Tata’s Krishna Kumar to be new Tetley chairman
Calcutta: Pursuant to the take over of the UK-based Tetley Tea by the Tata group, Mr. R K Krishna Kumar, a key member of the Tata group and vice chairman of Tata Tea, will take over as chairman of Tetley UK. Mr. Ken Pringle will however continue as the Tetley's CEO.

Mr Krishna Kumar is also the managing director of Indian Hotels, Tata group’s hotels and hospitality flagship.

Mr Krishna Kumar's induction is to be part of Tetley board’s restructuring which will also include the induction of other prominent personnel from Tata Tea, which may include Mr. Percy Siganporia, a full-time director on the Tata Tea board, and Mr. Abhijit Majumdar, former general manager, marketing of Tata Tea.

With the revamp of the board, it is expected that the Tata group would move quickly to infuse synergy between the UK company and Tata Tea.
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People churn in the banking sector
Mumbai: N Rajasekharan, head of consumer banking operations at ABN Amro Bank, who joined the bank last year from Bank of America, where he was heading the risk management function, has quit to join Citibank. He goes back to his old function of risk management at Citibank, where he takes over as head of risk management.

Mr. Nitin Chopra, who was previously part of the retail banking team and is at present with ABN Amro Bank in the Philippines, will take up Mr. Rajasekharan’s function at ABN Amro.

In another development, the post of executive director at IndusInd Bank, which has fallen vacant following the exit of KM Bhattacharya, who is taking over as managing director of Bank of Rajasthan, is likely to be filled in by NK Gupta, currently treasurer at Bank Muscat International, though this could not be confirmed.

These changes come close on the heels of the changes the sector saw only a month ago, when three senior treasury officials at Standard Chartered Bank — Sharat Anand, Janak Desai and Sanjay Bhasin — had quit to set up their own internet venture, Pradeep Saxena, ING Bank’s country head in India left to head iDLX Corporation’s Indian business. More recently, Luis Miranda, treasurer at HDFC Bank has also quit to join as the chief financial officer at Chrysalis Capital, a venture capital.
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Prakash Nedungadi, new ceo at Madura Garments
Bangalore: Mr. Prakash Nedungadi, currently the regional business director in charge of grooming products at Indian Shaving Products Limited, will be the new President of the A. V. Birla Group managed Madura Garments. He is expected to assume responsibility in the new position in June.

He will be the first Birla appointed President of Madura Garments after its take over of the decade old ready-to-wear giant as a going concern from Madura Coats in December last year.

Madura Garments is home to readymade menswear brands like Louis Philippe, Van Heusen, Allen Solly, Peter England, Byford and San Frisco. The company's annual turnover during 1999-2000 was pegged at Rs. 250 crore.
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