Observing a shift in the consumer base towards mid-segment TVs over the open price point, Marwah said, "We've observed a significant demand for larger screen sizes, with our 55-inch models outselling the more traditional 32-inch options. We have also seen tremendous growth on the e-commerce platform Amazon without the 32-inch category."
Over the past few months, the company has laid off hundreds of staff in divisions including Amazon Web Services, Prime Video service, healthcare business and Alexa voice assistant unit, extending its massive job cuts over the past two years into 2024.
The Enforcement Directorate has taken the step of filing a challenge in the Delhi High Court against a trial court's order. This order had directed the release of three individuals, including the interim CEO of Chinese smartphone manufacturer VIVO, in connection with a money laundering case. The matter has been listed before the vacation judge of the Delhi High Court's bench, and it will be heard on Wednesday by the relevant roster judge.
Chip Bergh, 66, will cede the CEO job to Michelle Gass, 55, who left her CEO role at Kohl's to become president of Levi's in January of this year.
Tata Group's high-growth businesses, including Indian Hotels, Tata Power, Trent and Tata Consumer, offered pay hikes between 16% to 60% to their CEOs and top executives. The board of Tata Sons acknowledged the group's highest growth in its history - to $97 billion in sales revenue in 2022-23. The conglomerate has 30 companies across 10 business clusters and now mostly invests in Tata Digital and Air India.
The departure comes a month after the London-listed company said it had begun discussions with its lender to change, renegotiate, or refinance its debt facility due to higher interest rates, warning that it may need waivers to future covenant tests.
We are in over 240-odd cities today with 47 network participants. Out of which seven are logistics, 12 are buyers and remaining are seller apps. In first week of January, we saw about 50 daily transactions in the food and grocery space. Currently, that has scaled up to 10,000-20,000 daily transactions.
In his new role, Kaul will be responsible for executing a business strategy to drive a high growth trajectory. Further, he will oversee and focus on product innovation, category expansion, business model innovation, and scaling up the organization’s service business.
The group, which runs John Lewis department stores and Waitrose supermarkets, has struggled to make a profit in recent years due to the costs of developing its online offering, tough competition and uncertain economic conditions.
A former L'Oreal executive with extensive experience in the U.S. and Asia, Rinderknech joined LVMH in 2022 and has been heading the group's hotels business, which he will continue to also manage.
Katheriya brings two decades of experience in the consumer goods industry having served in leadership positions at Heinz, Nestle and Emami. Cholayil reports it has doubled turnover in the last four years, and the appointment of new CEO is in the direction of making the company a 1,000 crore plus in the next four-five years.
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