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BluSmart CEO and top executives resign amid business revamp
Inshorts
·
4m ago
Medial
BluSmart Mobility's CEO Anirudh Arun, Chief Business Officer Tushar Garg, and Chief Technology Officer Rishabh Sood have resigned. The resignation of Vice President Priya Chakravarthy remains unconfirmed. Nandan Sharma has been appointed as the new CEO. Meanwhile, parent company Gensol Engineering is selling 2,997 EVs to Refex Green Mobility, which will lease them back and assume ₹315 crore loan.
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Amazon reorganises healthcare business: Report
Economic Times
·
1m ago
Medial
Amazon is reorganizing its healthcare business into six new units following the departure of key executives, including Chief Medical Officer Sunita Mishra. The restructuring aims to revamp the healthcare segment without broad layoffs, despite setbacks in leadership. Aaron Martin, another top executive, is also set to leave. This overhaul reflects Amazon's effort to streamline and strengthen its healthcare operations amid a challenging phase, as reported by CNBC and summarized by Reuters.
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India's IT sector should overhaul business, create own language models: HCLTech CEO
Economic Times
·
5m ago
Medial
HCLTech CEO C Vijayakumar urges India's IT sector to revamp operations and develop proprietary language models amid AI-driven changes. The AI boom threatens existing business models tailored for U.S. clients. Vijayakumar emphasizes proactive adjustments to capitalize on new AI opportunities. He advocates for self-developed language models to reduce foreign dependence and address geopolitical risks. Infosys CEO Salil Parekh warns against complacency, promoting adaptability to maintain competitive advantage in the evolving industry landscape.
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Ex-Flipkart employees-founded Udaan's CTO, CBO to step down
Money Control
·
1y ago
Medial
Udaan, a B2B e-commerce platform established by former senior Flipkart executives Amod Malviya, Sujeet Kumar, and Vaibhav Gupta in 2016, has revealed that two senior executives will be departing. The Chief Technology Officer, Gaurav Bhalotia, has chosen to resign, while the Chief Business Officer of the Essentials division, Vivek Gupta, plans to step back from daily operations but will continue serving as an advisor to Udaan's board.
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Binance CEO Changpeng Zhao might step down
Economic Times
·
1y ago
Medial
Binance CEO Changpeng Zhao might step down from his position. According to reports, Zhao is in discussions to resign as the CEO of the cryptocurrency exchange amid increasing regulatory scrutiny. Binance has been facing regulatory challenges in various countries, and Zhao's potential departure could be a response to these issues. No official confirmation has been made regarding his resignation.
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BluSmart to deploy 300 electric cabs on Uber’s platform
YourStory
·
4m ago
Medial
BluSmart, an electric vehicle ride-hailing app, plans to deploy 300 electric cabs on Uber's platform amidst its challenges. This collaboration follows a standard aggregator model, with Uber taking a commission per ride. BluSmart's leadership, including its CEO, plans exits amid financial struggles. Previously, BluSmart partnered with Rapido for a similar model, but Rapido withdrew due to liquidity issues at Gensol, BluSmart's cab lessor. Talks of Uber acquiring BluSmart are currently denied by its co-founder.
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Google paid Neal Mohan $100 million to stop him from joining Twitter
Economic Times
·
2m ago
Medial
Over a decade ago, Google reportedly offered Neal Mohan $100 million in restricted stock units to prevent him from joining Twitter, where he was sought for a chief product officer role. This strategic compensation move aimed to retain Mohan, then pivotal to Google’s advertising and YouTube product strategies, amid fierce industry competition for top executives. Neal Mohan later became YouTube’s CEO in 2023, while Sundar Pichai also stayed at Google, ultimately becoming Alphabet CEO.
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Senior executives exit startups to the safe shores of big local business groups
Economic Times
·
1y ago
Medial
Senior executives are leaving startups to join established local business groups, seeking stability and established growth paths. The trend highlights a shift in talent movement from startups to more established companies, driven by the appeal of established infrastructure and resources. This migration underscores the ongoing evolution of the startup landscape and the allure of established corporate environments amid market uncertainties. Since September 2022, about 750 senior executives (CXOs and CXO-1) out of about 5,000 top professionals (with more than Rs 1 crore salary) exited unicorns and soonicorns.
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What to know about the CEO caught embracing an employee on the jumbtron at a Coldplay concert - The Economic Times
Economic Times
·
18d ago
Medial
A Coldplay concert video showing a couple dodging a camera's spotlight went viral, identifying them as top executives from Astronomer, a tech company. This led to CEO Andy Byron's resignation amid privacy debates and scrutiny over public exposure. The event raised concerns about the erosion of privacy in public spaces and the ease with which individuals can be identified and scrutinized online, highlighting the growing impact of social media as a surveillance tool.
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Tesla’s Dojo supercomputer is DOA — now what?
The Verge
·
11h ago
Medial
Tesla's Dojo supercomputer project has been disbanded after key talent, including project leader Peter Bannon, left to join another AI venture. The departure follows similar exits from other top executives, highlighting Elon Musk's struggle to retain talent. The closure marks a setback for Tesla's in-house AI development strategy for self-driving cars and indicates a shift to reliance on external suppliers like Nvidia and Samsung. This pivot comes amid broader challenges confronting Tesla's business.
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End trip for BluSmart? Behind the EV ride-hailing company’s deepening crisis
Economic Times
·
4m ago
Medial
BluSmart, an electric vehicle ride-hailing firm, is struggling due to Gensol Engineering’s debt repayment crisis. Gensol, which leased about 3,000 EVs to BluSmart, is selling these vehicles to manage its debt. This move impacts BluSmart’s operations and intensifies competition from rivals like Rapido. Additionally, BluSmart faces internal challenges, with three key executives recently resigning and scaling back international expansion plans, including shuttering operations in Dubai amidst difficulties in raising fresh capital.
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