English हिन्दी
Connect with us

Latest business news

Cyrus Mistry, former Tata Group chairman, dies in road accident in Palghar

The official said four people were in the car when the accident happened, of which two succumbed to injuries.

Published

on

Cyrus Mistry, former Tata Group chairman, dies in road accident in Palghar

Industrialist and former Tata Sons chairman Cyrus Mistry died in a car accident on Sunday. The accident took place in Palghar at around 3:15 pm on a bridge over the Surya river when the 54-year-old was travelling to Mumbai from Ahmedabad. The industrialist succumbed to injuries.

According to the reports, Mistry was returning from Ahmedabad when his car hit the divider on the road. The reports of his demise have been confirmed by the Palghar Superintendent of Police.

The official said four people were in the car when the accident happened, of which two succumbed to injuries. The other two, including the driver, have been injured. All the injured have been admitted to a local hospital in Kasa. The industrialist was travelling in a Mercedes car.

Mistry is survived by his wife Rohiqa Chagla, the daughter of lawyer Iqbal Chagla and granddaughter of jurist M.C. Chagla, and two sons Firoz Mistry and Zahan Mistry.

Cyrus Mistry’s daughter Aloo is the wife of Noel Tata, Ratan Tata’s step-brother.

All you need to know about Cyrus Mistry

Cyrus Pallonji Mistry was the sixth chairman of the Tata Group and only the second after Nowroji Saklatwala, to not bear the surname Tata.

After Ratan Tata announced his retirement in December 2012, Cyrus Mistry took over as chairman.

He assumed leadership of the Tata Group in December of that year after being chosen by a selection committee in mid-2012. But after 4 years he was removed in a boardroom coup led by Tata Trusts, which owned 66 per cent of Tata Sons and was controlled by Ratan Tata.  

Natarajan Chandrasekaran was appointed as the new chairman a few months after the former chairman, Ratan Tata, returned as an interim chairman.

In May, the Supreme Court rejected a petition by the Sapoorji Pallonji (SP) group asking for a review of the 2021 judgement upholding the Tata group’s decision to oust Cyrus Mistry as executive chairman of the Tata Sons.

After his Tata stint, Cyrus went on to set up a venture capital firm, Mistry Ventures LLP.

Latest business news

Nykaa CFO Arvind Agarwal resigns

Arvind Agarwal earlier worked with Amazon and joined Nykaa in July 2020.

Published

on

Arvind Agarwal

Nykaa chief financial officer Arvind Agarwal resigned from his position on Tuesday. The fashion and beauty e-commerce platform announced his resignation.

In a BSE filing, Nykaa informed that Agarwal will be leaving the Company, effective close of business hours on November 25, 2022, to pursue other opportunities in the digital economy and start-up space.

Nykaa’s founder Falguni Nayar hailed Agarwal for the crucial role he played in the company’s emergence as a listed and profitable start-up. Nayar said the company is conscious of Agarwal’s personal dreams and wishes him all the luck.

Upon his resignation, Agarwal said his journey in Nykaa has been incredible so far and all his learning and experiences have set them up for pursuing different personal growth opportunities in the field. He further wished Nykaa good luck for the growth path ahead.

Read Also: Vadh trailer out: Sanjay Mishra, Neena Gupta steal hearts with their expressions and intriguing storyline | WATCH

Arvind Agarwal earlier worked with Amazon and joined Nykaa in July 2020. He was among the key managerial personnel and handled the initial public offer of the firm. Before Amazon, Agarwal worked with Vodafone India for more than 5 years. He had also worked with YOU Telecom, Adani Port, and Tata Teleservices.

Reports said Agarwal paid a total remuneration of Rs 19.58 million during the financial year 2021.

Apart from Nykaa, food delivery application Zomato also saw the resignation of its co-founder Mohit Gupta after 5 years of association with the company.

Gupta, in a message, stated that he decided to move on from Zomato to seek other unknown adventures. He also hailed Deepinder Goyal as he has become a more mature and confident leader who is capable of leading the business into a bright future.

From Amazon to Croma, check top offers on gadgets during Black Friday sale

Gujarat Polls: Ex-Congress MLA Kaminiba Rathod joins BJP, was upset over ticket distribution

Continue Reading

Latest business news

Jeff Bezos warns of recession, advises people to refrain from buying TV, fridge, cars during holiday season

The former CEO of Amazon also advised small business owners to put off purchasing new equipment in favour of increasing their cash reserves.

Published

on

Jeff Bezos warns of recession, advises people to refrain from buying TV, fridge, cars during holiday season

In light of the possibility of a global recession, Amazon founder Jeff Bezos advised consumers to refrain from making significant purchases during the holiday season. Given the state of the economy, he urged people to keep their money safe and refrain from irrational spending in the upcoming months.

The business tycoon said American families should avoid purchasing big-ticket items such as new cars, TVs, automobiles, and refrigerators as the US is staring at a recession. He said American household debt has reached a record high of $16.5 trillion, and people are switching to credit to get their ends meet.

The former CEO of Amazon also advised small business owners to put off purchasing new equipment in favour of increasing their cash reserves.

Bezos said Take some risk off the table, adding, Keep some dry powder on hand. Just a little bit of risk reduction could make the difference for that small business if we do get into even more serious economic problems. You’ve got to play the probabilities a little bit.

He said things are slowing down and many sectors of the economy are seeing layoffs, and this is why you should hold onto your money.

Meanwhile, the founder of Amazon stated in the same interview that he will contribute the majority of his $124 billion income to charitable organizations in order to combat climate change and to help those who can bring mankind together in the face of escalating social and political conflicts.

Bezos did not say how much of his money he intended to donate. But he said, Yeah, I do, in response to the question of whether he will donate a significant percentage of his wealth to charity.

Continue Reading

Latest business news

Twitter hit with mass resignations ahead of Elon Musk’s hardcore ultimatum

So far, Musk has told employees to prepare for 80-hour weeks, no free food, and made several changes to the company’s work-from-home policy.

Published

on

Elon Musk

Twitter has been in a state of chaos ever since Elon Musk took over the microblogging platform last month. Hundreds of employees resigned on Thursday, ahead of the billionaire’s ultimatum to the company’s surviving employees, in yet another sign of turmoil at the company.

The move came after Elon Musk gave an ultimatum to employees to either agree to his extremely hardcore way of working or quit the company. Employees sent an email to all the surviving employees outlining Twitter 2.0, which means long hours and high intensity. The employees were required to click yes by 5 pm ET (3:30 am IST) today if they confirmed being part of this company or could resign.

Most US workers who choose no will be compensated for two months’ benefits-covered pay and one month’s severance pay if they agree to a future separation agreement.

Read Also: Delhi LG VK Saxena orders CM Kejriwal to remove Jasmine Shah as DDC Vice Chairman for misusing his powers

Soon after, mass resignations hit Twitter as a large number of employees decided to leave. In view of this, the company temporarily shut down offices to avoid confusion over who still had access to company property.

After widespread layoffs that took place soon after Musk took over the firm and fired more than half of Twitter’s workforce, only about 3,000 employees were left.

One of the employees shared a heartfelt post on Twitter after his resignation. He wrote And just like that, after 12 years, I have left Twitter. I have nothing but love for all my fellow tweeps, past and present. A thousand faces and a thousand scenes are flashing through my mind right now – I love you Twitter, and I’ll forever bleed blue.

So far, Musk has told employees to prepare for 80-hour weeks, no free food, and made several changes to the company’s work-from-home policy.

PM Modi says all terrorist attacks deserve equal outrage in his address at third No Money for Terror global meet

BJP releases list of 40 star campaigners for upcoming bypolls in Uttar Pradesh

Continue Reading

Trending

-->

© Copyright 2022 APNLIVE.com