Category: Leaders

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CRED founder Kunal Shah takes charge of WhatsApp

Indian entrepreneur Kunal Shah has been named the new global head of WhatsApp, marking a major milestone not only in his career but also for India’s growing influence in the global technology industry. The appointment comes alongside Meta’s announcement of a significant investment in Shah’s fintech venture, CRED, underscoring the company’s confidence in his leadership and vision.

Shah, founder of CRED and co-founder of FreeCharge, will succeed longtime WhatsApp chief Will Cathcart, who has led the messaging platform since 2019. Cathcart is expected to move into a new role within Meta focused on developing next-generation products.

The move makes Shah one of the few Indian-origin executives to lead a major global consumer technology platform. It also reflects Meta’s increasing emphasis on integrating messaging, payments and commerce—areas where Shah has built considerable expertise over the past decade.

Born in Ahmedabad and raised in Mumbai, Shah began his entrepreneurial journey with FreeCharge in 2010. The digital payments platform quickly became one of India’s most recognised startups before being acquired by Snapdeal. After exiting the company, Shah launched CRED in 2018, initially focusing on rewarding users for timely credit card payments before expanding into lending, commerce, insurance and wealth products.

Alongside Shah’s appointment, Meta announced a $900 million investment in CRED, valuing the fintech company at around $4.5 billion. The investment gives Meta a minority stake in the Bengaluru-based startup and further strengthens ties between the social media giant and India’s digital payments ecosystem.

Industry observers see the appointment as a strategic move. India remains WhatsApp’s largest market, with hundreds of millions of users, and the platform has increasingly expanded beyond messaging into payments, business services and digital commerce. Shah’s deep understanding of consumer finance and technology is expected to play a key role in shaping WhatsApp’s next phase of growth.

For many in India’s startup ecosystem, Shah’s elevation represents another example of Indian entrepreneurs taking on influential leadership roles on the global stage.

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Apple bets on design revival under John Ternus

Apple is preparing for a significant leadership transition, and industry observers believe the company’s next chapter could be shaped by a renewed emphasis on product design. As John Ternus gets ready to succeed Tim Cook as chief executive officer on September 1, reports suggest one of his top priorities will be revitalising Apple’s once-celebrated design culture.

According to technology analyst Mark Gurman, Ternus is expected to place greater focus on product engineering, industrial design and innovation, areas that many believe have received less attention in recent years as Apple concentrated on operational efficiency and financial performance.

For decades, Apple’s design team was considered the creative force behind iconic products such as the iMac, iPod, iPhone and iPad. However, the department’s influence reportedly declined following the departure of legendary designer Jony Ive and several other senior design leaders. Over time, the team lost some of its prominence within Apple’s leadership structure.

Ternus, who currently serves as Apple’s senior vice-president of hardware engineering, is already familiar with the challenges facing the design organisation. Reports indicate that he assumed direct oversight of the design group last year, signalling his intention to play a more active role in shaping Apple’s future products.

The incoming CEO to strengthen the design department’s position within the company and potentially appoint new leadership to help restore its influence. The goal, according to reports, is to ensure that design once again becomes a central pillar of Apple’s product strategy rather than a supporting function.

The anticipated shift comes at a crucial time for Apple as competition intensifies across smartphones, artificial intelligence, wearables and next-generation computing devices. Industry experts believe distinctive design and user experience could play a key role in helping the company stand out in an increasingly crowded technology market.

While no immediate product changes have been announced, expectations are growing that the Ternus era could bring a stronger emphasis on bold ideas, fresh aesthetics and breakthrough innovation.

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Hindustan Zinc taps Amarendu Prakash as CEO

Hindustan Zinc has appointed former Steel Authority of India Limited (SAIL) Chairman Amarendu Prakash as its Chief Executive Officer-Designate, marking a significant leadership change for India’s largest integrated zinc producer.

The appointment took effect on June 19 and was approved by the company’s board following recommendations from its Nomination and Remuneration Committee. The move brings a seasoned industry veteran to the helm as Hindustan Zinc prepares for its next phase of growth and expansion.

Prakash brings more than three decades of experience in the metals and mining sector. Most recently, he served as Chairman and Managing Director of SAIL, where he led major initiatives focused on capacity expansion, operational excellence, digital transformation and sustainability. During his tenure, SAIL pursued large-scale modernisation projects aimed at improving competitiveness and efficiency across its operations.

A metallurgical engineer from BIT Sindri, Prakash joined SAIL in 1991 and rose through the ranks over a career spanning more than 30 years. He held several key leadership roles, including overseeing the Burnpur and Bokaro steel plants before taking charge as the company’s chairman in 2023. His leadership was widely associated with strengthening operational performance and advancing strategic growth plans.

Prakash’s experience in managing large industrial operations is expected to support Hindustan Zinc’s long-term ambitions, particularly as the company explores new growth opportunities driven by rising demand for critical minerals and metals used in infrastructure, manufacturing and clean-energy applications.

For Hindustan Zinc, the leadership transition comes at a time when the global mining industry is undergoing rapid change. With Prakash set to take charge, investors and industry stakeholders will be watching closely to see how his experience and strategic vision shape the company’s future direction and growth trajectory.

Industry observers see the appointment as a strategic move by Hindustan Zinc as it seeks to strengthen its leadership team amid evolving market dynamics. The company has been focusing on increasing production, improving sustainability practices and expanding its presence across the metals value chain.

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Google Gemini leader Noam Shazeer joins OpenAI team

In a significant development in the artificial intelligence industry, Noam Shazeer, one of the key architects behind Google’s Gemini AI models, has announced that he is leaving Google to join OpenAI, the company behind ChatGPT. The move is being viewed as one of the most prominent talent shifts in the ongoing AI race.

Shazeer served as Vice President of Engineering at Google and co-led the Gemini project, which forms the backbone of Google’s generative AI strategy. He confirmed the decision in a social media post, describing it as a “difficult decision” and expressing pride in the work accomplished with Google’s AI teams.

A respected figure in the AI community, Shazeer is best known as one of the co-authors of the groundbreaking 2017 research paper “Attention Is All You Need.” The paper introduced the Transformer architecture, which became the foundation for modern AI models, including ChatGPT, Gemini and many other large language models.

His career has included more than two decades at Google, a stint as co-founder of Character.AI and a return to Google in 2024 after the company struck a multi-billion-dollar licensing deal with the startup. Less than two years later, he is once again moving on, this time to OpenAI.

OpenAI CEO Sam Altman welcomed the move, saying he had wanted to work with Shazeer for nearly a decade. Industry observers believe the appointment could strengthen OpenAI’s research and product development efforts as competition intensifies among leading AI companies.

The departure is also a setback for Google, which has invested heavily in Gemini to compete with OpenAI. Analysts say the move highlights the intense battle for top AI talent, with companies offering massive compensation packages and leadership roles to attract leading researchers.

As the AI industry continues to evolve rapidly, Shazeer’s transition is expected to have implications far beyond the two companies, reinforcing how crucial elite researchers have become in shaping the future of artificial intelligence.

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BigBasket names Amit Nanda CEO as Menon exits

BigBasket, one of India’s largest online grocery and quick-commerce platforms, has announced a major leadership transition, with co-founder Hari Menon stepping down as Chief Executive Officer after nearly 15 years at the helm. The company has appointed Amit Nanda, a senior Amazon India executive, as its new CEO.

The appointment marks the first time an external executive will lead BigBasket since its founding in 2011. Nanda joins from Amazon India, where he served as Director of Selling Partner Services and played a key role in building and scaling the company’s marketplace operations. He brings more than two decades of experience across e-commerce, consumer goods and banking.

While stepping away from day-to-day management, Menon will continue to remain closely associated with the company. He, along with co-founder Vipul Parekh, will stay on the board and mentor the leadership team during the transition.

The leadership change comes at a crucial time for Tata-owned BigBasket as competition intensifies in India’s fast-growing quick-commerce market. Rivals such as Blinkit, Swiggy Instamart and Zepto have rapidly expanded their presence, forcing established players to accelerate innovation and delivery capabilities. Analysts believe the appointment reflects BigBasket’s focus on strengthening its position in the increasingly crowded sector.

In recent years, BigBasket has expanded beyond traditional online grocery deliveries through initiatives such as BB Now, its quick-delivery service. The company currently serves millions of customers across more than 60 cities through a network of hundreds of dark stores and fulfilment centres.

Welcoming Nanda, Menon said his deep understanding of consumers and experience in building large-scale businesses make him well-suited to lead the company’s next phase of growth. Nanda, in turn, said he was excited to build on BigBasket’s strong customer trust and leverage the Tata Group’s ecosystem to unlock future opportunities.

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New Fed chief Kevin Warsh signals policy shift

All eyes are on the US Federal Reserve as its new Chair, Kevin Warsh, prepares to chart the central bank’s course at a time of persistent inflation concerns and uncertainty over future interest rate moves.

Warsh’s first policy meeting and press conference as Fed chief are being closely watched by investors, economists and policymakers looking for clues on how he plans to steer the world’s most influential central bank. Markets are particularly interested in whether he will signal a shift in interest-rate policy after years of aggressive efforts to curb inflation.

The former Federal Reserve governor has indicated support for a broad review of the institution’s policy framework and operations. Analysts say his leadership could bring changes in how the Fed communicates its decisions, manages inflation risks and balances economic growth with price stability.

Inflation in the United States has eased from its post-pandemic highs but remains a key concern for policymakers. While some economists believe the Fed may have room to lower interest rates in the coming months, others caution that inflationary pressures could persist, requiring a more cautious approach.

Warsh has argued that restoring confidence in the Fed’s inflation-fighting credibility should remain a priority. He has also spoken about the need for greater accountability and transparency within the central bank, positions that have attracted attention from both supporters and critics.

For ordinary Americans, the Fed’s decisions have a direct impact on everyday life. Interest-rate changes influence borrowing costs for mortgages, car loans and credit cards, while also affecting savings returns, business investment and employment prospects.

Investors are expected to scrutinise Warsh’s remarks for indications on the timing of future rate cuts and his broader economic outlook. Financial markets have remained sensitive to any signals that could influence expectations for growth, inflation and monetary policy.

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Pranav Adani announces scholarships, bicycles for IIM Calcutta

Indian Institute of Management Calcutta (IIM Calcutta) has announced a series of initiatives aimed at supporting students, encouraging entrepreneurship and improving campus facilities.

During a recent event at the institute, Pranav Adani announced scholarships for deserving students and the donation of 200 bicycles to improve mobility across the sprawling campus. The bicycles are intended to help students, faculty members and staff move more easily within the institute’s large premises while promoting environmentally friendly transportation.

Institute officials said the scholarship programme will provide financial assistance to students and help make quality management education more accessible. The support is expected to benefit students from diverse backgrounds and reduce financial barriers to higher education.

In another major development, IIM Calcutta has introduced a new policy designed to encourage entrepreneurship among its students. Under the initiative, MBA students who receive campus placement offers will be allowed to retain those offers while taking time to pursue their own start-up ventures.

The policy gives students an opportunity to explore entrepreneurial ideas without immediately giving up the security of a job offer. If their ventures do not progress as planned within the permitted period, eligible students may still be able to join the companies that recruited them through campus placements.

Institute leaders believe the move will foster innovation and encourage more graduates to consider entrepreneurship as a career path. The policy is also expected to strengthen ties between industry and academia by supporting students who want to create new businesses and generate employment opportunities.

Education experts say such measures reflect a growing trend among leading business schools to support entrepreneurship alongside traditional corporate careers. By combining financial aid, improved campus infrastructure and start-up incentives, IIM Calcutta aims to create a more supportive environment for students.

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Elon Musk becomes world’s first trillionaire

Elon Musk has become the world’s first trillionaire after a sharp rise in the valuation of SpaceX boosted his personal fortune beyond the $1 trillion milestone.

According to reports, Musk’s net worth crossed the trillion-dollar threshold following a secondary share sale that valued SpaceX at around $600 billion. The jump significantly increased the value of Musk’s stake in the private space company, which now accounts for a large portion of his wealth.

Musk, who is also the chief executive of Tesla and founder of several other ventures, has seen his fortune grow rapidly in recent years due to strong investor confidence in his companies. While Tesla remains a major contributor to his wealth, SpaceX’s soaring valuation has emerged as the key factor behind his latest milestone.

Founded in 2002, SpaceX has become one of the world’s leading space and satellite companies. Its achievements include reusable rocket technology, commercial satellite launches and the expansion of the Starlink satellite internet network. Investors have increasingly viewed the company as a dominant player in the future space economy, helping drive its valuation higher.

The milestone places Musk far ahead of other billionaires and marks the first time an individual’s estimated net worth has exceeded $1 trillion. Financial analysts note that such wealth estimates are largely tied to the market value of company holdings and can fluctuate significantly with changes in valuations and share prices.

Musk’s rise reflects the growing influence of technology and private space enterprises in global markets. Supporters point to SpaceX’s technological breakthroughs and commercial success as reasons for investor optimism, while critics highlight concerns over the concentration of wealth and corporate power.

Despite debates surrounding his business ventures and public profile, Musk’s trillionaire status represents a historic moment in global wealth creation. It underscores the increasing role of high-growth technology companies in shaping modern economies and generating unprecedented personal fortunes.

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Xbox CEO Asha Sharma plans major layoffs

Xbox is preparing for a significant restructuring that could include substantial job cuts as newly appointed CEO Asha Sharma moves to reshape the gaming business for its next phase of growth.

According to reports, Sharma is expected to lead a broad overhaul of Xbox’s operations, focusing on improving efficiency, simplifying management structures and aligning resources with the company’s long-term strategy. The planned changes come as the gaming industry faces increasing pressure to control costs while investing in emerging technologies and new gaming experiences.

Sources familiar with the matter said the restructuring could result in significant layoffs across various teams within the Xbox division. While the exact number of affected employees has not been disclosed, the move is expected to be one of the most notable organizational changes within the company in recent years.

Sharma, who recently took charge of Xbox, is said to be reviewing multiple aspects of the business, including product development, operations and organizational structure. The goal is to create a more agile and focused gaming division capable of responding quickly to changes in the highly competitive gaming market.

The restructuring follows a period of rapid expansion across Microsoft’s gaming business, including major acquisitions and investments aimed at strengthening Xbox’s position globally. Industry observers note that many technology companies have been reassessing costs and workforce requirements amid changing economic conditions and evolving consumer demand.

Despite the expected layoffs, the broader strategy is believed to focus on strengthening Xbox’s long-term competitiveness. The company continues to invest in areas such as cloud gaming, digital content, artificial intelligence and subscription-based gaming services, which are seen as key drivers of future growth.

Neither Xbox nor Microsoft has publicly provided detailed information about the scale of the planned workforce reductions. However, reports suggest employees could receive more clarity as the restructuring process moves forward in the coming weeks.

The anticipated changes mark an important moment for Xbox as Sharma begins her tenure as CEO.

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Billboard India appoints Preeti Nayyar as COO

Billboard India has appointed Preeti Nayyar as its Chief Operating Officer (COO), bringing on board a seasoned media executive as the brand gears up for its next phase of growth in the country.

Nayyar joins Billboard India with more than two decades of experience across the media, entertainment and music industries. Over the years, she has worked with some of the country’s leading media and entertainment companies, building expertise in business strategy, brand partnerships, content and audience engagement.

Most recently, she was associated with Universal Music Group, where she led brand partnerships across India and parts of Asia. In that role, she worked closely with artists, brands and businesses to create collaborations that connected music with consumers in meaningful ways.

At Billboard India, Nayyar will be responsible for overseeing day-to-day business operations, driving revenue growth and building strategic partnerships. She will also play a key role in expanding the brand’s presence in India and strengthening its relationships with artists, labels, brands and other stakeholders in the music industry.

Her appointment comes at a time when India’s music industry is witnessing rapid growth, fuelled by the rise of digital platforms, independent artists and regional-language content. Billboard India, which launched recently through a partnership with Other Side Ventures, has been working to establish itself as a platform that celebrates and promotes Indian music through editorial content, charts, events and industry initiatives.

Nayyar described the Indian music industry as one of the most dynamic creative sectors in the country and said she was excited about the opportunity to contribute to Billboard India’s journey. She added that the focus would be on creating value for artists, fans and industry partners while helping strengthen India’s presence on the global music stage.

Commenting on the appointment, Billboard India leadership said Nayyar’s extensive experience and understanding of the media and entertainment landscape would be instrumental in shaping the company’s future growth strategy.

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