Ajay Kapila resigns from LG Electronics
Mumbai: Ajay Kapila, the high-profile vice-president (marketing & sales) of the Indian subsidiary of the Korean LG Electronics, has put in his papers.
Pradeep Tognata, the head of the company's air-conditioning business will be replacing him.
Kapila’s resignation is a matter of conjecture at the moment. While the official version is that he was keen to start his own venture, there are other reports of differences between Kapila and parent company's management on sales and profitability targets.

K R Kim, managing director, denied any intra-company tussles and said that it was Kapila's decision to opt out.

Kapila's resignation comes in the wake of a slump in consumer confidence and huge inventory pile-ups in the consumer electronics industry. The colour television market, has been the worst hit with tough competition, huge price cuts and depressed profit margins.
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EIH chief Bhoothalingam to quit
New Delhi: Ravi Boothalingam president, East India Hotels is set to leave the Oberoi group, when his term of contract ends on June 30. He has decided to set up own consultancy practice, which would be based in New Delhi.

Though the details of the venture are likely to be finalised only by May-end, the focus of his consultancy would be on 'corporate governance and management of change', Bhoothalingam said.

Bhoothalingam had earlier informed the Oberoi top management about his decision against the renewal of his contract. He has been with the group for the last six years.

In his present capacity, he is responsible for the operations of the group worldwide, which generates a turnover of $150 million.

The operations include 34 hotels, airport and flight catering units, restaurant complexes, luxury cruise ships and commercial bakeries in six countries across Asia.

Bhoothalingam's decision coincides with the Oberoi group's plan to achieve an international stature.

Prior to joining the Oberoi group, he had served as head of personnel worldwide with BAT Plc (London), managing director of VST Industries and director ITC. He served in the ITC group for 26 years, and during which also worked with its hotels division.
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Alliance Cap reshuffles management
Mumbai: In the wake of the exit of its country sales manager Sandeep Dasgupta, Alliance Capital, India’s second-largest private sector mutual fund, is restructuring its management.

Alliance Capital has been without a head of its sales and marketing function since Dasgupta has left to join as of CEO of Deustche Bank Asset Management, which plans to start its MF operations soon.

Nikhil Johri, CEO, Alliance Capital Asset Management India said that the company has now split its sales and marketing functions and appointed Deepak Mungla formerly head of the Northern region operations as head of all India sales.

Alliance MF has also set up a zonal structure for its all India sales and marketing function in line with the practice followed by most other private sector MFs and has appointed Anand Subramaniam as its head of southern region, Mangesh Shringarpure as its head of Western region and Sanjay Roy as head of eastern region.
A head for its northern region zone is in the process of being appointed.
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Terry Semel to be chairman & CEO of Yahoo! Inc
Santa Clara: Yahoo! Inc. has announced that Terry S Semel, a veteran Warner Bros executive, will be the company's chairman and chief executive officer effective May 1.

Tim Koogle the current chairman and CEO would be the vice-chairman, a position he will retain until August, after which he would continue on Yahoo's board of directors, the company said on Tuesday.

Yahoo is struggling to cope with the downturn in the economy with a consequent huge drop in Internet advertising.
Earlier this month, Yahoo announced its second straight net loss -- $11.5 million in the first quarter, or 2 cents a share, compared with a profit of $67.6 million, or 11 cents per share, in the corresponding period of 2000 -- and said it was cutting 12 per cent of its workforce.

Terry Semel has a brilliant record behind him. He and partner Robert Daly helped turn Warner Bros into one of the world's largest media and entertainment enterprises during Semel's 24 years with the company.
Under their leadership, Warner Bros achieved 18 consecutive years of record profits and revenues.
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