Top-level rejig in Hyundai Motor India; Y K Koo to be new MD
Chennai: Hyundai Motor India on Monday announced top level reshuffle in the management with Y K Koo set to become its Managing Director and BS Jeong taking over as Executive Director, Sales and Marketing. Koo will assume his new responsibility from November 8, replacing B S Seo, Hyundai Motor India ltd said in a statement. Seo would head back to the company’s headquarters in Seoul after serving the organisation for more than five years in India. Koo, who had earlier served in India under various capacities, is set to return to take up the new role, it said. Jeong will take over as Executive Director Sales and Marketing, replacing Y J Ahn. Ahn would lead the company’s Corporate Affairs team.
Munjal was one of the greatest institution builders: Jaitley
New Delhi: Finance Minister Arun Jaitley on Monday condoled the demise of Hero MotoCorp patriarch Brijmohan lall Munjal, describing him as one of the greatest institution builders. “My condolences on the death of Brijmohan lall Munjal. He was one of the greatest institution builders. May God bless the departed soul,” he tweeted. Munjal passed away yesterday after a brief illness. He was 92.Commerce and Industry Minister Nirmala Sithramam, in her condolence message, said Munjal stood for quality and standards.
Visa to buy Visa Europe in deal that could exceed $23B
New York: Payment processing giant Visa announced plans Monday to buy its sister company, Visa Europe, in a deal that could be worth more than $23 billion and would consolidate all of Visa’s operations worldwide. The deal was long expected and, if approved by regulators, would make the world’s largest payment processing company even larger. The two companies have more than 2.9 billion cards issued on its combined network, processing roughly 88 billion individual transactions a year. “We are very excited about unifying Visa into a single global company with unmatched scale, technology and services,” said Charles Scharf, Visa’s chief executive officer, in a prepared statement.