SS Lee takes over as Samsung India head
New Delhi: SS Lee is the new managing director of Samsung’s Indian operations. He takes over from KS Kim who was managing director of Samsung India from September 1998 to March 2001.

SS Lee was earlier the chief of Samsung’s Vietnamese operations.
K S Kim goes back to the head office in Korea on a promotion as vice president sales and marketing of the video display division.
SS Lee is the third Samsung head in India since it started operations, Lee would head both its consumer electronics and home appliance arm - Samsung India Electronics and its IT and telecom arm, Samsung Electronics India Information and Telecommunication.
Back to News Review index page  

Silverline appoints Rajan Nair as COO
Mumbai: Rajan Nair is the new chief operating officer of Silverline Technologies. He was earlier the COO of SeroNova and his appointment follows Silverline's acquisition of SeraNova on March 6, 2001.
Back to News Review index page  

IBL CMD Salil Punoose resigns
Mumbai: Salil Punoose, chairman and managing director of International Bestfoods, IBL, has resigned.
M K Sharma, Hindustan Lever Ltd’s, HLL, vice-chairman has been appointed the new non-executive chairman of the company.
This is the fourth resignation of senior managers--who were with IBL earlier-- in the last three months following the take over of IBL by HLL.

Punoose was with HLL for 22 years before moving to International BestFoods (then called Corn Products ltd) in 1997. It had been rumoured for a while that Punoose would soon quit.

Since January 2001, HLL and IBL have formalised a joint-selling agreement between the two whereby the former is now selling and distributing IBL products.
As per the agreement, the entire 220 strong sales force of IBL is to be merged with the HLL’s sales force of about a thousand.
The agreement came six months after BestFoods, the maker of Skippy peanut butter and Hellmann’s mayonnaise, was purchased by Unilever globally. The deal took place in June 2000 in an all-cash deal worth $20.3bn, or $73 a share.
Back to News Review index page  

Gelli will no longer be MD; to retain chairmanship
Mumbai: Ramesh Gelli, CMD, Global Trust Bank, is to surrender the post of managing director to a professional manager. However, he continues to be chairman.
Senior officials at GTB, responding to a query as to whether the bank was following directions from Reserve Bank of India, said that it was the bank’s internal decision.

The Hyderabad-based private sector bank has sought the Reserve Bank of India’s permission for splitting the CMD post into chairman and managing director by June 30.

Gelli’s term officially ends on March 31 and the bank board has proposed a three-year renewal. However, his future role in the bank board will depend on the central bank’s decision. If the merger with UTI Bank had not fallen through, Gelli’s term would have ended on the effective date of merger.
Back to News Review index page