zensar Technologies.

This move strengthens the leadership at the group headed by Harsh Goenka, ensuring stability and continuity in the long term for the group, which is acclaimed for its corporate governance and people-friendly value system. 

Harsh Goenka, Chairman of RPG Group said, “Anant’s extensive experience, driving CEAT towards performance excellence over the past decade, will play a pivotal role in shaping the next wave of growth for the RPG Group. This era is defined by rapidly evolving technology and I believe Anant has the requisite skills and business instincts to herald change and make a difference in the way we adapt to technologies, markets and consumers.”

Prior to being the Vice Chairman of CEAT and Zensar Technologies, Anant led CEAT as Managing Director & CEO through a highly transformative 10-year period. Under his leadership, the market capitalization of the company grew significantly by over 20 times.

A graduate of the Wharton School and an MBA from Kellogg School of Management, Anant began his career in Unilever and RPG group company KEC International before joining CEAT. His leadership played a pivotal role in CEAT’s historic achievement of winning the prestigious Deming Grand Prize making it the first tyre brand in the world to receive this coveted accolade of business excellence.

Anant Goenka’s remarkable achievements have earned him recognition as “India’s Under 40 Business Leader” by CEO Forum in 2020, “GQ: 50 Most Influential Young Indians” in 2018, and “Next Generation Business Leader of the Year” by Forbes in 2017. He was also named among “India’s 40 under 40 Business Leaders” by the Economic Times-Spencer Stuart. He has also served as the Chairman of the Automotive Tyre Manufacturers’ Association (ATMA).

Anant Goenka said, “It is an honour and a responsibility that I will cherish and I hope to contribute towards the growth and competitiveness of our diverse businesses. Our fundamental value system, our governance standards and our quest for happiness will remain the guardrails within which we will continue to operate.”

 

 

pankaj Bohra

Pankaj Bohra Takes Over As National President Of IACC

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The IACC is a 55-year-old apex chamber of commerce and is engaged in promoting bilateral trade and investments between India and the USA

Pankaj Bohra, a Chartered Accountant from Ahmedabad has become the first-ever person from Gujarat to assume the role of National President of the Indo-American Chamber of Commerce (IACC).

The IACC is a 55-year-old apex chamber of commerce and is engaged in promoting bilateral trade and investments between India and the USA.

Talking about his appointment, CA Bohra said, “Assuming the mantle of National President for the IACC is a privilege and honour. Today bilateral trade between India and USA is experiencing rapid growth with the USA emerging as a largest trading partner of India.”

Bohra added that the bonds between the two nations are stronger than ever and are ready to enter into a new orbit. I am committed to engaging with all stakeholders to further enhance the enduring relationship between the two nations.

With a professional experience spanning over four decades, Bohra currently serves as the Senior Partner at Pankaj Bohra & Co., Chartered Accountants. He completed his training under the tutelage of one of the big 4 accounting firms and occupied various roles within EY and other corporate entities, culminating in the establishment of his own distinguished CA firm.

He has also been on the boards of several companies advising senior management on business strategies, financial planning and corporate governance.

 

 

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AMFI Elect Navneet Munot, Anthony Heredia As New Chairperson And Vice Chairperson

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Navneet Munot is the Managing Director (MD) and Chief Executive Officer (CEO) of HDFC Asset Management, whereas, Anthony Heredia is the MD and CEO of Mahindra Manulife Mutual Fund

Association of Mutual funds in India (AMFI) elected Navneet Munot as the chairman and Anthony Heredia as the vice- chairperson, effective from 16 October, 2023. Navneet Munot is the Managing Director (MD) and Chief Executive Officer (CEO) of HDFC Asset Management, whereas, Anthony Heredia is the MD and CEO of Mahindra Manulife Mutual Fund.

“I am honoured to assume the responsibilities as AMFI Chairman. I am hugely excited about the opportunities that lie ahead for the industry. I look forward to collaborating with my industry colleagues and working under the guidance of our regulator SEBI to propel the mutual fund industry to even greater heights,” said Munot on the appointment.

The decision was taken in the recently concluded Board meeting of AMFI.

“It’s an exciting opportunity to contribute to the growth and development of the mutual fund industry in India. I am eager to work collaboratively with our industry partners and stakeholders to chart a path towards achieving the ambitious goal of managing 100 trillion AUM,” stated Heredia on the appointment.

AMFI was incorporated as a nonprofit corporation on 22 August, 1995. All 44 asset management firms that have registered with SEBI are members as of now.

anil malani

Delta Corp Appoints Anil Malani As New CFO

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For the past 14 years, he has served as the group’s president – operations, along with managing the casino and hospitality divisions

Delta Corp appointed Anil Malani as Chief Financial Officer (CFO), effective from 11 October, 2023.

Anil Malani has gained extensive experience in a wide range of industries, including IT, consumer electronics, office automation and renewable energy over the course of his more than 35 year career, the company stated.

He will replace Hardik Dhebar, who resigned from the position in August this year.

For the past 14 years, he has served as the group’s president – operations, along with managing the casino and hospitality divisions.

Delta Corp.’s net profit for the second quarter increased due to an increase in expenses over the same period last year. The company’s net profit for the quarter ending in September increased 1.7 per cent year over year to Rs 69.4 crore. The gaming and hotel company’s Ebitda decreased by 0.26 per cent to Rs 100.1 crore from Rs 100.3 crore in the prior period.

Anuj jain Indian Oil

Indian Oil Appoints Anuj Jain As Director (Finance)

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Jain has worked in the finance department in Lanka IOC PLC, an Indian Oil subsidiary, and held positions on the board and on the audit committee at Ceylon Petroleum Storage Terminals Limited (CPSTL), a petroleum company in Sri Lanka

 

Indian Oil appointed Anuj Jain as the director (finance) on the board. He was serving as the chief general manager (finance) at the company’s refineries headquarters.

Jain has worked in the finance department in Lanka IOC PLC, an Indian Oil subsidiary, and held positions on the board and on the audit committee at Ceylon Petroleum Storage Terminals Limited (CPSTL), a petroleum company in Sri Lanka.

He has 27 years of experience in corporate finance, treasury and fund management, supply chain optimisation, pricing, shipping and taxation, the press report mentioned.

The Indian Oil, which operates India’s largest refinery and fuel retailer, has an extensive network of more than 60,000 client touchpoints, supported by more than 70.0 million metric tonnes of refining capacity annually (MMTPA) and more than 19,000 km of cross-country energy pipelines. Indian Oil reported revenue from operations of Rs 9,34,953 crores for the fiscal year 2022–2023 and a net profit of Rs 8,242 crores.

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