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Rahul Bajaj on NYSE board
Pune: Mr. Rahul Bajaj, chairman and managing director of India’s largest
two-wheeler manufacturing company, has become the first Indian to be nominated on the
advisory board of the New York Stock Exchange for Asia-Pacific.
Viewed by all as the "corporate voice of India", Mr. Bajaj was reportedly wooed
for eighteen months by the NYSE chairman, Mr. Richard Grasso, before he agreed to the
position. The appointment was recently announced by Mr. Grasso, at a breakfast meet
organised by NYSE chairman Richard Grasso for top Indian and US corporates along with
finance minister, Mr. Yashwant Sinha.
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P&G head, Mr.
Durk Jager, to resign from three top posts
Cincinnati: In what is seen to be the outcome of disappointing earnings at the FMCG
major, Procter and Gamble, the company’s chief executive officer, Mr. Durk Jager
– who took over in January 1999 -- is stepping down unexpectedly from the three top
jobs at the consumer products company.
The company moved quickly to fill in the gap. It announced that, Mr. Alan Lafley, 52,
president of its divisions for global beauty care and North America, will take over as
president and chief executive of the company. Additionally, Mr. John Pepper, who was
chairman and chief executive till his retirement in January 1999, will take over again as
chairman.
The Netherlands-born Jager, who had led a global restructuring of the company, will retire
effective July 1, after 30 years with the company.
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3 new directors on McDowell
board
Bangalore: In achieving corporate governance, UB group's flagship McDowell &
Company has appointed three non-executive directors on its board as per Sebi norms.
At a meeting of the board of directors held recently, three external directors on the
board. These directors will also head three committees to achieve corporate governance.
The directors are :
Mr. M R Doraiswamy Iyengar, a tax consultant,
who will head the audit committee.
Mr. P K Kakodkar, former managing director of
Roussel Pharmaceuticals, who will head investor relations sub-committee of the board; and,
Mr. B M Labroo, of Indo-Asahi Glass, will
head the executive compensation committee.
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