People on the move:

20 December 2004

24 December 2004

Sankalp Saxena takes over as CMD at Macromedia
Bangalore: Macromedia has appointed Sankalp Saxena as chairman and managing director for its India operations. Saxena previously served as chairman and managing director of i2 Technologies India.

Saxena will be responsible for setting up a research and development team to complement the global development and delivery model for Macromedia products in India, said a company press release.

23 December 2004

P.J. Nayak back as CMD of UTI Bank
Mumbai: Dr P J Nayak has been re-appointed as the chairman and managing director of UTI Bank. The bank's board has taken this decision a week after it decided to split the CMD post into the non-executive chairman and the managing director.

In the last board meeting, Dr Nayak, reportedly, was offered the post of managing director, minus that of the chairman, which he declined. The board has recommended a second five-year term for Dr Nayak, whose current term would have ended on December 31, 2004. However, Dr Nayak has decided to continue only till July 2007 when he completes 60 years of age, the regular retirement age in UTI Bank. "