Corporate Notes

Written by fe Bureaus | Updated: Oct 30 2009, 05:54am hrs
Unilever to replace more senior managers in Nov

Unilever, the world's second-biggest consumer-products maker, plans to replace more of its senior managers next month, chief executive officer Paul Polman said. Since taking the helm in January, Polman has replaced '40 of the top 100 people' and Unilever "will be going through another round in November," the CEO said on Wednesday at a conference of the American Chamber of Commerce in Amsterdam.

ArcelorMittal's open offer

Pending regulatory clearances may delay ArcelorMittal's acquisition of additional stakes in Uttam Galva through an open offer. The steel behemoth aims to complete the deal by mid-December. The proposed deal is likely to be discussed in the Foreign Investment Promotion Board meeting scheduled for Friday.

Taro directors misusing fund

Sun Pharmaceuticals has accused directors of Taro of misusing the company's money on litigations and said it would hold them accountable, once it acquires control of the Israeli firm. "Of course, as in the past, they (directors) are doing all these (litigation against Sun) using Taro's money, in which they hold less than 12% economic stake," Sun Pharma CMD Dilip Shanghvi said.

New Crisil chief

Rating agency Crisil has appointed Deven Sharma as its chairman. Sharma was serving as the president of Standard and Poor's since 2008. He joined S&P in 2007, after five years at the McGraw-Hill Companies as executive vice-president in charge of global strategy, a release said on Thursday.

Aurobindo nod

Drug firm Aurobindo Pharma on Thursday said it has received approval from the South African regulator to manufacture and market auro ampicillin injection, an antibiotic used to treat bacterial infections, and auropidone tablets in that country.

Gate expansion

iGate, an integrated technology and operations company, on Thursday launched the phase four of its global delivery facility at its corporate campus in Whitefield area of Bangalore. The facility, which provides 115,000 sqft of additional workspace in the company's green 13.5-acre campus, is part of the firm's green initiative aimed at bringing down its carbon footprint and conserving power and water.

Aircel scheme

Aircel on Thursday said it has launched a scheme in Delhi, which will allow subscribers on Aircel network to make local and STD calls for 1 paise per second.

Zee Ent board nod

Zee Entertainment Enterprises on Thursday said its board has approved acquisition of its group firm, Zee News Ltd's regional general entertainment business, on a share swap deal basis.

Bajaj Electricals war chest

The Shekhar Bajaj-run Bajaj Electricals plans to raise up to Rs 175 crore through the qualified institutional placement (QIP) route to meet its working capital expenses, reduce debt and normal capex requirements.

GE India president & CEO

General Electric Company chairman and CEO Jeff Immelt has announced the appointment of John Flannery as president and CEO of GE's business operations in India.

Goltens workshop

Goltens, one of the world's leading ship maintenance and repair companies, has launched its state-of the art workshop facility in Navi Mumbai. Goltens is investing $10 million across four new facilities in Asia-Pacific, including the India centre.

iGate expansion

iGate, an integrated technology and operations company, on Thursday launched the phase four of its global delivery facility at its corporate campus in Whitefield area of Bangalore. The facility, which provides 115,000 sqft of additional workspace in the company's green 13.5-acre campus, is part of the firm's green initiative aimed at bringing down its carbon footprint and conserving power and water.

Correction

We interviewed Neeraj Roy, MD & CEO, Hungama Digital Media, for the Insight Showbiz page of The Financial Express dated October 27, and not Vipul Shah, as mentioned in the headline. The error is regretted.