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India Inc’s C-suite movements shot up in Covid-hit first quarter of FY 2021: Study

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KOLKATA: India Inc’s C-suite movements shot up in the Covid-hit first quarter of FY 2021, when organisations leaned towards internal elevations in these times of adversity. In all 246 CEO moves – 82% more than the corresponding period last year — took place in April-June 2021, a study shared exclusively with ET by executive search firm Sapphire Human Solutions, revealed.

Overall, there were 960 CXO movements across sectors in Q1 FY21, a 27% jump over the 754 in April-June 2019, said the study which captures data from 200-plus sources. In all about 19% of the overall CXO movements were women.

CXOs in legal services outnumbered peers from other sectors in the list of those who changed jobs in the first quarter of the financial year. This was followed by those in BFSI (16%) and media and entertainment (13.7%), respectively.

The April-June quarter, arguably one of the most turbulent in corporate history, signalled a strong shift towards internal elevations in CEO roles: 51.2% compared to 37.7% last year. External hires made up 34.5% of the CEO movements, compared to 48.8% last year. The percentage of CEOs who retired/resigned remained stable at 13-14%.

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The economy and CXO movements were in cruise mode before they hit the Covid speedbreaker. However, Q1 movements largely are manifestation of decisions finalised in Q4 of FY 20 and therefore CXO movement numbers on a y-o-y basis are much higher, said Ankit Bansal, CEO of Sapphire Human Solutions.
“There has been a definitive shift in more CEOs getting promoted from within. This is because companies are realising that culture alignment as well as people’s acceptance of an internal candidate is much faster and better compared to an external hire. Also, this is reflective of effective succession planning and leadership development programmes implemented by many companies in the last few years,” added Bansal.

“Given all the adversities different sectors and industries are facing, internal hiring makes sense because the certainty level is far higher,” said Marico managing director Saugata Gupta. “Considering the overall uncertainty, remote working, people management issues etc., an internal candidate would know the organisation much better, and vice versa.”

Among the recent external CEO hires across sectors in the April-June 2020 quarter are Thierry Delaporte, the first foreign CEO of Wipro; Vinod Nambiar, who joined More Retail as managing director; Parag Raja appointed CEO of Bharti Axa Life Insurance and Vineet Arora, CEO of Paytm General Insurance.

Internal elevations during the same period include, among others, Amit Syngle of Asian Paints, elevated to MD & CEO after the retirement of KBS Anand; Lalit Sharma elevated to country head of Polaris India and Sanjeev Mahajan as managing director of Goodyear. Dattatri Salagame, a Boschler for 24 years, was appointed the president and MD of RBEI, the largest software and tech centre of Bosch outside Germany.

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Education

NEET MDS 2021 notification released, apply at nbe.edu.in

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NEW DELHI: National Board of Examinations (NBE) has released the notification for NEET MDS 2021 on its official website.

Candidates, interested in applying for NEET MDS 2021 can apply online through the official website – https://nbe.edu.in/ – from today i.e., October 26, 2020. Last date to apply online is November 15, 2020.

Admit Cards for NEET-MDS 2021 Examination will be released for download at NBE website www.nbe.edu.in on December 9, 2020. Candidates declared ineligible shall not be issued admit cards.

A candidate can submit NEET-MDS 2021 application form only once. Any candidate found to have submitted more than one application form for NEET-MDS 2021 may be debarred from NEET-MDS, his/her candidature may be cancelled.

Application for NEET-MDS 2021 can only be submitted online through NBE website www.nbe.edu.in. There is no other methodology for application submission. Application submitted through any other mode shall be summarily rejected.

NEET MDS 2021: Important Dates

S. No. Event Date
1 Availability of the Information Bulletin October 26, 2020 Onwards
2 Online Submission of Application October 26 (5 PM Onwards)
3 Last date to apply online November 15, 2020
(Till 11:55PM)
4 Edit Window for All the Candidates November 17 to
November 19, 2020
6 Final Edit Window to rectify
Deficient/Incorrect Images
1. Photograph November 29 to
2. Signatures November 30, 2020
3. Thumb Impression
7 Issue of Admit Card December 9, 2020
8 Examination Date December 16, 2020
9 Declaration of Result By December 31, 2020

NEET MDS 2021: Examination Fee

Category of Candidate Examination Fee GST @ 18% Total Amount Payable
General and OBC Rs. 3750/- Rs. 675/- Rs. 4425/-
SC, ST, PWD Rs. 2750/- Rs. 495/- Rs. 3245/-

NEET-MDS is an eligibility-cum-ranking examination prescribed as the single entrance examination for admission to various MDS Courses. The examination shall be a multiple choice questions test delivered using computers network (CBT) as per scheme prescribed.

The exam comprises of 240 Multiple Choices, single correct response questions in English language only. Time allotted is 3 hrs.

There shall be 25% negative marking for incorrect answers. No marks will be deducted for unattempted questions.

NEET-MDS 2021 will be conducted in a single day & single session as a computer based examination on 16th December 2020.

Result of NEET-MDS 2021 shall be displayed on NBE website www.natboard.edu.in and www.nbe.edu.in

Allocation of time for NEET-MDS 2021 shall be as follows

Activities Time
Allow Candidates to enter the examination
centre and Commence Registration for the test
12:00 PM
Entry closes at Examination Center 1:30 PM
Grant access for Candidate Login 1:45 PM
Candidates log in to read instructions 1:50 PM
Exam Start Time 2:00 PM
Exam End Time 5:00 PM


Click Here to Read Information Bulletin



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IIT-Madras convocation held, technology gives event a touch of reality

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CHENNAI: For the first time in its history, the Indian Institute of Technology-Madras conducted its convocation online on Sunday and over 2,300 degrees were awarded.

The highlight of the 57th convocation was the use of ‘mixed reality’ technology which provided the event a touch of reality.

Prof David J Gross, Nobel laureate and Chancellor’s Chair of Theoretical Physics, University of California, who was the chief guest, said that for graduating students it was the beginning of application of knowledge that they acquired during their study.

Pawan Goenka, Chairman, Board of Governors, IIT Madras and Managing Director, Mahindra and Mahindra, presided.

“COVID-19 has accelerated the rate of tech adoption across streams of life. Changes which would have taken 5-6 years have happened in just about 3-4 months,” Goenka said.

Director of IIT Madras, Bhaskar Ramamurthi, who awarded degrees to the graduating students said classes were completed on time due to the “heroic efforts” of the faculty and students.

As many as 191 patents were filed during the year, of which 62 were international, and the institute was granted 58, he said.

A total of 2,346 degrees were awarded to 1,909 students in absentia.

Mixed reality creates visualisations by combining real and virtual worlds.

For instance, a student, Rajat Vadiraj Dwaraknath, who bagged three prizes including the President of India gold medal appeared to have personally received the medal though it was only a projection that seemed real.



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Education

Maharashtra SET exam rescheduled to December 27

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PUNE: The SET examination conducted by Savitribai Phule Pune University for the states of Maharashtra and Goa was scheduled on 28th June, 2020. Due to Covid-19 pandemic, the said SET examination was postponed.

The said postponed examination is now rescheduled on 27th December, 2020.

The information of the examination will be published from time to time on the website http://setexam.unipune.ac.in

It was earlier scheduled on June 28 but due to Covid-19 pandemic, the examination had to be postponed. The students need to check the official website http://setexam.unipune.ac.in to keep a tab on timely notifications about the examination.



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