Newsmakers: Featuring Amitabh Bachchan, N.R. Narayana Murthy, Ginni Rometty, Kim Ki-Wan, C. Sivasankaran
Where did the princely sum of Rs 6.31 crore paid by Prasar Bharati to the ad agency Lintas to promote the state-run DD Kisan vanish? Amitabh Bachchan dropped a bombshell when he declared that, contrary to reports that he got the amount as his most expensive endorsement ever, he has not charged a single paisa. "My 'deliverables' on this campaign have been executed by me many days ago. I work pro bono on various issues and DD Kisan Channel is one of them," he said in a statement. At the time of going to press, Lintas, the ad agency representing the channel, said it had initiated the process of refund to DD Kisan as soon as it learnt about the actor's decision to work for free on issues that are in the best interest of the nation.
N.R. Narayana Murthy, 68, co-founder and Non-executive Chairman of Bangalore-based software giant Infosys, is not known to sugarcoat his views. In a sharp convocation address at the Indian Institute of Science, Bangalore, he said that there was "no earth-shaking invention from India in 60 years". The elder statesman of the IT industry may have got trolled on the Twitterati but his statement has sparked a debate on what ails Indian innovation.
Big Blue, as IBM is known globally, maybe feeling blue following the news of its revenues falling for the 13th consecutive quarter. However, its global CEO Ginni Rometty, who was in India recently, displayed no nervousness and maintained her sangfroid as she praised the country and the market opportunity here. Pointing out that India will likely overtake China in growth rates and appreciating the action on the start-up front, Rometty said the 21st century would belong to India. She is known to be a champion of India within IBM for many years now and has also visited the country regularly for 15 years.
South Korean electronics giant LG has appointed Kim Ki-Wan as the new Managing Director for its India operations, replacing Soon Kwon. In his new role, Ki-Wan, who has been with the Seoul-based company for 33 years now, will work towards LG India's growth strategy with focus on innovation, quality and service excellence. While LG registered a turnover of Rs 18,500 crore in 2014, this mid-year management change raises questions about the company's slow growth during Kwon's leadership. Kwon, who would have completed five years in his post in November, will now take over as Global Head for Information Display Business. Ki-Wan was earlier the Executive Vice President of Home Entertainment and Marketing Group.
Here is some good news for the beleaguered NRI businessman C. Sivasankaran. The recent order of the telecom tribunal - TDSAT - has granted a refund of some Rs 338 crore to his telecom venture S Tel. The case dates back to 2010 when the company paid Rs 337.7 crore for 3G spectrum fee in three circles. In 2012, when the apex court cancelled the 122 telecom licences, S Tel also lost its licence but it continued to hold the spectrum. Then, last year, the government withdrew its spectrum following which S Tel decided to move the telecom tribunal. The past two years have not been particularly pleasant for Sivasankaran. Last year, in fact, he was even declared bankrupt by the Supreme Court of Seychelles.
Compiled by Venkatesha Babu, Nidhi Singal and Manu Kaushik
