HR Movements: 14 Nov, 2016

1.

Cyrus Mistry replaced by Ishaat Hussain as TCS interim chairman

Hussain shall hold office as chairman of the company until a new chairman is appointed in his place. 

In yet another setback for Cyrus Mistry, Tata Sons nominated Ishaat Hussain as chairman of the Tata Consultancy Services board. This was decided on Wednesday when Tata Sons called for an extraordinary general meeting (EGM) to remove Mistry as chairman of TCS. Hussain will be replacing Mistry as chairman until a permanent appointment will be made to the board.  

Hussain, a director of several Tata companies, including Tata Steel and air conditioning and engineering arm Voltas Ltd, currently serves as chairman of Voltas and satellite television provider Tata Sky. 

TCS said it has received a letter dated November 09, 2016 from Tata Sons Limited nominating Ishaat Hussain as the Chairman of the Board of Directors of the Company in place of Cyrus P. Mistry with immediate effect. In view of this, Mistry has ceased to be the Chairman of the Board of Directors of the Company and Hussain is the new Chairman of the Company. The Company has been further informed that Hussain shall hold office as Chairman of the Company until a new Chairman is appointed in his place," said the statement. They have also informed Bombay Stock Exchange about Mistry’s removal.

2.

Saptarshi Roy takes over as director-HR of NTPC

Roy succeeds UP Pani who retired this October.

As per media reports, Rekhy wrote a mail to KPMG employees, where he mentioned that, he has advised NTPC (National Thermal Power Corporation) has appointed Saptarshi Roy as director-HR. In March this year, Roy was selected to succeed UP Pani, the former director-HR as he was to retire in October.

Roy’s name was recommended by the Public Enterprise Selection Board (PESB) from amongst ten other candidates — five from NTPC and the rest from companies like PGCIL, NHPC, STC and DoT.

He joined NTPC as an engineering executive trainee on 15 November, 1980, and has served the company in various capacities.

Roy, 56, is a graduate in electrical engineering, with a career spanning over 36 years of outstanding contribution to NTPC as regional executive director (North and ER-I regions) as well as executive director (corporate planning) besides head-HR, projects and corporate office.

3.

ABP News’ Subhankar Ghose joins Zoom Insurance Brokers as chief people officer

This shift from ABP News marks Ghose’s return to the BFSI industry.

Subhankar Ghose, erstwhile head-HR of ABP News has moved back to the BFSI industry as chief people officer, Zoom Insurance Brokers.

In his new role, Ghose will be leading the human resource function and be responsible for talent acquisition, talent management, leadership development, compensation & benefits and employee relations. His additional responsibilities will include administration and information technology. He is also a member of Zoom’s executive management team.

Ghose, an engineer who got his degree in electronics and telecommunication from the National Institute of Technology and holds a PG Diploma in HRM from IMT Ghaziabad, has spent a significant part of his career – around eight years – in the BFSI sector. Prior to this, he has worked for companies, such as Muthoot Fincorp and ICICI Prudential Life.