New CMD For PFC
Power Finance Corporation (PFC) has appointed MK Goel its Chief Managing Director. He already holds a portfolio of Director (Commercial) in the corporation. As Director (Commercial), he was handling flagship projects such as ultra-mega power projects and APDRP. MK Goel holds a Bachelor’s Degree in Technology, specialising in Electrical Engineering from Kanpur University and has experience of over 33 years in the power sector. With his commitment to attain excellence, he is ready to lead the corporation into a new phase of its growth. He has been with PFC for the last 25 years and joined the board in July 2007.
Sanjeev Chadha Promoted As CEO Of Pepsico
PepsiCo has elevated company veteran Sanjeev Chadha as its Chief Executive Officer for the Asia, Middle East and Africa (AMEA) region. Chadha will oversee all aspects of PepsiCo business in the region. AMEA is one of the largest and most profitable regions of the PepsiCo. Sanjeev Chadha will be based at PepsiCo’s Dubai office and will report directly to Indira Nooyi, Chairman and CEO of PepsiCo. A pass-out of IIM Ahmadabad, Chadha has been working with PepsiCo for last 23 years. He headed the firm’s India operations as chairman and CEO between 2007 and 2010. He has worked across multiple functions, including marketing, sales, and franchise at PepsiCO.
SAIL 41ST AGM Held
“Steel Authority of India (SAIL) is working on a long term strategic plan Vision 2025, which will steer your Company towards a target of 50 million tonnes per annum (MTPA) capacity, in line with the Prime Minister’s call for production of 300 MTPA by 2025. This will not only enhance SAIL’s contribution to nation building but will put SAIL amongst the top steel companies globally. Your company already has the land bank and the other necessary infrastructure for expanding its capacity to this level,” said C S Verma, Chairman of SAIL, outlining the company’s ambitious plans to shareholders at the company’s 41st Annual General Meeting held here last week. In the picture, SAIL Chairman CS Verma addressing shareholders at the company’s 41st AGM held in New Delhi.
STEEL Minister Receives Dividend Cheque By KIOCL
The Union Minister of Steel Beni Prasad Verma was presented with a dividend cheque of Rs.6.28 crore by Kudremukh Iron Ore Company Ltd (KIOCL) in New Delhi last week. The CMD, KIOCL, Malay Chatterjee handed over the cheque on behalf of the company. On the occasion, the Minister directed the company to make all out efforts to improve its performance further. During the year 2012-13, KIOCL achieved a profit of Rs.32.34 crore. The Secretary, Ministry of Steel, G Mohan Kumar, Joint Secretaries of the Ministry of Steel and senior officials of KIOCL were also present on this occasion. In the photo, the Union Steel Minister, Beni Prasad Verma being presented a dividend cheque by the CMD, KIOCL, Malay Chatterjee.
Mahindra And Mahindra Promotes Pawan Goenka
Mahindra and Mahindra has promoted Pawan Goenka as Executive Director for a period of five years with immediate effect. In a filing to BSE, Mahindra and Mahindra said, “He will now be designated executive director and president (automotive and farm equipment sectors).” Praising Pawan Goenka, Mahindra Group Chairman Anand Mahindra said: “Pawan has played an integral role in transforming the group’s automotive product development capabilities and has provided growth and strategic direction to both automotive and tractor business.”
BHEL Becomes A Maharatna
Financial year 2013 has been very lucky for Bharat Heavy Electricals Limited (BHEL), as it has got the status of a Maharatna company. It has crossed the Rs. 50,000-crore turnover mark and also achieved the highest ever addition of 10.340 MW to India’s electrical capacity. “Consistent high performance, while operating in a highly competitive environment and fulfillment of the required eligibility criteria has enabled BHEL to attain the Maharatna status,” the company said in a statement. A Maharatna firm can take investment decision of up to Rs 5,000 crore without going to the government. A company qualifying for the Maharatna status should have an average annual turnover of more than Rs 25,000 crore in the last three years, according to the guidelines. Among others, the PSU must have a net worth of over Rs 15,000 crore and net profit of more than Rs 5,000 crore during the last three years.
MSTC Focuses On E-Commerce
Metal Scrap Trade Corporation (MSTC)—a Mini Ratna category 1 PSU under Ministry of Steel, is focusing on strengthening its e-commerce business segment continuously. The company is engaged in providing transparent and efficient mode of business transactions to government departments and PSUs. The company prides itself in not outsourcing any of its e-commerce activities. “STQC has given MSTC a ‘Certificate of Approval’ after finding its e-procurement system fully complied to various government guidelines,” said Chairman and Managing Director SK Tripathi. MSTC will now be able to increase its business under this segment in times to come.
ITI Bags National Safety Award
Indian Telephone Industries (ITI) Limited Mankapur Unit has once again bagged the prestigious ‘National Safety Awards’ from the Ministry of Union Labour & Employment for the performance year 2011 and adjudged winner in two categories of ‘Accident Free Year’ and ‘Lowest Frequency Rate’ for the performance year 2011. ITI Ltd., Bangalore Unit is also adjudged runner up in ‘Accident Free Year’ category for the same year. K L Dhingra, Chairman and Managing Director, ITI Ltd., received the awards for outstanding performance in industrial safety from Sis Ram Ola, Minister for Union Labour & Employment at Vigyan Bhawan, New Delhi last week.
TT LTD Signs Mou With A Chinese Textiles Player
T T Limited, a vertically integrated $100 million plus group, signed a $10-million MoU with one of the largest Chinese textiles player for sale of 100 per cent cotton yarn in the coming year. The MoU was signed by the company Chairman, Dr. RC Jain and its Chinese business partner.
The Managing Director, Mr. Sanjay Kumar Jain speaking on the significance of this MoU said that it is a very important step in building much deeper relationships with our Chinese counterparts. He said already the company is doing good business with China and such an MoU will go a long way in furthering the company’s target of expanding market in the huge Chinese market which has immense potential.
ONGC CMD Awarded
Sudhir Vasudeva, Chief Managing Director, Oil and Natural Gas Corporation (ONGC), was awarded the ‘Best CEO with HR Orientation’ award. He was presented this award by the Institute of Public Enterprises at a ‘World HRD Conference’ in Bengaluru. Fostering a cohesive relationship with various employee groups and other collectives of the multinational majors, Sudhir Vasudeva has been the shaping force behind the streamlining HR practices and allowed greater transparency and increased the efficiency of more than 33,000 workforce of the Maharatna ONGC.