Trip for Two
Deep Kalra's MakeMyTrip recently announced its acquisition of rival Ibibo in an equity deal worth an estimated $1.8 billion to create Indias largest online travel company. Ibibo's CEO, Ashish Kashyap, said this merger would help both companies continue a great journey together as the leading travel group in India. Kalra will continue to be the Executive Chairman and Group Chief Executive of MakeMyTrip, while Kashyap will join the company as Co-founder and President.
Change of Guard
Siddharth Roy Kapur Former MD & CEO, Walt Disney Company India
Mahesh Samat New MD, Walt Disney Company India
Siddharth Roy Kapur has stepped down from his position as MD and CEO of Walt Disney Company India. Mahesh Samat, the erstwhile head of the company, will return to taken on Kapur's mantle, the company announced recently. Samat, who will take charge from November 28, had quit four years ago and launched Epic Television Networks. He will report to Andy Bird, Chairman, Walt Disney International, and will be based in Mumbai. Roy is moving out to pursue business interests, the company informed.
Special Honour
Kiran Mazumdar-Shaw CMD, Biocon Limited
Kiran Mazumdar-Shaw, Chairman and Managing Director, Biocon Limited, was recently conferred the Chevalier de la Legion d'Honneur (Knight of the Legion of Honour), the highest French civil distinction, for her outstanding contribution to biosciences, innovative research in the field, and for her commitment to provide affordable healthcare globally. "To be recognised by one's own country is a matter of honour, but to receive recognition by another country is indeed a very special honour," she said, while accepting the award. She was awarded by the French Ambassador Alexandre Ziegler on behalf of the country's President.
Time is of the Essence
Randall Stephenson CEO, AT&T
AT&T's Chief Executive Officer, Randall Stephenson, announced that the company has agreed to buy Time Warner Inc. for $85.4 billion. According to a statement by the company, A&T will pay $107.50 per Time Warner share, half in cash and half in stock, worth $85.4 billion overall. Being tagged as the biggest deal of the year, it is expected to be closed by 2017, and will create a telecom-media giant. "Owning Time Warner and all its content will provide a greater competitive advantage than just continuing to license it," Stephenson told reporters on a conference call.
Generous Gifter
Savji Dholakia, Founder and Chairman, Hare Krishna Group [Photo: Raj Verma]
Diamond merchant Savji Dholakia made it to the headlines yet again for his generous Diwali gifts to employees. Dholakia has gifted 400 flats and 1,260 cars to the best-performing employees of his company Hare Krishna Exporters. The flats would be allotted under the company-owned housing scheme. The company would make the down payment for the houses and pay the EMIs for five years. Last year, he had gifted 491 cars and 200 flats to its employees. compiled by devika singh