CEO Financial News

The deal sees UK wealth manager Evelyn Partners and professional services firm S&W become two standalone businesses. Former Evelyn Partners chief professional services director Andrew Wilkes is set to assume the S&W CEO role, with former Evelyn Partners group CFO Andrew Baddeley becoming S&W CFO. Evelyn Partners posts near 12% earnings boost as AUM reaches record high Scott Kirk is set to continue as Evelyn Partners interim CFO. Both businesses «remain committed to pursuing a strong ongoing commercial relationship», Evelyn Partners confirmed in a press release shared this mornin...

According to Russell Reynolds Associates' (RRA) annual Global CFO Turnover Index report, the average CFO tenure reduced to 5.8 years down from 6.2 years during 2023.  Friday Briefing: What it takes for a CFO to step-up as CEO The spike in the US matched previous levels set in 2021 during the pandemic and the report attributed the US and UK exodus to a swathe of factors, including notably high rates of CFO retirement or transition to a board position.  According to RRA's research, the average age to transition to a board position reached its lowest point in six years at 56.6 years o...

Aravind Srinivas, CEO of AI-powered search engine Perplexity, recently joined a Reddit discussion to address issues being raised by users. He also used the opportunity to assert that the company does not face any significant financial difficulties. “We have all the funding we've raised, and our revenue is only growing,” Srinivas stated. “We have no plans of IPOing before 2028.” Earlier, a Reddit user had claimed in a post that the company was struggling financially and this had led it to implement cost-cutting measures.

Elon Musk did not miss the opportunity to take aim at billionaire George Soros after being interrupted by a heckler at a Wisconsin rally on Sunday. While speaking at a town hall event in Green Bay, Wisconsin, on Sunday, Musk's speech was disrupted by an audience member. The Tesla CEO responded by linking the disruption to George Soros and said, “It was inevitable that at least a few Soros operatives would be in the audience… give my regards to George! Say Hi to George Soros for me.”

Elon Musk acknowledged that his job as head of President Donald Trump’s effort to cut the size of government is “costing me a lot” when it comes to his other big job, as CEO of Tesla Inc. Political backlash from Musk’s recent political forays in the US and around the world have weighed on Tesla at home and abroad. “It’s costing me a lot to be in this job,” Musk said at a town hall event in Wisconsin, noting some of his political opponents have highlighted the stock’s retreat. “What they’re trying to do is put massive pressure on me, and Tesla I guess, to you know, I don’t know, stop doing this,” Musk said. “My Tesla stock and the stock of everyone who holds Tesla has gone, went roughly in half. I mean it’s a big deal.” Tesla shares rose to a record high in the month after Trump was elected, but have dropped 45% since their Dec. 17 peak. While he remains the world’s richest man, Musk’s own personal wealth has declined by more than $100 billion this year, according to the Bloomberg Billionaires Index. “Long term I think Tesla stock’s going to do fine, so maybe it’s a buying opportunity,” Musk said.

As we step into FY26, consumption may emerge as one of the hottest investment themes due to lowering of interest rates and income tax rate cuts, says Viraj Gandhi, CEO, SAMCO Mutual Fund. In this chat with ET Markets, he also talks about 2 other promising sectors — private sector banks and pharma. Edited excerpts:

LONDON — After 20 years in the role as Klarna's CEO, Sebastian Siemiatkowski is about to face his toughest test yet as the financial technology firm prepares for its blockbuster debut in New York.

The Huizhou 19-6 oilfield lies about 170 kilometres (100 miles) from Shenzhen in south China's Guangdong Province, Beijing's Xinhua news agency said. Test drilling has yielded a daily production of 413 barrels of crude oil and 68,000 cubic meters of natural gas, the CNOOC said. The state-owned oil giant's CEO, Zhou Xinhuai, hailed «successive breakthroughs in oil and gas exploration in the eastern waters of the South China Sea». CNOOC «has discovered 100-million-ton oilfields for two consecutive years, which creates a new growth pole for the continuous growth in offshore oil and gas production,» he added.

bad bank. The Reserve Bank of India (RBI) allowed lenders (on Saturday) across the spectrum and ownership types to reverse excess provisions in their profit and loss (P&L) accounts if a loan is transferred to an asset reconstruction company (ARC) at a value exceeding its net book value. The relaxation, the RBI said, would apply if the deal with an ARC includes cash payments upfront and government-guaranteed security receipts (SR).

Volvo Car AB said Hakan Samuelsson, who served as its chief executive officer from 2012 to 2022, will retake the helm as the Swedish carmaker tries to navigate its way out of a malaise worsened by looming US tariffs. Samuelsson will replace Jim Rowan on April 1, and serve for a two-year term as the board looks for a long-term successor, the company said in a statement on Sunday. «With fast-moving technological shifts, growing geopolitical complexity, and intensifying competition across regions, the board believes the company is best served by leadership with deep industrial experience, deep knowledge of our group, and a proven ability to execute in challenging environments,» Volvo Car said. Volvo Car is among the European carmakers vulnerable to new 25% tariffs set to be imposed by the US next week on all imported passenger vehicles and light trucks, as well as key auto parts.

Binance have come under the glare of the tax authorities. Over the past few weeks, the Income Tax (I-T) department has inquired whether the 1% tax deducted at source (TDS) levied on such deals have been collected. Local investors must either provide proof of TDS deduction or submit documentary evidence on why TDS is not applicable to them, according to notices served by the tax office. Probing into the traders' source of money, the department has sought their I-T returns for the years when the funds used to purchase cryptos were earned. A few scrutiny notices, questioning the transaction data downloaded from the website of the offshore exchange, have imposed 30% tax on the entire turnover instead of claiming tax on the gains.

In a leaked conversation with leading auto industry executives, Trump reportedly cautioned them against raising vehicle prices in response to his new tariffs, implicitly acknowledging the financial strain such measures could impose on manufacturers and consumers alike.

Shadowfax has converted itself to a public entity, according to regulatory filings with the corporate affairs ministry. It is a key step ahead of Shadowfax’s plan to file draft papers for its initial public offering (IPO), which could happen in the next three-four months according to people familiar with the matter. The company has appointed ICICI Securities, JM Financial and Morgan Stanley as the bankers for its public offering. “The company is proposing to undertake an initial public offer… comprising of fresh issuance of equity shares… and an offer for sale by certain existing shareholders of the company, and list the equity shares on one or more of the stock exchanges,” it said in the filing.

Burjis Godrej, son of Nadir Godrej, chairman of Godrej Industries Group (GIG), has taken charge as the managing director of Astec LifeSciences, marking his first major leadership and accountability role within the organization. Burjis assumes his new role this month at the listed entity without any remuneration, taking over from Anurag Roy, who resigned as CEO of Astec in October 2024. At 34, Burjis is the elder son of Nadir Godrej, while his younger brother, Hormazd, has also recently joined Godrej Agrovet. Nadir Godrej is the younger brother of GIG chairman emeritus, Adi Godrej. «Getting the opportunity to make an impact in a sector that is a key focus area of the group and is important for growing India’s R&D and manufacturing footprint was more important to me personally than the remuneration. I look forward to working closely with the Astec team to drive growth in this business,» Burjis Godrej told ET. He also served as a non-executive director at Astec LifeSciences Since 2022, Burjis Godrej has held the position of Executive Director at GAVL. He was previously a Non-Executive Director at Astec LifeSciences and Godrej Maxximilk. Burjis has specialized in agrochemical projects for Astec LifeSciences and the crop protection division of Godrej Agrovet. His responsibilities included evaluation of products, synergies, technologies, business models, geographical markets, and capital expenditure

PropEquity. There were 1,22,365 housing units launched in the year-ago period. Real estate data analytics firm PropEquity data showed that new supply rose only in Bengaluru and fell in other cities. As per the data, new housing supply in Bengaluru increased 17 per cent to 20,227 units in January-March from 17,303 units in the year-ago period.

Subscribe to enjoy similar stories. It’s March 29, which the organizers of Tesla Takedown called a global day of action to protest and “stop" CEO Elon Musk peacefully. As it relates to Musk, what protestors want to stop are, or likely are, DOGE cuts.

This has put millions of American users and potential purchasers on tenterhooks as they wait for further news.

Subscribe to enjoy similar stories. On a balmy mid-November evening in 2023, billionaire venture capitalist Peter Thiel threw a birthday party for his husband at YESS, an avant-garde Japanese restaurant located in a century-old converted bank building in Los Angeles’s Arts District. Seated next to him was his friend Sam Altman.

BIMSTEC Secretary General Indra Mani Pandey unveiled key outcomes, including the Bangkok Vision 2030 and underlined that the grouping is set to grow stronger by partnering with other external partners such as Indian Ocean Rim Association and ASEAN. In an online conference organised by Centre for Global India Insights (CGII), a think tank focused on global affairs, Pandey underscored the growing political will and commitment of member states to strengthening BIMSTEC, enhancing its effectiveness, and ensuring time-bound implementation of decisions. The conference, titled “Bolstering BIMSTEC: Mapping the Next Steps,” was held ahead of Prime Minister Narendra Modi’s visit to Bangkok to attend BIMSTEC summit and featured eminent diplomats and experts from India, Thailand Sri Lanka, and Bangladesh. Diplomats from other BIMSTEC countries also attended the conference. Besides BIMSTEC Secretary General Pandey, Sumith Nakandala, First Secretary General, BIMSTEC Secretariat; Amb. (Retd.) Riva Ganguly Das, India’s Former High Commissioner to Bangladesh; Prof Mustafizur Rahman, Distinguished Fellow, Centre for Policy Dialogue (CPD), Dhaka; Dr. Piyanat Soikham, Director, India Studies Centre, Ubon Ratchathani University, Thailand; Prabir De, Professor, RIS; and Yash Pal Sachar, Vice-President, Ashok Leyland participated in the panel discussion. The conference was moderated by Manish Chand, CEO, Centre for Global India Insights. “Our leaders will adopt a joint declaration. They will also adopt a BIMSTEC Bangkok Vision 2030. This is for the first time that BIMSTEC will adopt its own vision document,” said Pandey.

Tamilnad Mercantile Bank inaugurated six new branches under its expansion plan across the country, including a new branch in Ayodhya, Uttar Pradesh, a top official said. The Tuticorin-based bank inaugurated a branch in Rathinapuri, Coimbatore; two branches in P N Road and Peruntholuvu in the Tiruppur district; Ettayapuram in Tuticorin; Karimnagar in Telangana; and Ayodhya in Uttar Pradesh. «Our bank has opened six new branches. We also have plans to open many more branches in the near future across India. It gives us immense pleasure to share this momentous expansion with all our stakeholders,» the bank's Managing Director and CEO, Salee S Nair, said in a statement on Saturday. The bank reported a 6 per cent rise in its October-December 2024 net profit at Rs 300.24 crore, up from Rs 284.23 crore registered in the corresponding quarter of the previous financial year.