Fortis Healthcare board decides to take offer from Munjal-Burman combine : Bulletin: Business Today
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Fortis Healthcare board decides to take offer from Munjal-Burman combine

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May 11, 2018

Flipkart co-founder Sachin Bansal bids adieu in emotional Facebook post

News of Flipkart co-founder Sachin Bansal's exit from the company had surfaced even before the Walmart deal was finalised. Now, with the Walmart-Flipkart deal following through, Sachin Bansal has put up an emotional post on Facebook. "Sadly my work here is done and after 10 years, it's time to hand over the baton and move on from Flipkart. But I'll be watching and cheering from the outside - Flipsters, you better continue to do a good job!" Bansal wrote in the post with equal measures of nostalgia and encouragement. Talking about what he would be doing in his time off, Bansal said he would take a long time off to finish personal projects, brush upon his coding skills and catch upon gaming. He also added that Flipkart upheld customer centricity and that he got to work with the best people in these years.

Flipkart deal to create 10 million jobs in India: Walmart CEO Doug McMillon

Walmart CEO Doug McMillon has said that the Flipkart-Walmart deal will create around 10 million jobs in India. This includes both direct and indirect jobs. While the deal will allow both retailers to benefit from each other's expertise, it also promises to help the Indian economy in terms of job creation, increasing farmers' income and promoting national initiatives including 'Make in India', as per a joint statement by Walmart and Flipkart.On the issue of job creation, Walmart India said that it will create jobs by developing supply chains and commercial opportunities. Walmart said that its collaboration with Flipkart will also support small businesses by procuring directly from them. The company said that it will support farmer by sourcing its inventory locally

HDFC Bank hunts for Aditya Puri's successor; plans 1 year overlap period  

Even though its founding CEO Aditya Puri has got over two years to serve before he hangs up his boots, the HDFC Bank management is not taking any chances. India's largest private sector lender will start hunting for the next-in-line to fill in CEO's shoes 18-24 months ahead of Puri's retirement. Not just this, the successor will also get to work closely with Puri for a year. During the 12-month overlap period the incoming CEO will get to learn the tricks of the trade hands-on from Puri.  

Fortis Healthcare board decides to take offer from Munjal-Burman combine

In a marathon meeting that went on for hours, the Fortis Healthcare Limited (FHL) board on Thursday met to decide who'll take charge of the cash-strapped largest hospital chain in country. Having played the belle of the ball over the past few weeks, with multiple suitors aggressively competing against, the company finally decided to take the offer from Sunil Kant Munjal of Hero Enterprise and the Burman family of the Dabur group. The Fortis board of directors has also appointed Sabina Vaisoha and Rohit Bhasin as independent directors of the company for a period of five years

After Flipkart-Walmart deal, Biyani planning stake sale to a retail major: Report

Only a day after Walmart announced to buy majority stake in Indian e-tailer Flipkart, reports of offline retail major Future Group looking for a global retail major to sell at least 10 per cent of its stake have surfaced. Its CEO Kishore Biyani has divulged plans to sell minority stake to the 'strongest global retailer' in a media report without naming any prospective buyers.
While Biyani has not taken any names, an individual in the know of things has disclosed that the Future Group founder has had early talks with Amazon and Walmart, according to a report by The Economic Times. Biyani's Future Group has been doing some serious shopping, acquiring half a dozen supermarket store chains over the past six years and building a combined retail space of 13.6 million square feet.
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