Category: Leaders

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Tata Sons move to renew Chairman’s term

Tata Sons is preparing to extend the tenure of its chairman N. Chandrasekaran for a third term, with the board expected to clear the proposal at its forthcoming meeting. The decision will subsequently be placed before shareholders at an extraordinary general meeting (EGM), in line with the group’s governance process.

Chandrasekaran’s current term runs until February 2027, but the early move to reappoint him signals the Tata Group’s intent to maintain leadership stability at a time when it is executing some of its most ambitious and capital-intensive projects. The Tata Trusts, the principal shareholders of Tata Sons, have already backed his continuation, indicating strong internal consensus.

Since taking over in 2017, Chandrasekaran has overseen a period of significant transformation. Under his leadership, the group has streamlined its structure, strengthened its balance sheet and pushed into new-age sectors such as semiconductors, electronics manufacturing, electric mobility and digital platforms. The high-profile acquisition and ongoing turnaround of Air India has been one of the defining developments of his tenure.

The proposed extension is also notable because it would go beyond the group’s conventional retirement age for executive roles, reflecting the importance placed on continuity as several long-gestation investments move from planning to execution.

The upcoming board meeting is expected to review broader business strategies across key companies. Tata Consultancy Services will present its roadmap in artificial intelligence and emerging technologies, while updates from Air India and Tata Electronics are also likely to be discussed as the conglomerate accelerates its global expansion and manufacturing push.

Chandrasekaran, who previously served as CEO and managing director of TCS, became the first non–Tata family professional to lead the holding company. His reappointment is being seen by industry watchers as a vote of confidence in his leadership and a signal that the group wants a steady hand to guide it through a complex investment cycle and an evolving global business environment.

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AI will transform science, medicine, states DeepMind CEO

Artificial intelligence is set to dramatically change the way science is conducted and how new medicines are discovered, but its benefits must be shared globally and developed responsibly, said Demis Hassabis, CEO of Google DeepMind.

Speaking at the AI Impact Summit in New Delhi, Hassabis described AI as a powerful tool that can significantly accelerate scientific research. He noted that advanced AI systems are no longer limited to analysing data but are increasingly capable of generating new ideas and helping scientists solve complex problems in areas such as biology, chemistry and physics.

He highlighted the growing role of AI in healthcare, particularly in understanding diseases and speeding up drug discovery. Processes that traditionally took many years can now be completed much faster with the help of AI models, raising the possibility of developing treatments more efficiently and at lower cost. This, he said, could improve access to life-saving medicines across the world.

Hassabis also pointed out that AI could help address some of the biggest global challenges, including climate change, energy sustainability and food security, by enabling faster innovation and deeper scientific insights.

At the same time, he cautioned that the rapid progress of AI brings important societal and ethical questions. Ensuring safety, fairness and equal access to the technology will require strong international collaboration. No single country or company, he said, can manage the impact of such a transformative technology alone.

He emphasised the need to make advanced AI tools available to researchers and institutions worldwide so that scientific progress is not limited to a few regions. Wider participation, he added, will lead to more inclusive innovation and better outcomes for humanity.

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AI to reshape jobs, IT services at risk says Vinod Khosla

Artificial intelligence is approaching a major breakthrough, with Silicon Valley investor Vinod Khosla predicting artificial general intelligence (AGI) could arrive within two years. AGI refers to AI systems capable of performing nearly 80% of economically valuable jobs across sectors such as healthcare, engineering, finance, and education.

Khosla warned that traditional IT services and business process outsourcing (BPO) could largely vanish by 2030 as AI performs routine and complex tasks more efficiently. For India, this shift presents both a challenge and opportunity. With its talent pool and technical base, the country could pivot from labour-intensive outsourcing to high-value AI-driven solutions.

He added that large-scale AI adoption could make essential services like healthcare, education, legal advice, and entertainment cheaper or nearly free. However, Khosla cautioned that governments and institutions are underprepared for the speed of disruption, and the full impact will depend on policy and deployment choices.

His message highlights a future where AI transforms work, business models, and service access, urging economies reliant on traditional IT to rapidly adapt.

Also Read: PM Modi says India ready to lead global AI era

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Elon Musk’s $850 bn fortune nears trillion mark

Elon Musk is edging closer to a milestone no individual has ever reached, a personal fortune of one trillion dollars. With his net worth now estimated at around $850 billion, the entrepreneur’s financial rise reflects not just the success of a single company, but the combined momentum of electric vehicles, space technology and artificial intelligence.

The sharp surge in wealth has been driven largely by the soaring valuations of his biggest ventures. Tesla continues to command strong investor attention, while privately held SpaceX has seen its value climb as commercial launches and satellite services expand. The growing buzz around xAI has added another powerful layer to Musk’s financial story, turning his AI ambitions into a major wealth engine.

Despite the staggering figure, most of this fortune exists on paper. Musk’s wealth is tied to his ownership in these companies rather than cash in the bank, meaning daily market movements and fresh funding rounds can dramatically change the total. That also explains how his net worth has leapt by hundreds of billions within a relatively short span.

What sets this moment apart is the scale of his lead over other billionaires. The gap between Musk and the rest of the world’s richest has widened so much that the trillion-dollar conversation now feels less like speculation and more like a question of timing.

For observers, the story is also about how future-facing industries are reshaping global wealth. Electric mobility, reusable rockets, satellite internet and AI are no longer experimental ideas, they are high-value businesses capable of creating unprecedented personal fortunes.

Also Read: Infosys climbs 3% after AI deal with Anthropic

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OpenClaw creator Peter Steinberger joins OpenAI

In a move that reflects the fast-evolving priorities of the global artificial intelligence industry, OpenClaw creator Peter Steinberger has joined OpenAI to help build the next generation of personal AI agents — systems designed to independently manage digital tasks for users and enterprises.

Announcing the development, OpenAI CEO Sam Altman described the hiring as part of the organisation’s long-term vision to move AI from conversational support to real-world execution. These emerging “agentic” systems are expected to handle workflows such as scheduling, customer interactions, software operations and service coordination, areas that business leaders see as the next major productivity leap.

Steinberger’s open-source project OpenClaw has, in a short time, become one of the most talked-about innovations in the developer ecosystem, drawing massive global engagement and crossing the 100,000-star mark on GitHub. Its rapid adoption signals a clear market appetite for AI that does more than generate content, AI that can act.

As part of the transition, OpenClaw will move into an independent foundation model with continued support from OpenAI. This structure is seen as a strategic balance between community-driven innovation and enterprise-scale deployment , a model increasingly favoured in deep-tech ecosystems.

For Steinberger, the decision was mission-led. While the platform had the potential to evolve into a high-value standalone company, he chose to align with a larger AI vision to accelerate real-world impact. The move also brings his product-building experience , from his earlier success with PSPDFKit, into one of the world’s most influential AI organisations.

For business and technology leaders, the significance lies in what comes next. Multi-agent AI frameworks, where specialised systems collaborate to complete complex tasks, are now moving from research to application. This has implications for enterprise automation, digital workforce transformation and new operating models.

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Uday Kotak takes charge as Chairman of GIFT City

The Gujarat government has appointed Uday Suresh Kotak as the new Chairman of Gujarat International Finance Tec-City Company Limited, commonly known as GIFT City. The appointment takes immediate effect, according to a government resolution issued on February 13, 2026.

Kotak succeeds Hasmukh Adhia, who had been serving as the Non-Executive Chairman of GIFT City since June 2023. The state government’s move to bring in one of India’s most respected banking leaders is seen as an effort to further strengthen the city’s position as an international financial centre.

Uday Kotak is the founder of Kotak Mahindra Bank, one of India’s leading private sector banks. Over nearly four decades, he built the institution into a diversified financial services group covering banking, insurance, asset management, investment banking and stockbroking. He stepped down as Managing Director and CEO in 2023 and currently serves in a non-executive role at the bank.

GIFT City, located in Gandhinagar, Gujarat, is India’s first operational International Financial Services Centre (IFSC). It was developed to compete with global financial hubs such as Singapore and Dubai by offering tax incentives, regulatory benefits and world-class infrastructure to international businesses. The centre hosts banks, insurance firms, capital market entities and fintech companies operating in foreign currencies.

Recently, the central government extended tax benefits for businesses operating in GIFT City, further boosting its attractiveness for global investors. With over a thousand registered companies and growing international participation, the financial hub is a key part of India’s strategy to expand its presence in global financial markets.

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Citigroup CEO Jane Fraser’s $42 mn pay sparks debate

Citigroup has increased the total compensation of its CEO Jane Fraser to $42 million for 2025, marking a significant rise from the previous year.

The bank’s board approved the higher pay after a strong year for the company’s stock and financial performance. Citi’s share price surged sharply over the past year, outperforming several other major Wall Street banks. The board said the increase reflects confidence in Fraser’s leadership and her efforts to strengthen the bank’s long-term position.

Fraser’s compensation package includes a base salary, cash incentives, and a large portion in stock awards tied to performance. Much of the payout depends on how well the bank continues to perform in the coming years.

However, the pay hike comes at a time when the bank is undergoing major restructuring. Citi has been cutting jobs as part of a broad turnaround strategy aimed at simplifying operations and reducing costs. The company has already reduced its workforce and is expected to eliminate thousands more roles as part of its multi-year transformation plan.

Fraser has been leading efforts to streamline the bank’s global operations, exit non-core businesses, and focus on key markets. The restructuring is designed to make Citi more competitive and improve profitability after years of lagging behind some of its peers.

The contrast between executive compensation and job cuts has drawn attention, but the board maintains that the pay package is performance-based and aligned with shareholder returns.

Citi says the restructuring will ultimately create a stronger and more efficient bank, positioning it for sustained growth in the future.

Also Read: Muthoot Q3 profit jumps 95%, stock slides 10%

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Two xAI co-founders step down

Two of the original co-founders of Elon Musk’s AI startup xAI, Yuhuai “Tony” Wu and Jimmy Ba, have resigned, joining a series of departures from the company. Their exit leaves half of xAI’s founding team gone, just a few years after the startup was launched.

Both shared their goodbyes on Musk’s social media platform X, thanking Musk and expressing optimism about the future. Neither revealed detailed reasons for leaving. Their departure follows other senior exits, including engineers and founders, signaling a significant leadership shake-up.

The changes come after xAI’s merger with SpaceX, a move that combines Musk’s AI and space ambitions. The merger, valued at around $1.25 trillion, aims to support projects like space-based AI data centers and advanced computing tools. Plans for a future IPO were also confirmed.

Musk has reorganized xAI around four main areas: chatbot and voice tools, coding support, image and video generation, and advanced AI systems. New leaders have been appointed to head each unit, with Musk emphasizing speed and innovation to stay competitive with rivals such as OpenAI and Anthropic.

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Akasa Air co-founder Praveen Iyer quits

Akasa Air Co-Founder Praveen Iyer Resigns Amid Leadership Changes

Akasa Air is witnessing another senior-level exit with co-founder and Chief Commercial Officer Praveen Iyer stepping down from his role. His departure marks the second major leadership change at the airline in recent months, raising attention in India’s fast-growing aviation sector.

Iyer has been part of Akasa Air’s journey since its launch in August 2022. As Chief Commercial Officer, he played a key role in shaping the airline’s commercial strategy — from route planning and pricing to sales and revenue growth. During his tenure, Akasa rapidly expanded its domestic network and began building its international presence.

Following his resignation, the airline has appointed Anand Srinivasan, currently Chief Information Officer, to lead the commercial function. The company has not publicly shared reasons for Iyer’s exit.

This leadership transition comes after another co-founder, Neelu Khatri, who oversaw international operations, resigned last year. Despite these exits, Akasa has maintained that its expansion strategy remains firmly on track.

Backed by the family of late investor Rakesh Jhunjhunwala, Akasa Air has also strengthened its financial position with fresh investments from prominent institutional backers. The airline has been adding new Boeing 737 MAX aircraft to its fleet and expanding routes to compete with established players in India’s highly competitive aviation market.

Like many young carriers, Akasa has faced industry challenges, including aircraft delivery delays and rising operational costs. However, it has continued to grow steadily, focusing on efficiency, customer experience and network expansion.

Also Read: Alphabet raises $32 billion via bonds for AI push

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Balaji Krishnamurthy named Uber CFO

Uber Technologies has named Balaji Krishnamurthy as its new Chief Financial Officer, marking an important leadership transition at the global ride-hailing and mobility company.

An Indian-origin executive with deep financial expertise, Krishnamurthy will take over the role from February 16, succeeding Prashanth Mahendra-Rajah, who is stepping down after nearly three years. Mahendra-Rajah will continue to support Uber as a senior finance advisor for a few months to ensure a smooth handover.

Krishnamurthy is not new to Uber. He has spent more than six years at the company and was most recently Vice President for Strategic Finance and Investor Relations. In this role, he worked closely with Uber’s leadership on financial planning, long-term strategy, capital allocation, and communication with global investors. His appointment reflects Uber’s preference for continuity and internal leadership as it navigates an evolving business environment.

Before joining Uber in 2019, Krishnamurthy built a strong foundation in finance and research. He spent over eight years at Goldman Sachs, where he served as Vice President in equity research, covering technology and internet companies. Earlier in his career, he also worked with Indian firms such as Info Edge India, iTrust Financial Advisors, and Irevna, gaining exposure to both Indian and global markets.

Academically, Krishnamurthy has an impressive background. He holds a Bachelor’s degree in Electronics and Communication Engineering from Manipal Institute of Technology and an MBA from the Management Development Institute (MDI), Gurugram. He also participated in an exchange programme at Copenhagen Business School and is a Chartered Financial Analyst (CFA). In 2025, he further strengthened his leadership credentials by completing the CFO Leadership Program at Harvard Business School.

His elevation comes at a crucial time for Uber. The company has reported strong growth in trips and gross bookings, even as it balances profitability goals with investments in future technologies such as electric mobility, autonomous vehicles, and platform expansion.

Uber CEO Dara Khosrowshahi has expressed confidence in Krishnamurthy’s ability to guide the company’s financial strategy, citing his deep understanding of Uber’s business and culture.

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