Palany to head Sundaram's home finance unit
Mumbai: Nitin Palany, formerly managing director of Gruh Finance, has been engaged by Sundaram Finance, the oldest and one of the most respected non-banking finance companies in India, to head its home finance venture, Sundaram Home Finance.

Mr Palany has taken over as chief executive officer of Sundaram Home Finance recently.
Back to News Review index page

Intuit CEO Bill Harris resigns
Palo Alto: Intuit said its chief executive Bill Harris has resigned. Mr Harris, described as the architect of the company's successful internet strategy, will return to his roots as an entrepreneur.

Bill Campbell, chairman of the company, is expected to assume charge of day-to-day operations of the company until a new chief executive is found.
Back to News Review index page

DaimlerChrysler axes Stallkamp
Frankfurt: True to expectations, DaimlerChrysler cut its management board, ousting Thomas Stallkamp, a Chrysler veteran highly regarded in Detroit and Wall Street, and placing chairman Juergen Schrempp, chairman of the company, firmly at the helm.

The company said it has cut the board from 17 to 14 members by dropping two North American and one German executives. From 1 October, the board will have joint chairmen -- Mr Schrempp and Robert Eaton.

Mr Stallkamp's departure is expected to damage the morale of the company's US employees and deepen fears that the "merger of equals" may ultimately turn out to be a German takeover.
Back to News Review index page