Latest news with #corporatechange
Bloomberg
2 days ago
- Business
- Bloomberg
Activist Retail Investors Take On Korea's Corporate Laggards
South Korea's small investors are trying to shake up the country's creaky corporate landscape. Amateur stock-pickers across the country are gathering on social media platform KakaoTalk and dedicated shareholder apps such as Act, which has racked up more than 110,000 users in the two years since it launched. Their aim: to give a jolt to Korea's $1.9 trillion stock market, which has for years traded at cheaper multiples than regional rivals like Japan and Taiwan.
National Post
4 days ago
- Automotive
- National Post
TVS Motor Announces Sudarshan Venu as Chairman of the Company Effective August 25, 2025
Article content BENGALURU, India — TVS Motor Company announced today that The Board of Directors unanimously named Mr Sudarshan Venu as incoming Chairman of the Company, in recognition of his exemplary contributions to the Company's sustained growth and strategic development during his tenure as Director. Effective August 25, 2025, Mr Sudarshan Venu will be appointed as Chairman and Managing Director. Article content Its current chairman, Sir Ralf Speth, has informed The Board of Directors that he will not be seeking re-appointment as a company Director at the upcoming Annual General Meeting (AGM). Consequently, he will step down as Chairman of the Company at the close of the AGM on August 22, 2025. Article content Article content The Board will also be appointing Sir Ralf Speth as Chief Mentor of the Company for a period of three years effective August 23, 2025, ensuring continued benefit from his extensive knowledge, experience and expertise. Article content Mr Venu Srinivasan, Chairman Emeritus, TVS Motor Company Article content ' Article content I express my sincere gratitude to Ralf for his exceptional leadership as Chairman over the last three years. His contributions have been invaluable in guiding our strategic expansion into global markets and fostering innovation that has significantly strengthened our industry standing. We are grateful for his continued support as Chief Mentor for TVS Motor and in welcoming Sudarshan into his new role. I am confident that Sudarshan, who in his capacity as Managing Director has demonstrated tremendous growth for the business, will take the Company to even greater heights Article content .' Article content , said, Article content ' Article content It has been an honour for me to steer TVS Motor Company as its Chairman over the last three years. I am grateful for the support, cooperation, and personal friendships developed during my tenure. As I hand over the Chairmanship to Sudarshan, I am confident that under his leadership, the Company will continue its growth journey while championing core TVS values. Sudarshan's dynamism and passion underscore his vision for the business, and I am confident that TVS is in safe, responsible hands. I wish Sudarshan and TVS Motor a bright future ahead Article content , said, Article content ' Article content I am very thankful to the Board for giving me this singular opportunity. I am really honoured and excited for the future and look forward to their continued support. TVS has been built on our Chairman Emeritus's commitment to customer centricity, quality and technology. As we look to the future we have to build on these values while capitalising on new opportunities and reimagining for the future. I am most grateful to him for his continued guidance. Article content ' Article content Sir Ralf has been instrumental in challenging and mentoring us to expand more globally, onboard international talent, embrace newer processes, and invest in future products and technology. I look forward to his continued mentorship as our Chief Mentor. Importantly, TVS has grown due to the passion and energy of the entire team. I look forward to the continued partnership in our shared future. Article content About TVS Motor Company Article content TVSM is a reputed two and three-wheeler manufacturer globally, championing progress through sustainable mobility with four state-of-the-art manufacturing facilities. Rooted in our 100-year legacy of trust, value, and passion for customers, it takes pride in making internationally accepted products of the highest quality through innovative and sustainable processes. Our group company Norton Motorcycles, based in the UK, is one of the most emotive global motorcycle brands. Our subsidiaries Swiss E-Mobility Group and EGO Movement have a leading position in the e-bike market in Switzerland. Article content Article content Article content Article content Article content
Fast Company
02-06-2025
- Business
- Fast Company
This company asked most corporate employees to relocate to Chicago. The majority declined
In January, Fortune Brands Innovations, whose portfolio includes home and security brands such as Moen and Master Lock, announced it was consolidating its regional U.S. offices into one state-of-the-art campus in Deerfield, Illinois. As part of that effort, they are requiring the majority of corporate employees to move to the Chicago suburb. When asked to relocate, most of these employees declined—but the company said it expected that, and in a conversation about the transition, CEO Nicholas Fink framed the changes ahead as a positive for the company. He added that while many opted out of relocation, the company still exceeded industry benchmarks for the number of people who said 'yes' to the move. 'To be candid, it's a big change for a lot of people,' says Fink, who declined to share more specific figures. 'There are people who are committed to their communities and their families and aren't interested in a move. . . . And then there are people who are very excited to be a part of this.' The company asked employees from eight sites across the U.S., as well as some remote employees, to relocate. It will eventually ask employees from a ninth site to relocate as well. The company's manufacturing facilities, distribution centers, and international sites, as well as its digital-focused San Francisco office, will remain open. The extended deadline for Fast Company's Brands That Matter Awards is this Friday, June 6, at 11:59 p.m. PT. Apply today.
Telegraph
22-05-2025
- Business
- Telegraph
BT parts with HR chief in wake of DEI embarrassment
BT has parted ways with its human resources (HR) chief in the wake of an embarrassing about-turn over the company's DEI strategies. The Telegraph has learnt that Athalie Williams, BT's chief people and culture officer, is stepping down after less than two and a half years in the role. She will be replaced by Alison Wilcox, who previously served as the telecoms giant's group HR director before taking up non-executive positions in the NHS. BT said Ms Williams was departing for personal reasons. The executive is understood to be going back to her native Australia to spend time with her family. The BT HR role is hugely influential, given the telecoms giant employs more than 90,000 people. The change in personnel comes after several incidents that threw BT's human resources policies into disarray. The company last month dropped the diversity, equity and inclusion (DEI) measure in its manager bonus scheme – which accounted for 10pc of the incentive – and replaced it with a measure of employee engagement. BT said it was making the change with 'strong support' from shareholders. However, the move was in direct contrast to comments from Allison Kirkby, BT's chief executive, who criticised other companies for watering down their DEI targets in the wake of Donald Trump's re-election. In a memo to staff earlier this year, she said: 'I believe we need to be as diverse as the customers we service, to be the customer-centric company we aspire to be and to be able to live up to our purpose. 'When we determine to be inclusive, we create an environment where everyone, no matter their background or characteristics, feels respected, valued and like they belong.' In a further embarrassing incident, it emerged that BT had spent more than £1m on a leadership guru for senior executives who fell asleep in meetings. Dan Spiwack, the chief executive of US-based JMW Consultants, was brought in on a nine-month contract to offer training to top bosses. However, he was soon branded a 'running joke' internally after repeatedly falling asleep because of heart medication he was taking. Ms Kirkby is understood to have appointed Mr Spiwack on the recommendation of BT's HR department following an open procurement process. The contract was not renewed. Operations overhaul BT's chief executive has been attempting to shake up the lumbering telecoms behemoth since taking over the top job early last year. She has made a number of senior leadership changes and is trying to refocus BT on its core mobile and broadband offerings. This includes shelving plans to ditch BT as the company's flagship brand for millions of consumers and carving out the group's international operations ahead of a potential sale. Ms Kirkby is also pushing ahead with plans to cut tens of thousands of jobs by the end of the decade. In a further sign that BT is refocusing on its core offering, the company is reportedly closing in on a deal to sell its 50pc stake in TNT Sports to joint venture partner Warner Bros Discovery. The sale of the channel, formerly known as BT Sport, would end the company's expensive foray into sports broadcasting after more than a decade. BT moved into sports under Gavin Patterson, then-chief executive, in the hope that winning sought-after rights would help boost its broadband customer numbers. However, competing against Sky in the areas has proved costly. The strategy overhaul comes amid pressure from Sunil Bharti Mittal, the Indian telecoms billionaire who last year became the company's largest shareholder. Mr Mittal has built a 24.5pc stake in BT and has summoned executives for meetings as he uses his investment to exert influence, though BT has insisted that he is supportive of its strategy. BT's shares are up more than 50pc since the start of Ms Kirkby's tenure in a sign that investors have welcomed her pledge to slash costs and scale back heavy investment in broadband infrastructure. She will face another key test of her progress on Thursday morning when BT announces results for the full year. A BT spokesman said: 'Athalie Williams, chief people and culture officer, has decided to return to her family in Australia and retire from executive life to pursue a portfolio career. She will continue to support on her handover to Alison Wilcox, who will return to BT to take on this role from June 1. 'We remain committed to our inclusion and representation aspirations to better reflect the customers and communities we serve, and we are making good progress towards them. We have received strong support from our shareholders on the proposals to amend our group scorecard. 'BT Group works with external advisors to support strategic programmes, and following a competitive procurement process engaged JMW Consultants to deliver projects focused on enhancing leadership performance. These projects took place over the course of 2024, and concluded at the end of year.'
