· Mahendra Singh is new Sterlite CEO
· Hero Honda Motors joint MD resigns
Mahendra Singh is new Sterlite CEO
In a top level management change, Anil Agarwal's Sterlite Indus tries Ltd on Friday appointed Mahendra Singh Mehta as chief executive officer (CEO) of its Indian operations and brought Dindayal Jalan back as the chief financial officer (CFO) with immediate effect. “The board of directors of Sterlite Industries today approved the change in its CEO and CFO...The appointment comes into immediate effect”, the company said in a communique to the Bombay Stock Exchange.
Hero Honda Motors joint MD resigns
Hero Honda Motors Ltd, India's largest motorcycle maker, said its joint managing director Toshiaki Nakagawa has resigned from the company effective 22 March.
Last month, Hero Investments agreed to buy Honda Motors' 26% stake in Hero Honda Motors for around $851 million (around `3,800 crore), with the Japanese auto maker exiting its joint venture in India after more than 26 years.
Tata Steel makes TCIL its subsidiary
Tata Steel Ltd on Friday said it has made The Tinplate Co. of India Ltd (TCIL) its subsidiary by increasing its stake in the company by 16.57% to 59.45%. “TCIL has become a subsidiary of the company with effect from 1 April 2011, consequent to increase in the company's shareholding in TCIL from 42.88% to 59.45%", Tata Steel said in a filing to the Bombay Stock Exchange.
This increase is due to automatic and compulsory conversion of 3% fully convertible debentures of `100 each into equity, the filing added.