Indian expatriates heading corporate giants in the West

[BreadPakoda]

He’s a Stanford grad.

Out of curiosity are there any who aren’t US post grads and are exclusively Indian products? Just curious if having a US degree is still. A barrier to these roles

From first hand experience - it’s far easier to enter and grow in the US job market with a US degree.

 

[NishanKonar]

He’s a Stanford grad.

Out of curiosity are there any who aren’t US post grads and are exclusively Indian products? Just curious if having a US degree is still. A barrier to these roles

Nearly impossible to rise up corporate ladder in USA without attending élite US college - u need that network and alum support

One exeption is Ajay Banga - CEO of Visa. He is pure Indian product

 

[JaDed]

While i defn respect their struggle and rise to top, but to me Baiju Bhatt , Vivek Ranadiv, Apoorva mehta , Rohan seth are much more of an Inspiration than the CEOs and better role models as well

Glad first generation thinks out of the box and are risk takers

 

[Afzal_K]

What would be Pakistani equivalent of IIT?

Also why is it called IIT Bombay?, shouldnt it be Mumbai

 

[street cricketer]

What would be Pakistani equivalent of IIT?

Also why is it called IIT Bombay?, shouldnt it be Mumbai

They were established before the name change of cities took place. So IIT Bombay, IIT Madras, etc., remain with the same names.

 

[Itachi]

IITians are different breed. I think you need preparation from at least VIII standard to have any chance.

Same goes for AIMS. I did attempt AIMS (and AFMC) but gosh they were hard as hell. Those people who can crack the above exams have my utmost respect.

 

[Afzal_K]

They were established before the name change of cities took place. So IIT Bombay, IIT Madras, etc., remain with the same names.

so no isues with those goons from shive sena

 

[Itachi]

so no isues with those goons from shive sena

Non Indians can't realize the drastic difference between any two Indian states.

 

[street cricketer]

so no isues with those goons from shive sena

Bombay, Madras and Calcutta are colonial era names, not Mughalai era names. So not sure why the Shiv Sena would be angry.

Besides I actually like the colonial era names more, Bombay, Madras, etc., give a nostalgic feel, but that's just me.

 

[BreadPakoda]

Also, US is a meritocratic nation. Once you have a job….if you’re good at what you do, your nationality won’t matter. It’s truly a land of opportunity.

 

[dildilpak]

IITians are different breed. I think you need preparation from at least VIII standard to have any chance.

Same goes for AIMS. I did attempt AIMS (and AFMC) but gosh they were hard as hell. Those people who can crack the above exams have my utmost respect.

Have tremendous respect for the IIT grads - some of the smartest i know. My room-mate at Dartmouth was from IIT Bombay as well, he has now his own fintech startup here in NYC - great guy!

 

[Jeetlodil]

Nearly impossible to rise up corporate ladder in USA without attending élite US college - u need that network and alum support

One exeption is Ajay Banga - CEO of Visa. He is pure Indian product

CEO of Mastercard, not VISA

 

[Jeetlodil]

IITians are different breed. I think you need preparation from at least VIII standard to have any chance.

Same goes for AIMS. I did attempt AIMS (and AFMC) but gosh they were hard as hell. Those people who can crack the above exams have my utmost respect.

It is AIIMS. not AIMS. Even IIM graduates are a class apart.

 

[MP2011]

Great achievement this.

Well done!

 

[Jeetlodil]

Have tremendous respect for the IIT grads - some of the smartest i know. My room-mate at Dartmouth was from IIT Bombay as well, he has now his own fintech startup here in NYC - great guy!

These are dream institutes in India for students. IIT, IIM and yet even the tier 2 colleges like National Institutes and Government colleges in every state produce smart engineers and doctors.Its education system is the basis of India becoming a rising power in the world today.

Indians become Americans or take up other citizenships but have immense love and pride for their Indian alma mater.

 

[MP2011]

It is AIIMS. not AIMS. Even IIM graduates are a class apart.

Yeah, IIM graduates are really sought after. However its IITians who are renowned world over.

 

[MP2011]

Any IITians out there,

Do you think brand value of IITs is diluted somewhat ever since new IITs been opened in tier 2 & tier 3 cities like Bhubaneshwar, Gandhinagar, Mandi, Indore, Palakkad, Bhilai etc?

Same goes for IIMs.

 

[Rajdeep]

Following are Indian expat CEOs in United States:

Google - Sundar Pichai
Microsoft - Satya Nadella
Adobe - Shantanu Narayen
IBM - Arvind Krishna
Palo Alto Networks - Nikesh Arora
Twitter - Parag Agarwal

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">USA benefits greatly from Indian talent!</p>— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1465386361012297731?ref_src=twsrc%5Etfw">November 29, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[NishanKonar]

Any IITians out there,

Do you think brand value of IITs is diluted somewhat ever since new IITs been opened in tier 2 & tier 3 cities like Bhubaneshwar, Gandhinagar, Mandi, Indore, Palakkad, Bhilai etc?

Same goes for IIMs.

Both IITs and IIMs have 2 tiers - Original & New. Original are the first 6 IITs and first 3 IIMs. Rest are seen as New

Original IIT and IIMs still have that brand value. New IITs and IIMs are seen as second tier

ps : I am IIM Calcutta grad

 

[cricketjoshila]

He’s a Stanford grad.

Out of curiosity are there any who aren’t US post grads and are exclusively Indian products? Just curious if having a US degree is still. A barrier to these roles

He is a IIT grad. Post grad in Stanford.

 

[cricketjoshila]

These are dream institutes in India for students. IIT, IIM and yet even the tier 2 colleges like National Institutes and Government colleges in every state produce smart engineers and doctors.Its education system is the basis of India becoming a rising power in the world today.

Indians become Americans or take up other citizenships but have immense love and pride for their Indian alma mater.

Nadella is neither IIT nor NIT.

 

[cricketjoshila]

Tesla
FB
Amazon to go.

 

[dildilpak]

He is a IIT grad. Post grad in Stanford.

In US terminology, that will be an IIT undergrad & Stanford grad.

 

[jusarrived]

Nadella is neither IIT nor NIT.

Hes from my college. Indian MIT

 

[LaLoco]

Probably the best investment India has ever made, in their education sector, over the years, this investment is paying off.

As a Pakistani, I could be envious at times, but it must be really proud feeling for Indians.

Great Job!!!

 

[Dios]

This is actually really impressive. Even at my firm the number of Partners and Managing Directors born and raised in India is quite surprising. India is definitely doing something right given the way Indians are dominating the corporate world in the US and other western countries. Makes you wonder why the Chinese are lagging behind. Despite there being so many employees in big companies from China, Singapore and Hong Kong here in the US, they can't seem to reach leadership positions the way Indians have done.

 

[JaDed]

Tesla
FB
Amazon to go.

Would be better if they make such companies rather than run them.

I asked an entrepreneur here , he said Indians are absolutely brilliant and sometimes way more overqualified for a position but the risk taking net seems to be very low compared to Eastern European immigrants.

Many say that Indians(from India) are better at maintenance and enhancement than building an entire product(entirely new company) from scratch which Eastern Europeans are capable of esp Serbians, Estonians.

But first generation Indians are defn changing that with Clubhouse, Robinhood, Instacart etc

 

[cricketjoshila]

Would be better if they make such companies rather than run them.

I asked an entrepreneur here , he said Indians are absolutely brilliant and sometimes way more overqualified for a position but the risk taking net seems to be very low compared to Eastern European immigrants.

Many say that Indians(from India) are better at maintenance and enhancement than building an entire product(entirely new company) from scratch which Eastern Europeans are capable of esp Serbians, Estonians.

But first generation Indians are defn changing that with Clubhouse, Robinhood, Instacart etc

I disagree, the likes of Bose,Zscaler, Juniper, Symphony technology, Wayfair are all founded by Indian origin Americans.

 

[globalcitizen]

I disagree, the likes of Bose,Zscaler, Juniper, Symphony technology, Wayfair are all founded by Indian origin Americans.

Sun microsystems as well

 

[cricketjoshila]

Sun microsystems as well

Yes, Vinod Khosla

 

[PakLFC]

Got to give it to India that their people are CEO's of most tech companies. Congratulations to Indian people on this, they should rightfully be proud about this.

 

[saeedhk]

Tremendous respect for Indians and their brilliant education system for producing such great minds. This is something I hope Pakistan can replicate.

 

[BreadPakoda]

Would be better if they make such companies rather than run them.

I asked an entrepreneur here , he said Indians are absolutely brilliant and sometimes way more overqualified for a position but the risk taking net seems to be very low compared to Eastern European immigrants.

Many say that Indians(from India) are better at maintenance and enhancement than building an entire product(entirely new company) from scratch which Eastern Europeans are capable of esp Serbians, Estonians.

But first generation Indians are defn changing that with Clubhouse, Robinhood, Instacart etc

It’s extremely difficult to start a company in the US if you don’t have the right kind of passport.

It’s even more difficult to do so if you have a massive education loan to repay. As a result, most Indians who study here prefer job safety of banking / consulting / big tech.

Also, you don’t need to be an entrepreneur to “build an entire product from scratch”. Someone like Pichai couldn’t have succeeded as a PM and eventually become the CEO of Google without building new products.

 

[BreadPakoda]

^ Ah just realized you wrote building companies in ()..any way. My point is that as an international, it isn’t easy starting your own venture in the US.

 

[JaDed]

I disagree, the likes of Bose,Zscaler, Juniper, Symphony technology, Wayfair are all founded by Indian origin Americans.

Sun microsystems as well

Hotmail too in that logic Sabeer Bhatia.. but first Gen are doing something more just my opinion

 

[Tera Gawaandi]

Biggest contributor among Indian immigrants to US was Narinder Singh Kapany, he is credited with inventing Fibre Optics. He had 120 patents, wrote 100 scientific papers and four books on opto-electronics.

Read more about him - https://en.wikipedia.org/wiki/Narinder_Singh_Kapany

 

[cricketjoshila]

Hotmail too in that logic Sabeer Bhatia.. but first Gen are doing something more just my opinion

Well they are entrenched into the US system so they have the advantage.

 

[cricketjoshila]

Indians in UK also have done well.

 

[JaDed]

^ Ah just realized you wrote building companies in ()..any way. My point is that as an international, it isn’t easy starting your own venture in the US.

I agree.. having said that once they finish grad school they have a great alumni network but probably coz our society they prefer working in Big tech.

 

[Napa]

This is actually really impressive. Even at my firm the number of Partners and Managing Directors born and raised in India is quite surprising. India is definitely doing something right given the way Indians are dominating the corporate world in the US and other western countries. Makes you wonder why the Chinese are lagging behind. Despite there being so many employees in big companies from China, Singapore and Hong Kong here in the US, they can't seem to reach leadership positions the way Indians have done.

From my observations, Indians are good at developing personal relationships, being trusted and finding practical solutions for problems that firms face.

 

[MenInG]

<blockquote class="twitter-tweet"><p lang="und" dir="ltr"><a href="https://t.co/OL2hnKngTx">pic.twitter.com/OL2hnKngTx</a></p>— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1466074646240014340?ref_src=twsrc%5Etfw">December 1, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[Napa]

<blockquote class="twitter-tweet"><p lang="und" dir="ltr"><a href="https://t.co/OL2hnKngTx">pic.twitter.com/OL2hnKngTx</a></p>— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1466074646240014340?ref_src=twsrc%5Etfw">December 1, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

For context, in the above picture Stalin is replaced by Agarwal and Nikolai Yezhov by Dorsey

 

[Lego20]

This is actually really impressive. Even at my firm the number of Partners and Managing Directors born and raised in India is quite surprising. India is definitely doing something right given the way Indians are dominating the corporate world in the US and other western countries. Makes you wonder why the Chinese are lagging behind. Despite there being so many employees in big companies from China, Singapore and Hong Kong here in the US, they can't seem to reach leadership positions the way Indians have done.

What stands them apart is skills and performance combined with aggression and projection and being able to channel it towards tangible value for the company's shareholders.

 

[Cover Drive Six]

IMF appoints outgoing chief economist Gita Gopinath as first deputy MD

Washington, DC: The IMF said today that First Deputy Managing Director (FDMD) Geoffrey Okamoto will leave the Fund early next year and that Gita Gopinath, currently the IMF’s Chief Economist, is proposed to be the Fund’s new First Deputy Managing Director. In making the announcement Kristalina Georgieva, the IMF’s Managing Director said, “Both Geoffrey and Gita are tremendous colleagues—I am sad to see Geoffrey go but, at the same time, I am delighted that Gita has decided to stay and accept the new responsibility of being our FDMD.” (Ms. Gopinath had been scheduled to return to her academic position at Harvard University in January 2022).

Ms. Georgieva added: “Especially given that the pandemic has led to an increase in the scale and scope of the macroeconomic challenges facing our member countries, I believe that Gita—universally recognized as one of the world’s leading macroeconomists—has precisely the expertise that we need for the FDMD role at this point. Indeed, her particular skill set—combined with her years of experience at the Fund as Chief Economist—make her uniquely well qualified. She is the right person at the right time.”

Ms. Georgieva noted that Ms. Gopinath’s contribution to the Fund’s work has already been exceptional, especially her “intellectual leadership in helping the global economy and the Fund to navigate the twists and turns of the worst economic crisis of our lives.” She also said that Ms. Gopinath—the first female Chief Economist in IMF history—has garnered respect and admiration across our member countries and the institution, with a proven track record in leading analytically rigorous work on a broad range of issues.”

Ms. Georgieva observed that under Ms. Gopinath’s leadership, the IMF’s Research Department had gone from “strength to strength,” particularly highlighting its contributions in multilateral surveillance via The World Economic Outlook, a new analytical approach to help countries respond to international capital flows (the integrated policy framework), and Ms. Gopinath’s recent work on a Pandemic Plan to end the COVID-19 crisis by setting targets to vaccinate the world at feasible cost.

On her new appointment, Ms. Gopinath said:

“I am honored and humbled to become the IMF’s next FDMD. Over the past three years I have had the opportunity to experience first-hand and be a part of the hugely important work done by the IMF at the intersection of rigorous economic analysis and public policy. It has been so gratifying to see the positive impact of our work on economies and on the lives of so many people worldwide. As the pandemic continues its grip on us, the work of the Fund has never been more critical and international cooperation never more important. I am very thankful to Kristalina and the Board for this opportunity, and so look forward to collaborating closely with all the incredibly brilliant and committed colleagues at the Fund, working with whom has been an absolute privilege."

Commenting on Mr. Okamoto’s forthcoming departure from the Fund, Managing Director Georgieva said:

“Geoffrey has made important contributions across the broad range of our work program, from our lending and debt policies in a time of crisis to helping enhance our focus on trade, anti-corruption and governance issues. He has also helped guide us on a large number of country issues and in strengthening our relationships with key multilateral groups including at high-level G7 and G20 meetings.” She also highlighted Mr Okamoto’s significant role in helping to strengthen the Fund’s internal management—from budget to the modernization of technology and other systems. She added that “Geoffrey is a terrific colleague, a friend, and I speak for all of us at the Fund in wishing him the best in what is bound to be a very bright future for him.”

On his pending departure from the Fund, Mr. Okamoto said:

“It’s been a privilege to be entrusted with leading the IMF during a period of crisis and an honor to serve alongside the world’s best minds tackling the world’s most complex economic issues. I am very proud what we have been able to do for our members, made possible by the dedication and hard work of the staff. After over a decade of intensive public service, first to the United States and then to the international community, I am eager to return to the private sector and make my next contribution there. I wish Fund colleagues all the success in helping countries tackle the challenges that remain from the current crisis and chart a course to robust recovery.”

Managing Director Georgieva noted that given the increasingly complex policy choices and difficult trade-offs facing the IMF’s 190 member countries—exacerbated by the pandemic—some realignment in the roles and responsibilities of the Fund’s Senior Management Team is being undertaken. In particular, the FDMD will take the lead on surveillance and related policies, oversee research and flagship publications and help foster the highest quality standards for Fund publications.

In conclusion, Ms. Georgieva said “I could not be more pleased that Gita has decided to accept this new role as FDMD. I value highly her sound judgment, good counsel, and unwavering support. I am excited for all of us at the Fund as we look forward to continue to benefit from working closely with her in the years ahead.”

Ms. Gopinath, who is a U.S. national and overseas citizen of India, will start in her new position as FDMD on January 21, 2022.

https://www.imf.org/en/News/Articles/2021/12/02/pr21354-fdmd-okamoto-to-leave-imf-gita-gopinath-to-be-imfs-new-fdmd

 

[Cover Drive Six]

Born in December 1971 in West Bengal’s Kolkata, Gita Gopinath grew up in Mysuru in Karnataka.
According to her father TV Gopinath, Gita was interested in sports, learned the guitar and also participated in a fashion show, but she gave it all up to focus on studies.

“After school, Gita joined Mahajana PU college in Mysuru, and pursued science.
Later, though her marks were good enough for engineering and medicine, she decided to do a BA (Hons) in economics,” he added

Gita chose economics to pursue a career in the civil services, joined Lady Shri Ram College for Women (LSR) in Delhi and topped all three years.

After she graduated, Gita Gopinath joined the Delhi School of Economics where she met her husband Iqbal Singh Dhaliwal.
She joined the University of Washington in Seattle for a fully-funded PhD programme of five years and received her PhD in economics from Princeton University in 2001.

She was an assistant professor of economics at the University of Chicago’s Booth School of Business.
Gita Gopinath joined the faculty of Harvard University in 2005 and is on leave of public service from its economics department where she is the John Zwaanstra Professor of International Studies and of Economics.

She was the economic adviser to Kerala chief minister from 2016-18 and has also served as a member of the Eminent Persons Advisory Group on G-20 Matters for the Union finance ministry.

She was named as one of the 25 Most Influential Women of the Year by the Financial Times in 2021. In 2019, Foreign Policy named her one of the Top Global Thinkers, in 2014, she was named one of the top 25 economists under 45 by the IMF and in 2011 she was chosen a Young Global Leader (YGL) by the World Economic Forum.

She has also been awarded the Pravasi Bharatiya Samman, the highest honour conferred on overseas Indians, by the Indian government.

https://www.hindustantimes.com/world-news/gita-gopinath-from-scoring-45-in-class-7-to-becoming-imf-no-2-101638514940331.html

 

[globalcitizen]

I agree.. having said that once they finish grad school they have a great alumni network but probably coz our society they prefer working in Big tech.

If you take case of Parag, he just started as an engineer 10 years back. That sort of growth is so impressive, and single most factor for his success is handwork and thinking ability. Usa education is only a means to get there not the only means.
He is only 37 years and surely most in this forum are older than him!!

 

[MenInG]

Parag Agrawal, who was appointed this week as Twitter's CEO, has joined at least a dozen other Indian-born techies in the corner offices of the world's most influential Silicon Valley companies.

Microsoft's Satya Nadella, Alphabet's Sundar Pichai, and the top bosses of IBM, Adobe, Palo Alto Networks, VMWare and Vimeo are all of Indian descent.

Indian-origin people account for just about 1% of the US population and 6% of Silicon Valley's workforce - and yet are disproportionately represented in the top brass. Why?

"No other nation in the world 'trains' so many citizens in such a gladiatorial manner as India does," says R Gopalakrishnan, former executive director of Tata Sons and co-author of The Made in India Manager.

"From birth certificates to death certificates, from school admissions to getting jobs, from infrastructural inadequacies to insufficient capacities," growing up in India equips Indians to be "natural managers," he adds, quoting the famous Indian corporate strategist C K Prahalad.

The competition and chaos, in other words, makes them adaptable problem-solvers - and, he adds, the fact that they often prioritise the professional over the personal helps in an American office culture of overwork.

"These are characteristics of top leaders anywhere in the world," Mr Gopalakrishnan says.

Indian-born Silicon Valley CEOs are also part of a four million-strong minority group that is among the wealthiest and most educated in the US.

About a million of them are scientists and engineers. More than 70% of H-1B visas - work permits for foreigners - issued by the US go to Indian software engineers, and 40% of all foreign-born engineers in cities like Seattle are from India.

"This is the result of a drastic shift in US immigration policy in the 1960s," write the authors of The Other One Percent: Indians in America.

In the wake of the civil rights movement, national-origin quotas were replaced by those that gave preference to skills and family unification. Soon after, highly-educated Indians - scientists, engineers and doctors at first, and then, overwhelmingly, software programmers - began to arrive in the US.

This cohort of Indian immigrants did not "resemble any other immigrant group from any other nation", the authors say. They were "triply selected" - not only were they among the upper-caste privileged Indians who could afford to go to a reputed college, but they also belonged to a smaller sliver that could finance a masters in the US, which many of Silicon Valley's CEOs possess. And finally, the visa system further narrowed it down to those with specific skills - often in science, technology, engineering and maths or STEM as the preferred category is known - that meet the US's "high-end labour market needs".

"This is the cream of the crop and they are joining companies where the best rise to the top," says technology entrepreneur and academic Vivek Wadhwa. "The networks they have built [in Silicon Valley] have also given them an advantage - the idea was that they would help each other."

Mr Wadhwa adds that many of the India-born CEOs have also worked their way up the company ladder - and this, he believes, gives them a sense of humility that distinguishes them from many founder-CEOs who have been accused of being arrogant and entitled in their vision and management.

Mr Wadhwa says men like Mr Nadella and Mr Pichai also bring a certain amount of caution, reflection and a "gentler" culture that makes them ideal candidates for the top job - especially at a time when big tech's reputation has plummeted amid Congressional hearings, rows with foreign governments and the widening gulf between Silicon Valley's richest and the rest of America.

Their "low-key, non-abrasive leadership" is a huge plus, says Saritha Rai, who covers the tech industry in India for Bloomberg News.

India's diverse society, with so many customs and languages, "gives them [Indian-born managers] the ability to navigate complex situations, particularly when it comes to scaling organisations," says Indian-American billionaire businessman and venture capitalist Vinod Khosla, who co-founded Sun Microsystems.

"This plus a 'hard-work' ethic sets them up well," he adds.

There are more obvious reasons as well. The fact that so many Indians can speak English makes it easier for them to integrate into the diverse US tech industry. And Indian education's emphasis on math and science has created a thriving software industry, training graduates in the right skills, which are further buttressed in top engineering or management schools in the US.

"In other words, the success of Indian-born CEOs in America is as much about what's right with America - or at least what used to be right before immigration became more restricted after 9/11 - as what's right with India," economist Rupa Subramanya recently wrote in Foreign Policy magazine.

The huge backlog in the applications for US green cards, and increasing opportunities in the Indian market have certainly dimmed the allure of a career abroad.

"The American dream is getting replaced with the India-based start-up dream," Ms Rai says.

The recent emergence of India's "unicorns"- companies worth more than a $1bn - suggests that the country is starting to produce major tech companies, experts say. But, they add, it's too early to tell what global impact they will have.

"India's start-up ecosystem is relatively young. Role models of successful Indians both in entrepreneurship and in executive ranks have helped a lot but role models take time to spread," Mr Khosla says.

But most of the role models are still men - as are almost all of the Indian-born Silicon Valley CEOs. And their rapid rise is not enough reason to expect more diversity from the industry, experts say.

"Women's representation [in the tech industry] is nowhere close to what it should be," Ms Rai say

BBC

 

[hoshiarpurexpress]

If you take case of Parag, he just started as an engineer 10 years back. That sort of growth is so impressive, and single most factor for his success is handwork and thinking ability. Usa education is only a means to get there not the only means.
He is only 37 years and surely most in this forum are older than him!!

He is same age as me. I am still and Individual Contributor as and Engineer. I do make decent salary as 15 years exp guy this guys rise is awesome. But you have to also understand when he joined twitter it was a startup. No one thought it would explode.

The rise of Satya and Pichai in existing behemoths of organisation to the top is pretty awesome as well.

 

[Ahmad-GERMANFC]

He is same age as me. I am still and Individual Contributor as and Engineer. I do make decent salary as 15 years exp guy this guys rise is awesome. But you have to also understand when he joined twitter it was a startup. No one thought it would explode.

The rise of Satya and Pichai in existing behemoths of organisation to the top is pretty awesome as well.

Satya’s rise is way more impressive than this Twitter guy Parag tbh. Parag no doubt must be an amazing manager and very skilled but he was right place at right time

 

[finalfantasy7]

This is really harsh by Vishal Garg - CEO Better.com - - US-based digital mortgage lending company fired 900 people on a Zoom call

About 15 per cent of the company’s employees in the US and India were abruptly laid off as part of the cost-cutting exercise, Vishal Garg, the head of Better.com, can be heard saying in the video call that reportedly took place last week. A recording of the call, which has not been verified, was widely shared on YouTube.

“If you’re on this call, you are part of the unlucky group that is being laid off. Your employment here is terminated, effective immediately,” Mr Garg can be heard telling the employees.

He began the announcement by saying the market had changed and the company had to move with it in order to survive.

“This isn’t news you are going to want to hear. But ultimately, it was my decision and I wanted you to hear it from me. It’s been a really, really challenging decision to make. This is the second time in my career I’m doing this and I do not, do not want to do this. The last time I did it, I cried. This time I hope to be stronger,” Mr Garg said.

“We are laying off about 15 per cent of the company,” he added.

He cited market efficiency, productivity and performance as the reason for the mass layoffs.

The chief executive said all the US-based employees laid off would get four weeks of severance, a month of full benefits and two months of coverup for which the company would pay the premium.

Members of the company’s diversity, equity and inclusion recruiting team were among those who were fired, reported CNN Business.

A number of clips of the video call are being shared on social media, and in one of them an unseen viewer — seemingly an employee of the company — can be heard expressing their shock at the announcement.

“This is not real. Oh my god, I can’t believe this. This is not real. Oh no, this can’t be happening,” the person can be heard saying over the clip.

“Having to conduct layoffs is gut-wrenching, especially this time of year,” the company’s chief financial officer Kevin Ryan said in a statement to CNN.

“However a fortress balance sheet and a reduced and focused workforce together set us up to play offence going into a radically evolving homeownership market,” Mr Ryan added.

Better.com, founded in 2016, recently received $750m (£566m) in investments and is set to go public. The company is preparing to have about $1 billion (£754m) on its balance sheet, CNN reported.

Mr Garg has reportedly been involved in controversy prior to last week’s incident.

In a mail obtained by Forbes magazine in 2020, he wrote to staff: “You are TOO DAMN SLOW. You are a bunch of DUMB DOLPHINS... SO STOP IT. STOP IT. STOP IT RIGHT NOW. YOU ARE EMBARRASSING ME (sic)”.


https://www.msn.com/en-gb/news/worl...ffective-immediately/ar-AARwhCc?ocid=msedgntp

 

[hoshiarpurexpress]

Meet Chanel's New Indian-Origin Global CEO Leena Nair

Leena Nair was the first female and youngest-ever Chief Human Resources Officer of Anglo-Dutch multinational Unilever before she stepped down and joined luxury French fashion house Chanel.

London: Leena Nair, the first female and youngest-ever Chief Human Resources Officer of Anglo-Dutch FMCG major Unilever has stepped down to join French luxury group Chanel as its Global Chief Executive Officer.
She was a member of the Unilever Leadership Executive (ULE), which is responsible for delivering Unilever's business and financial performance.

"Leena Nair, CHRO, has decided to leave the company in January 2022 to pursue a new career opportunity as Global Chief Executive Officer, Chanel Ltd," Unilever said in a statement while announcing Change to its Leadership Executive.

According to the reports, Ms Nair, in her new position with the French luxury group Chanel, will be based in London.

"I would like to thank Leena for her outstanding contribution over the last three decades. Leena has been a pioneer throughout her career at Unilever, but no more so than in her role as CHRO, where she has been a driving force on our equity, diversity and inclusion agenda, on the transformation of our leadership development, and on our preparedness for the future of work," Unilever CEO Alan Jope said.

She has played a critical role in building our purpose-led, future-fit organisation, which is now the employer of choice in over 50 countries globally, he added.

Ms Nair, an alumnus of XLRI Jamshedpur, had joined HUL, Unilever's Indian subsidiary in 1992 and worked for 30 years.

https://www.ndtv.com/indians-abroad...gin-global-chief-executive-leena-nair-2651301

 

[Afzal_K]

I applaud women coming up the ranks, they have lot to offer in a male deaminated world.

 

[hoshiarpurexpress]

IMF chief economist Gita Gopinath meets PM Modi

Gita Gopinath, the chief economist of the International Monetary Fund (IMF), met Prime Minister Narendra Modi on Wednesday. The PM’s Office shared images of the duo's interaction on Twitter.

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Chief Economist of the IMF, <a href="https://twitter.com/GitaGopinath?ref_src=twsrc%5Etfw">@GitaGopinath</a> called on PM <a href="https://twitter.com/narendramodi?ref_src=twsrc%5Etfw">@narendramodi</a>. <a href="https://t.co/2B30CMvjja">pic.twitter.com/2B30CMvjja</a></p>— PMO India (@PMOIndia) <a href="https://twitter.com/PMOIndia/status/1471150106619482112?ref_src=twsrc%5Etfw">December 15, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

The Indian-American Gopinath was recently promoted as the IMF’s first deputy managing director in recognition of her exceptional intellectual leadership in helping the global economy and the global funding body to navigate the "twists and turns" of the "worst economic crisis of our lives".

https://www.hindustantimes.com/indi...a-gopinath-meets-pm-modi-101639587403378.html

 

[JaDed]

Gita Gopinath is 50???Her husband was first rank is UPSC

 

[hoshiarpurexpress]

Gita Gopinath is 50???Her husband was first rank is UPSC

yeah 49. It find it interesting she is meeting Modi just 3 weeks after rejecting Pakistan's IMF loan request conditions(https://www.business-standard.com/a...istan-s-borrowing-request-121112500078_1.html).

Status update may be

 

[DeadlyVenom]

Heres another one! This time for the slightly controversial website "onlyfans". Do you think this could help them tap into the massive Indian market?

https://www.dailymail.co.uk/news/ar...-make-SAFEST-social-media-platform-world.html

Essex-based Tim Stokely, 38, worth £97.3million after founding the company, quit the role this afternoon, appointing Amrapali Gan in his place.

Ms Gan, known at work as Ami or AG, joined the company 18 months ago and until today was its head of communications.

 

[PakLFC]

These people don't benefit India in any way at all. Like Kamla Harris and Priti Patel after moving abroad their loyalty is too where they live and work.

 

[hoshiarpurexpress]

These people don't benefit India in any way at all. Like Kamla Harris and Priti Patel after moving abroad their loyalty is too where they live and work.

Disagree completely.You are comparing politicians with corporations.

These people bring jobs back to India by helping firms open offshore offices in India. Indian origin Top decision makers in Amazon/Microsoft and 100s of other firms have helped in enhancing India’s image as technology hub and brought millions of jobs.
It’s a common trend. People always prefer their local connections. Lot of Lebanese and African founders of companies in Europe have done the same by opening their off shore offices in their respective home countries.Murex, a global trade exchange company found in France has development office in Lebanon.
Careem has a Pakistani founder from USA but I believe they have development office and large operating base in Pakistan as well.

 

[PakLFC]

Disagree completely.You are comparing politicians with corporations.

These people bring jobs back to India by helping firms open offshore offices in India. Indian origin Top decision makers in Amazon/Microsoft and 100s of other firms have helped in enhancing India’s image as technology hub and brought millions of jobs.
It’s a common trend. People always prefer their local connections. Lot of Lebanese and African founders of companies in Europe have done the same by opening their off shore offices in their respective home countries.Murex, a global trade exchange company found in France has development office in Lebanon.
Careem has a Pakistani founder from USA but I believe they have development office and large operating base in Pakistan as well.

No they don't do anything for India neither do Pak's who are in any position of power overseas.There is only the feel good factor, ultimately the loyalty is towards the country where they live and reside. I know how you Indians think of how the world revolves around you which is thanks to the brainwashing your media does.

Yeah I know you have many CEO's, Mittal's and Ambani's which is a different thing altogether. They are not gonna share their wealth with your downtrodden or poor souls begging for every little necessity. The jobs these people create are normally abroad other then second rate call centre jobs are given to Indian's living there. Call your bank and the chances are an Indian accent pretending to be a "Mandy" will answr your query.

No they don't give a damn about their home country once they move abroad.

 

[hoshiarpurexpress]

No they don't do anything for India neither do Pak's who are in any position of power overseas.There is only the feel good factor, ultimately the loyalty is towards the country where they live and reside. I know how you Indians think of how the world revolves around you which is thanks to the brainwashing your media does.

Yeah I know you have many CEO's, Mittal's and Ambani's which is a different thing altogether. They are not gonna share their wealth with your downtrodden or poor souls begging for every little necessity. The jobs these people create are normally abroad other then second rate call centre jobs are given to Indian's living there. Call your bank and the chances are an Indian accent pretending to be a "Mandy" will answr your query.

No they don't give a damn about their home country once they move abroad.

I did not mean sharing wealth. I mean't job creation back home.
As I mentioned there are plenty of examples where people from India/Pakistan/African Nations/Lebanon etc have found companies overseas in the Western World, but when time came to offshoring some of the work there preference was their home country.

I will ignore your dig about Call Centres because clearly you do not understand how offshoring works and how even Call Centers are an important part of companies operations.

 

[Napa]

The jobs these people create are normally abroad other then second rate call centre jobs are given to Indian's living there. Call your bank and the chances are an Indian accent pretending to be a "Mandy" will answr your query.

You really should not write about things you have no idea about.The jobs are not merely "call center jobs". IT service exports from India were estimated at about 79 billion U.S. billion dollars in the fiscal year 2020. The Business Process Management (BPM) and other services followed with a value of 33 and 34 billion U.S. dollars respectively (total $146 billion).



https://www.statista.com/statistics/320753/indian-it-software-and-services-exports/

Having Indian CEOs raises the profile of the Indian high-tech industries and makes Western firms more willing to import their services from India.

Then again, you are the guy who maintains the Mughal Empire lasted for 800 years, so I guess I shouldn't be surprised.

[MENTION=151350]Mesozoic[/MENTION] [MENTION=152959]hoshiarpurexpress[/MENTION] [MENTION=133865]hussain.r97[/MENTION]

 

[hoshiarpurexpress]

You really should not write about things you have no idea about.The jobs are not merely "call center jobs". IT service exports from India were estimated at about 79 billion U.S. billion dollars in the fiscal year 2020. The Business Process Management (BPM) and other services followed with a value of 33 and 34 billion U.S. dollars respectively (total $146 billion).

View attachment 113787

https://www.statista.com/statistics/320753/indian-it-software-and-services-exports/

Having Indian CEOs raises the profile of the Indian high-tech industries and makes Western firms more willing to import their services from India.

Then again, you are the guy who maintains the Mughal Empire lasted for 800 years, so I guess I shouldn't be surprised.

[MENTION=151350]Mesozoic[/MENTION] [MENTION=152959]hoshiarpurexpress[/MENTION] [MENTION=133865]hussain.r97[/MENTION]

Yeah I have repeated this point to this guy earlier as well. But no point in sharing knowledge with someone who just seeks to denigrate.

 

[hoshiarpurexpress]

Heres another one! This time for the slightly controversial website "onlyfans". Do you think this could help them tap into the massive Indian market?

https://www.dailymail.co.uk/news/ar...-make-SAFEST-social-media-platform-world.html

Essex-based Tim Stokely, 38, worth £97.3million after founding the company, quit the role this afternoon, appointing Amrapali Gan in his place.

Ms Gan, known at work as Ami or AG, joined the company 18 months ago and until today was its head of communications.

Well it’s more about regulation in India. Do not think paid service like this will be allowed as it will come under purview of prostitution which is illegal in India.
However, if they make sure that the content remains risqué but does not completely go beyond limits then yeah it will be a huge market to tap into. There is already B Grade cinema which is allowed to operate within the Indian legal framework.

 

[PakLFC]

I did not mean sharing wealth. I mean't job creation back home.
As I mentioned there are plenty of examples where people from India/Pakistan/African Nations/Lebanon etc have found companies overseas in the Western World, but when time came to offshoring some of the work there preference was their home country.

I will ignore your dig about Call Centres because clearly you do not understand how offshoring works and how even Call Centers are an important part of companies operations.

I understand good and well because my first job was in a call centre where I gained a lot of experience. I don't know why you people are touchy about being associated with call centres?

The employment these overseas people provide is not much. The money they pay to their workers is rather poor as well. That is partly why big companies work in third world countries. You obviously have little knowledge of such things too.

Call centre is hard work, they deserve to be paid much more.

 

[PakLFC]

You really should not write about things you have no idea about.The jobs are not merely "call center jobs". IT service exports from India were estimated at about 79 billion U.S. billion dollars in the fiscal year 2020. The Business Process Management (BPM) and other services followed with a value of 33 and 34 billion U.S. dollars respectively (total $146 billion).

View attachment 113787

https://www.statista.com/statistics/320753/indian-it-software-and-services-exports/

Having Indian CEOs raises the profile of the Indian high-tech industries and makes Western firms more willing to import their services from India.

Then again, you are the guy who maintains the Mughal Empire lasted for 800 years, so I guess I shouldn't be surprised.

[MENTION=151350]Mesozoic[/MENTION] [MENTION=152959]hoshiarpurexpress[/MENTION] [MENTION=133865]hussain.r97[/MENTION]

I know much more then you do. Where did i say they were only call centre jobs? Not inly are you unable to read as proved before with your comments but have little knowledge with how things work in the world we live in.

Seems that my view on the Moghul empire is still haunting the Akhand Bharat lovers for good reason. Yeah I know you have many CEO'S too. The set up companies in India because it is cheap for them and economically viable for them. You probably don't know what economically viable means so ask me and I will explain.

 

[PakLFC]

Yeah I have repeated this point to this guy earlier as well. But no point in sharing knowledge with someone who just seeks to denigrate.

It is true that the world sets up call centres in India because it is cheap for them. You guys think all Indian's are CEO's!

 

[hoshiarpurexpress]

It is true that the world sets up call centres in India because it is cheap for them. You guys think all Indian's are CEO's!

I never said all Indians are CEOs.
I said those whoever goes to top brings jobs back to India due to their influence. That is what thier contribution is. Same is true for Careem's Pakistani founder who is in America.

Pakistan is way cheaper than India, in every facet possible. Why no offshoring there then ?

 

[hoshiarpurexpress]

I understand good and well because my first job was in a call centre where I gained a lot of experience. I don't know why you people are touchy about being associated with call centres?

I have no problem in being associated with that. Almost all offshoring started with Call Centres. There are still lots and lots of Call Centres of Global Firms and they are core part of their operations. We are proud of that.

The employment these overseas people provide is not much. The money they pay to their workers is rather poor as well. That is partly why big companies work in third world countries. You obviously have little knowledge of such things too.

Wrong. An average Call Center worker, of a global firm, when starting as a Fresher makes 15000-25000 INR per month, and it goes up to 1Lac when you are a Team lead. It is not a bad salary. Growth is somewhat stunted after that, But many people see it as a gateway and then move on to another parts of Industry.

Call centre is hard work, they deserve to be paid much more.

As i mentioned, yeah it and and they get paid a decent wage in India.

 

[PakLFC]

I never said all Indians are CEOs.
I said those whoever goes to top brings jobs back to India due to their influence. That is what thier contribution is. Same is true for Careem's Pakistani founder who is in America.

Pakistan is way cheaper than India, in every facet possible. Why no offshoring there then ?

So what is the world is setting up call centre's in India? It gives people jobs and puts food on the table. I am the one crediting India with having many CEO's which is a good thing.

The number of job's CEO's bring to India is overall a miniscule. To answer your question Pak dos not have too many big business tycoons.

 

[PakLFC]

As i mentioned, yeah it and and they get paid a decent wage in India.

Then let call centre's flourish in India. People who work in call centre's are not stupid like you think. It is a hard job had you ever done it. A good job for sure when there is nothing else available but they will not eradicate India's extreme poverty. I am right in my opinions regarding off shoring too.

 

[hoshiarpurexpress]

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Watch: <a href="https://twitter.com/hashtag/Chennai?src=hash&ref_src=twsrc%5Etfw">#Chennai</a>'s Auto Anna can give <a href="https://twitter.com/hashtag/startups?src=hash&ref_src=twsrc%5Etfw">#startups</a> a run for their money!<br><br>Anna Durai didn’t have a fancy degree from a business school or any family-owned business to learn the trade. But he knew from ‘day one’ that ‘Customer is King’. <a href="https://twitter.com/anandmahindra?ref_src=twsrc%5Etfw">@anandmahindra</a> <a href="https://twitter.com/ErikSolheim?ref_src=twsrc%5Etfw">@ErikSolheim</a> <a href="https://t.co/efhGvlAp9U">pic.twitter.com/efhGvlAp9U</a></p>— The Better India (@thebetterindia) <a href="https://twitter.com/thebetterindia/status/1484538473160015872?ref_src=twsrc%5Etfw">January 21, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[hoshiarpurexpress]

Padma Bhushan Honours For Microsoft's Satya Nadella, Google's Sundar Pichai

New Delhi: Microsoft CEO Satya Nadella and Google's Sundar Pichai are among the 17 Padma Bhushan awardees this year.
Padma Bhushan is the third-highest civilian award in India after Bharat Ratna and Padma Vibhushan.

The Padma honours are given for exceptional service in different fields - art, social work, public affairs, science and engineering, trade and industry, medicine, literature and education, sports, and civil service.

Indian-American business executives - Mr Nadella, 54, and Mr Pichai, 49 - have been honoured for their contribution in the "trade and industry" category.

General Bipin Rawat, India's first Chief of Defence Staff who died last month in a chopper crash in Tamil Nadu along with his wife and 12 others, has been awarded Padma Vibhushan.

Vaccine makers Serum Institute of India's Cyrus Poonawalla and Bharat Biotech duo - Krishna Ella and Suchitra Ella - have been honoured with Padma Bhushan. The vaccines developed by the two firms - Covishield and Covaxin - gave a much-needed boost to the country in the fight against the pandemic.

One hundred and seven personalities are on the list of Padma Shri awardees, including singer Sonu Nigam and Olympian gold-medallist Neeraj Chopra. Padma Sri is the fourth-highest civilian award.

The government revealed the name of the awardees a day before the Republic Day celebrations in line with the annual traditions.

A total of 128 personalities are on this year's list of Padma honours.

https://www.ndtv.com/india-news/pad...ft-satya-nadella-google-sundar-pichai-2729538

 

[Cover Drive Six]

FedEx names Raj Subramaniam as CEO, replacing founder Fred Smith

FedEx Corp. said Monday that Fred Smith will step down on June 1 as CEO of the package-delivery company that he founded and be succeeded by the company’s president and chief operating officer.

Raj Subramaniam will serve as both CEO and president and Smith will become executive chairman, the package-delivery company said.

Smith, 77, started FedEx in 1973, delivering small parcels and documents more quickly than the post office could. Over the next half-century, he oversaw the growth of a company that combined air and ground service and became something of an economic bellwether because of its service to other companies.

“FedEx has changed the world by connecting people and possibilities for the last 50 years,” Smith said in a statement that also praised Subramaniam’s ability to guide the company. Smith said he will focus on global issues including sustainability, innovation, and public policy.

Subramaniam, 56, joined the company in 1991 and served in several marketing and management jobs in Asia and the United States. He rose to become the chief marketing and communications officer, and also served as the top executive of FedEx Express. He became president and chief operating officer in 2019 and joined the FedEx board the following year. He will remain a director.

Smith said that for the past several years he had recommended to FedEx directors that if he died or became disabled they should name Subramaniam CEO and appoint an independent chairman. On Monday, the board appointed a current director, Brad Martin, as vice chairman and Smith’s designated successor as chairman.

Smith broke the news to FedEx employees in a memo that retraced some of the Memphis, Tennessee-based company’s history. FedEx started with 14 planes and 389 team members, who delivered 186 packages on the first day of operations.

“We were a small startup and had our share of skeptics,” Smith said. He boasted that the company went on to become a “global connector of people and possibilities that would change our world for the better.”

FedEx and rival United Parcel Service have benefitted in recent years from the boom in online shopping, which has meant more parcels for its drivers to deliver to customers’ doorsteps. In 2019, as Amazon.com built up its own delivery business, FedEx dropped a contract to provide express delivery for the retail giant, and stopped ground deliveries for Amazon soon afterward.

FedEx was hurt by the trade war with China, and Smith frequently used forums such as the quarterly earnings call to rail against tariffs, making him one of the few CEOs of a large U.S. corporation to challenge then-President Donald Trump’s trade policies.

The company earned $5.2 billion on revenue of $84 billion in its most recent full fiscal year, which ended last May 31.

Smith and a firm bearing his name own more than 19.2 million shares, according to FactSet. They are worth more than $4.4 billion at Monday’s closing price.

Shares of FedEx rose about 2% in after-hours trading.

https://www.cnbc.com/2022/03/28/fedex-names-raj-subramaniam-as-ceo-replacing-founder-frederick-smith.html

 

[hoshiarpurexpress]

Explained: Who is Raj Subramaniam, FedEx’s new President and CEO

As President and CEO-elect of FedEx Corporation, Raj Subramaniam is responsible for providing strategic direction for all FedEx operating companies.

ExI Indian American corporate veteran Raj Subramaniam is set to replace Frederick W Smith as the new Chief Executive Officer of the delivery giant FedEx, as per an official release from the company.

Fifty years after he founded FedEx, Smith announced on Monday that he would be stepping down as the company’s chief executive in June. “As we look toward what’s next, I have a great sense of satisfaction that a leader of the caliber of Raj Subramaniam will take FedEx into a very successful future,” he said in a statement.

Who is Raj Subramaniam?

Subramaniam, 54, joined FedEx in 1991 and was elected to the FedEx Board of Directors in 2020. He will maintain his seat on the Board, according to the company.

Subramaniam served FedEx Corp as its President and Chief Operating Officer before being named as the CEO-elect this month. He has held various other leadership roles in the company such as the Executive Vice President and Chief Marketing and Communications Officer.

Apart from this, he has also served as the President and Chief Executive Officer of FedEx Express, which is the world’s largest express transportation company.

Since he joined FedEx, Subramaniam has been in several management and marketing roles throughout Asia and the US, in addition to serving as the President of FedEx Express in Canada.

Originally from Trivandrum, he went to IIT Bombay in 1987 to study chemical engineering and later earned a master’s degree in the same field from Syracuse University in 1989.

He also holds an MBA degree in Marketing and Finance from the University of Texas at Austin.

As President and CEO-elect of FedEx Corporation, Subramaniam is responsible for providing strategic direction for all FedEx operating companies, including FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, FedEx Office, FedEx Logistics, and FedEx Dataworks, according to the company website.

The website mentions that Subramaniam has more than 30 years of industry experience at FedEx. “His international leadership experience, keen business insights, and focus on globalization have contributed to the success of FedEx and provide a blueprint as the company revolutionizes the transportation and logistics industry,” it says.

Subramaniam serves on the board of directors of FedEx Corporation, First Horizon Corporation, the U.S. Chamber of Commerce’s China Center Advisory Board, FIRST, U.S.-India Strategic Partnership Forum, and the U.S.-China Business Council. He is also a member of the International Trade Administration’s Advisory Committee on Supply Chain Competitiveness (ACSCC).

https://indianexpress.com/article/explained/raj-subramaniam-fedex-president-ceo-7842007/

 

[hoshiarpurexpress]

FedEx names Raj Subramaniam as CEO, replacing founder Fred Smith

FedEx Corp. said Monday that Fred Smith will step down on June 1 as CEO of the package-delivery company that he founded and be succeeded by the company’s president and chief operating officer.

Raj Subramaniam will serve as both CEO and president and Smith will become executive chairman, the package-delivery company said.

Smith, 77, started FedEx in 1973, delivering small parcels and documents more quickly than the post office could. Over the next half-century, he oversaw the growth of a company that combined air and ground service and became something of an economic bellwether because of its service to other companies.

“FedEx has changed the world by connecting people and possibilities for the last 50 years,” Smith said in a statement that also praised Subramaniam’s ability to guide the company. Smith said he will focus on global issues including sustainability, innovation, and public policy.

Subramaniam, 56, joined the company in 1991 and served in several marketing and management jobs in Asia and the United States. He rose to become the chief marketing and communications officer, and also served as the top executive of FedEx Express. He became president and chief operating officer in 2019 and joined the FedEx board the following year. He will remain a director.

Smith said that for the past several years he had recommended to FedEx directors that if he died or became disabled they should name Subramaniam CEO and appoint an independent chairman. On Monday, the board appointed a current director, Brad Martin, as vice chairman and Smith’s designated successor as chairman.

Smith broke the news to FedEx employees in a memo that retraced some of the Memphis, Tennessee-based company’s history. FedEx started with 14 planes and 389 team members, who delivered 186 packages on the first day of operations.

“We were a small startup and had our share of skeptics,” Smith said. He boasted that the company went on to become a “global connector of people and possibilities that would change our world for the better.”

FedEx and rival United Parcel Service have benefitted in recent years from the boom in online shopping, which has meant more parcels for its drivers to deliver to customers’ doorsteps. In 2019, as Amazon.com built up its own delivery business, FedEx dropped a contract to provide express delivery for the retail giant, and stopped ground deliveries for Amazon soon afterward.

FedEx was hurt by the trade war with China, and Smith frequently used forums such as the quarterly earnings call to rail against tariffs, making him one of the few CEOs of a large U.S. corporation to challenge then-President Donald Trump’s trade policies.

The company earned $5.2 billion on revenue of $84 billion in its most recent full fiscal year, which ended last May 31.

Smith and a firm bearing his name own more than 19.2 million shares, according to FactSet. They are worth more than $4.4 billion at Monday’s closing price.

Shares of FedEx rose about 2% in after-hours trading.

https://www.cnbc.com/2022/03/28/fedex-names-raj-subramaniam-as-ceo-replacing-founder-frederick-smith.html

Another organisation in West having IITian as CEO. Man these guys are ruling the roost.

 

[hoshiarpurexpress]

Biggest contributor among Indian immigrants to US was Narinder Singh Kapany, he is credited with inventing Fibre Optics. He had 120 patents, wrote 100 scientific papers and four books on opto-electronics.

Read more about him - https://en.wikipedia.org/wiki/Narinder_Singh_Kapany

This guy is legendary.. Have heard few of his talks.

 

[Ahmad-GERMANFC]

Another organisation in West having IITian as CEO. Man these guys are ruling the roost.

UT MBA and Syracuse masters.

Are any of the CEO pure Indian education products?

 

[JaDed]

UT MBA and Syracuse masters.

Are any of the CEO pure Indian education products?

It’s hard to be a Top person in a tech company in states without being educated there, don’t even see how they would come to USA..(unless Indian consultancy lol)

Irrespective US still believes in meritocracy is what this proves compared to Europe.

On IIT they are good because they take the cream and have one of the best alumni networks in South Asia by far.

I don’t think anyone doubts the capabilities of IITians , few Pak posters have also showered praises on ones they worked with.

 

[Ahmad-GERMANFC]

It’s hard to be a Top person in a tech company in states without being educated there, don’t even see how they would come to USA..(unless Indian consultancy lol)

Irrespective US still believes in meritocracy is what this proves compared to Europe.

On IIT they are good because they take the cream and have one of the best alumni networks in South Asia by far.

I don’t think anyone doubts the capabilities of IITians , few Pak posters have also showered praises on ones they worked with.

No but I mean is it an achievement of IIT per se. I think it’s individual achievement.

IIT from what I know is Uber competitive to get into (to the. Point where it may be toxic). So it is a self selecting bunch. So these smart kids will always be likely to get into these good US grad programs. And then these good grad programs open these opportunities for them.

As for coming to US. Can you not be as successful if you came thru consultancy? It probably is the case because in my experience Americans do like an American degree on the resume.

 

[Lego20]

UT MBA and Syracuse masters.

Are any of the CEO pure Indian education products?

Its the IIT on his resume that shines and qualifies him more than syracuse and ut - both pale and substandard for an IIT alumni.