Latest news with #corporategrowth
Entrepreneur
17 hours ago
- Business
- Entrepreneur
Group's Governance Is of Global Standards: Gautam Adani Confronts Crisis; Highlights Record-Breaking Revenue
He asserted that the Group's governance "is of global standards" and that its compliance frameworks "are non-negotiable." You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Gautam Adani, in a solemn yet determined manner, confronted the past year's turbulence head-on, acknowledging both national grief and corporate challenges while reaffirming a sweeping vision for India's future. Beyond the emotion, Adani addressed the crisis that directly hit the Adani Group last year. Allegations from the U.S. Department of Justice and the SEC regarding Adani Green Energy cast a shadow on the conglomerate. Adani stated unequivocally at the Adani Group's Annual General Meeting 2025, "No one from the Adani Group has been charged with violating the FCPA or conspiring to obstruct justice… We live in a world where negativity often echoes louder than the truth." He asserted that the Group's governance "is of global standards" and that its compliance frameworks "are non-negotiable." Despite the controversy, he pointed to a year of "record-breaking revenue, unprecedented growth, and historic profitability." Backing that assertion, Adani Enterprises reported a sharp jump in its consolidated net profit for the fourth quarter of FY25, posting INR 3,845 crore, an increase of 753 per cent from the INR 451 crore reported in the same period a year earlier. The surge was largely due to a gain of INR 3,286 crore, as detailed in the company's stock exchange filing. This marked a strong rebound from the previous quarter, when net profit had slumped to INR 58 crore amid weakness in the coal trading segment. Revenue from operations for the January–March quarter stood at INR 26,966 crore, down 8 per cent year-on-year, but up 18 per cent sequentially. For the full year ending March 31, 2025, Adani Enterprises delivered a 119 per cent increase in consolidated net profit at INR 7,099 crore, with annual revenue rising modestly to INR 97,895 crore. Expenses grew slightly to INR 93,832 crore. But Adani emphasized this was not just about numbers. "We do not just build businesses—we build India's capabilities," he said. Citing the conglomerate's expansion across sectors from power and ports to data centers and defense, Adani outlined an ambitious path forward. Adani Power crossed 100 billion units of generation, while Adani Green is building what he described as "the world's largest renewable energy park," targeting 50 GW by 2030. Combined, the group expects to hit 100 GW across thermal, renewable, and pumped hydro by the same year. Adani Energy Solutions secured INR 44,000 crore in transmission orders and is executing smart metering projects worth INR 13,600 crore. In natural resources, the group produced a record 47 million tons of coal and iron ore and is targeting over 30 per cent growth by FY26. Infrastructure also featured heavily. Adani Ports handled 450 million metric tons of cargo, and Navi Mumbai International Airport, slated to open later this year, will offer a starting capacity of 20 million passengers—eventually scaling to 90 million. One of the more socially driven parts of the speech addressed the transformation of Dharavi. Calling it "India's most ambitious urban rehabilitation project," Adani said over one million people would be moved into "townships that will feature spacious layouts, dual toilets, open spaces, schools, hospitals, transit hubs, and parks." Adani also shared progress on philanthropic initiatives. A INR 60,000 crore family pledge is funding healthcare, education, and skilling. Two "Adani Healthcare Temples"—1,000-bed campuses in Ahmedabad and Mumbai—are in development, in partnership with Mayo Clinic. Additionally, INR 2,000 crore has been committed to a world-class skill university in Mundra. In closing, Adani reframed the group's legacy not as a collection of assets, but as a measure of conviction: "We are not laying concrete—we are laying convictions, highways that carry ambition, ports that ship hope, and grids that light up futures." Ending his speech with a mix of resolve and national pride, he declared, "History should remember us not for the size of our balance sheets, but for the strength of our backbone."
Fast Company
28-05-2025
- Business
- Fast Company
Endless growth, endless harm: Facebook is a symptom, not an outlier
The recent exposé Careless People, by former Facebook (now Meta) executive Sarah Wynn-Williams, has received significant attention for its jaw-dropping revelations about the social media company and its CEO, Mark Zuckerberg. According to the author, company decisions enabled the Chinese Communist Party to suppress dissent, undermined the mental health of teenage girls, and led to genocide in Myanmar and election interference in the U.S. While there has been much attention to details showing the moral bankruptcy of Zuckerberg and former COO Sheryl Sandberg, there has been less discussion of how financial pressures shaped executives' decisions. Are Meta's leaders just 'bad apples,' or are the many troubling revelations in Careless People representative of pervasive problems across corporate America? While Careless People focuses on Facebook, it also prompts a broader reflection on the tech industry as a whole. Companies like Amazon, X, Google, YouTube, TikTok, and many others similarly operate extractive growth models that prioritize engagement, surveillance, and monetization over social responsibility. What Wynn-Williams has laid bare is a shared playbook of scale over ethics. Facebook's meteoric rise—and the ethical corners cut by its leaders to meet its goals—reveals fatal flaws at the heart of growth-obsessed capitalism. The company had a vast infrastructure overseen by a chief growth officer operating '. . . fast and loose, and always looking for opportunities in the gray area created by the lack of regulation.' When Facebook reached 1 billion users, COO Javier Olivan (who succeeded Sandberg) expressed fear and uncertainty, not pride and accomplishment, because it meant the company had to figure out things 'like how to reach children, how to get into places like China that are hostile to any social media site.' The final deadline for Fast Company's Brands That Matter Awards is Friday, May 30, at 11:59 p.m. PT. Apply today.
Globe and Mail
27-05-2025
- Business
- Globe and Mail
Farouq Tuweiq Assumes CEO Role
WEST ORANGE, N.J., May 27, 2025 (GLOBE NEWSWIRE) -- A New Chapter for Bel Fuse Inc. Today marks an exciting milestone in Bel Fuse's journey. After more than two decades leading the company as President and Chief Executive Officer — and over 45 years of service — Dan Bernstein will be stepping into a new role as Chairman of the Board following today's Annual Meeting of Shareholders. Dan's tenure as CEO began in 2001, and during that time, he led Bel through a period of significant transformation. Under his guidance, Bel grew from under $100 million in revenue to more than $600 million, expanded the global footprint, and completed 19 strategic acquisitions. His impact goes beyond numbers; his vision, drive, and belief in people have built a company that has a passion for progress, openness to new ideas, and a drive to get things done. With this transition Farouq Tuweiq steps into the role of CEO. Over the past four years, within his role as CFO, Farouq has been a strategic partner to Dan in bringing a fresh perspective and data-driven leadership style to Bel. He played a key role in strengthening Bel's financial foundation, refining strategic focus, and positioning the business for long-term success. With much of the groundwork and 'self help' portion of our journey complete, Bel enters its next chapter of growth. Farouq's track record to-date coupled with his background in investment banking, finance and strategic leadership will bode well for Bel in executing on our growth strategy and other future goals. 'I could not be more excited for the future of Bel under the leadership of Farouq and his Executive Team. Farouq has been a proven leader within Bel, inspiring motivation for continuous improvement across the organization and I have full confidence in the abilities of the new Team as they lead Bel into the next chapter,' said Dan Bernstein. About Bel Bel ( designs, manufactures and markets a broad array of products that power, protect and connect electronic circuits. These products are primarily used in the defense, commercial aerospace, networking, telecommunications, computing, general industrial, high-speed data transmission, transportation and eMobility industries. Bel's portfolio of products also finds application in the automotive, medical, broadcasting and consumer electronics markets. Bel's product groups include Power Solutions and Protection (front-end, board-mount, industrial and transportation power products, module products and circuit protection), Connectivity Solutions (expanded beam fiber optic, copper-based, RF and RJ connectors and cable assemblies), and Magnetic Solutions (integrated connector modules, power transformers, power inductors and discrete components). The Company operates facilities around the world.
