G.P. Goenka to be executive chairman of Duncans
Calcutta: Gouri Prasad Goenka will take up executive powers at Duncans Industries. Mr Goenka has been a non-wholetime director of the company. He is likely to be executive chairman of the company at a fixed remuneration.

Kamal Siddiqi, a Singapore resident and diplomat, is expected to join the Duncans Industries board as a nominee of Temasea Holdings, the investment arm of the Singapore government, which is a minority-shareholding partner of the company.
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Rajesh Shah on IFCI board
Calcutta: Rajesh Shah, managing director of Mukand, and former president of Confederation of India Industry, is joining the board of Industrial Finance Corporation of India. Mr Shah will fill the vacancy that will be created by the exit of Dhruv M. Sawhney, who has expressed his desire to step down from the board and not seek re-election.

The IFCI board has been recast. The financial institution has appointed Prasanna Chandra of the Centre for Financial Management and Ashok Lahiri of the National Institute of Public Finance and Policy to the board. These appointments come up for approval at the institution's 23 September annual general meeting.
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Pure Drinks MD held
New Delhi: Pure Drinks (New Delhi) managing director Ajit Singh was arrested and remanded to 14 days' judicial custody for alleged evasion of sales tax of over Rs 1.23 crore.

The sales tax department said the company had collected Rs 1,23,80,293 from its customers as sales tax between 1 October 1997 and 11 November 1998, but failed to deposit the amount with the government.
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Indian heads of Stanchart report to London
Mumbai: All the operational heads of Standard Chartered Bank in India -- Jaspal Bindra (corporate finance), Harpal Duggal (consumer banking) and Sharad Anand (treasury) -- will directly and exclusively report to John Filmeridis, chief executive officer, Standard Chartered Bank in India. 

Earlier, the heads of various functions in India used to report to Asia region department heads. The bank has recently converted its Indian operations into a distinct geographical entity reporting directly to London.

Analysts see this recast as a sign of greater importance being given to India in the worldwide revamp initiated by Stanchart's Indian chief Rana Talwar. Stanchart's group executive director Christopher Castleman has said the bank plans to grow in India via acquisitions.
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Marineau leaves Pepsi
New York: Philip Marineau, president and chief executive officer, PepsiCola North America, is leaving the company to become president and chief executive officer of Levi Strauss.

Tipped to become the top man at PepsiCo, Mr Marineau is credited with turning around PepsiCo's softdrinks operations and has been responsible for launch of Pepsi diet drinks. PepsiOne is his creation. He is also the creator of  the "Joy of Cola" marketing campaign for the company.
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