UwidoNews

Hemant Kaul, the executive director who spearheaded Axis Bank’s retail initiatives for the past five years, has put in his papers. He will take over as the CEO of Bajaj Allianz General Insurance.

Shikha Sharma, the MD of ICICI Prudential Life Insurance, the largest private sector life insurance company, has been appointed as the new
managing director and CEO of Axis Bank, the third largest private sector bank. Incidentally P J Nayak, Chairman & CEO of the bank has put in his papers after dissenting on the decision. He was keen on Hemant Kaul, one of the executive directors of the bank, succeeding him.

Bajaj Allianz Life Insurance and Bajaj Allianz General Insurance both posted profits for FY09, despite deteriorating market conditions.Bajaj Allianz Life Insurance posted profit of Rs45 crore in FY09 against a loss of Rs16 crore in the year-ago period, a release here on Wednesday stated.

At Bajaj Allianz, we realise that you seek an insurer whom you can trust. Bajaj Finserv Limited ,is a part of Bajaj group ,which is a trusted name for over 55 years in the Indian market and Allianz SE has over 110 years of global experience in financial services. Together we are committed to provide you with time tested and trusted financial solutions that provide you all the security you need for your investments.

ICICI Bank joint managing director Chanda Kochar was Friday named the bank's next chief executive. She will assume charge May 1 from K.V. Kamath, who will take over as the non-executive chairman from N. Vaghul. Kochar, a veteran with ICICI Bank - India's largest private sector bank - has been serving on the board of directors since 2001.

Bajaj Auto is gearing up to roll out a new Bajaj Pulsar in India on 9th December. According to insiders, the company is to launch this new bike, Bajaj Pulsar 135, after the gala success of Bajaj Discover100. This new Bajaj Pulsar will be the youngest member of Pulsar range.

ICICI Bank's Joint Managing Director and group Chief Financial Officer Chanda Kochhar is likely to take over from its CEO and managing director K V Kamath after he demits office on April 30, 2009, reported PTI citing sources. The bank's board is meeting tomorrow to decide on the successor.

Former ICICI Bank veteran Shikha Sharma will take home a hefty pay packet as Axis Bank Managing Director and CEO that will be in excess of Rs 2 crore a year, if one counts allowances and other perquisites.

Borders Group Inc., the unprofitable U.S. bookstore chain, said Ron Marshall resigned as chief executive officer and director after about a year on the job.