Ceo

Jaguar Land Rover (JLR)’s CEO Ralf Speth’s compensation has been reduced by 42 per cent in two years, says a media report. This comes along with the headwinds, Tata Motors owned JLR is facing in the UK. However, it is to note that during the same tenure, earnings for Guenter Butschek, CEO and MD, Tata Motors rose by 14 per cent.Speth’s compensation for the financial year ended on March 31 was reportedly Rs 32 crore as compared to Rs 55 crore in FY18, a dip of 20 per cent.Ralf Speth has played a key role in enhancing JLR’s portfolio on a global level with new age technologies like hybrid and electric.The brand has been affected by declining sales in China, Brexit uncertainty, higher taxations and tightened emission norms. In China, one of the largest and profitable markets for the company, the sales dipped by 34 per cent YoY in FY19.Meanwhile, JLR's revenue came down by 6.2 per cent to 24.2 billion pounds last fiscal.Read also Tata Motors-owned JLR looks to … [Read more...] about JLR CEO’s salary reduces by 42% in 2 years

Tesla CEO Elon Musk paid a friendly visit to Volkswagen CEO Herbert Diess to get a special look at VW's new upcoming electric cars, Diess drove Tesla Model Y, saying it was a "reference" car for the German automaker.The carmaker confirmed that there's no deal in the making between the two automakers and it was basically just Diess checking out Musk's latest electric car, reports Electrek."Of course, I also tested a Tesla Model Y with my colleague Frank Welsch. This car is for us in many aspects (not in all!) a reference: user experience, driving features, the performance of the top of the range models, charging network, range," the report quoted Diess as saying. Diess has often praised Tesla and Musk's approach to electric vehicles and recently predicted that Tesla could become the most valuable company in the world."Elon Musk delivers results that many did not think possible. They show: you can be profitable with electric cars. As one of few car manufacturers (Porsche AG also, for … [Read more...] about Volkswagen CEO drives Tesla Model Y, calls it a ‘reference’ car

PARIS - Renault may have to cut more costs than initially planned to get out of the red zone and its cash-flow projections are alarming, the French carmaker's new chief executive said in an internal memo seen by Reuters.Luca de Meo, a former Volkswagen executive who took over as CEO in July, wrote in the memo to unions and staff that generating cash and restoring profitability was an immediate priority."The aim is to get back on the right track and to resolve our most pressing problems as quickly as possible: treasury and costs. This means we will perhaps need to go further than planned with our cost-cutting efforts," he said.Renault acknowledged in May that its global ambitions had been unrealistic and announced plans to cut about 15,000 jobs, shrink production and restructure French plants in a bid to save 2 billion euros ($2.4 billion).De Meo did not give a figure in his memo for how much more money the company may need to save. Asked to comment on the memo, a Renault spokesman said … [Read more...] about We may need more cuts to escape the red zone: Renault CEO

“The shrine received the income of Rs 115.16 crore from March 17 to August 31 this year, as against Rs 289.55 it had received in the corresponding period last year. This means the income has dipped by Rs 174 crore,” Shri Saibaba Sansthan Trust CEO Kanhuraj Bagate told PTI. … [Read more...] about Shirdi Saibaba shrine’s income dips by Rs 174 crore due to lockdown, says CEO

Started in 2016, CoverGo has grown a lot and the pandemic has accelerated its growth to the next level. Providing automation and digitisation services to insurers, CoverGo has tied-up with insurance firms across Asia, and helped them innovate and expedite processes across life and general insurance segments.Tomus Holub, Founder and CEO, CoverGo said, “Insurance is a traditional domain and more so in a market like Hong Kong as it’s a $60 billion premium market accounting to be one of the largest markets in Asia, so it was challenging to start the business but have managed to crack the market and attract senior insurance industry professionals within our teams.”Holub is highly positive about what the future holds for as they completed their Series A funding amidst the pandemic that he believes is actually quite difficult as investors are skeptical and careful to not invest in the current uncertain environment.Customers Turning to InsurTechsBuying online has become more … [Read more...] about Pandemic has accelerated our growth: CoverGo CEO