How Wipro, Infosys, Cognizant create their leaders

BANGALORE: Every year, Wipro chairman Azim Premji and the CEO of the company's IT business  TK kurien block one week of their time to review succession slates in the company. The search is not restricted to front-line leaders who would occupy corner room positions; it runs deeper in the organization covering a large number of leaders across different business units. 

Wipro's Talent Review and Succession Planning exercise assesses its leadership bench strength annually and makes sure there is a ready pool of successors to fill critical roles. "The talent review process gives us a leadership-level talent inventory and capability map that reflects the extent to which critical talent needs are fulfilled vis-a-vis business drivers. This process covers 600 senior leaders in the organization," said Saurabh Govil, global HR head for Wipro's IT business. The annual exercise is timed around the completion of the annual performance appraisal in May. 

Many of the major IT companies have put in place, or are in the process of putting in place, succession plans for not just their top management executives, but also their leaderships at different levels. For US listed companies, CEO succession planning is now almost a mandate. In 2009, the Securities and exchange commission provided shareholders the right to demand more transparency in CEO succession planning. 

Infosys Technologies put in place succession planning early last decade, when it identified some 400 potential leaders. Its Leadership Institute in Mysore has played a big role in training leaders. Over 800 employees have undergone the programme at this institute. Incidentally, Infosys even has an IT solution for succession planning called TalentEdge that helps organizations determine successors for employees who play critical roles. 

Mid-sized IT firm Mind tree has initiated a leadership review process to identify 100 leaders in the company by 2015-16 . "In managing talent, it's either a make or buy decision. We are creating a leadership pipeline with 80% of talent requirement being groomed in-house , while we will acquire 20% externally ," said Ravi Shankar, chief people officer at MindTree. The company also focuses on succession mentoring where the CEO and chairman of the company spend 15-20 days in a year with the successors who have been identified. 

HCL technologies has a well-defined succession plan for its top 30 managers including its CEO Vineet Nayar. Currently, the top three second-level leaders manage 30% of HCL's business and one of them could succeed Nayar. These include Rahul Singh, president of financial and business services , Anant Gupta, president of infrastructure services and Steve Cardell, president of enterprise application services. 

Cognizant Technology solutions recently benchmarked the skills and competencies of 22 senior executives in India as part of its succession planning. "They will eventually play a larger role in the company, heading critical functions," said a source privy to the development. However,the company denied undertaking such an exercise. 

Though companies are secretive about succession planning, they follow a rigorous process to get visibility into the company's leadership talent pool. "This assessment leads to an identification of short-term and long-term successors for each key role," said Govil. Wipro identifies three successors for each critical role. 

MindTree follows a multi-tier assessment process to benchmark competencies of internal candidates under its Leadership Talent Review process. This includes peer reviews, mapping competencies by teams internally and by external consultants. "The successors are put through a nine-month structured leadership programme to prepare for critical openings. An action plan is drawn up with live projects to review the results and bridge the existing skills gaps. A personal coach is assigned to groom potential successors," Ravi Shankar said. 

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Sharp plans to cut 5,000 jobs globally: Sources

TOKYO: Japan's Sharp is considering cutting 5,000 jobs globally, or just under 10 per cent of its consolidated workforce, a source close to the matter said on Thursday. 

The job cuts will be sought through early retirement and will also include reductions resulting from a plan to hive off ownership of its underused Sakai LCD factory in western Japan to Taiwan's Hon Hai Precision Industry, the source said. 

The maker of Aquos TVs posted a record net loss in the year ended March 31 on a plunge in demand for its TVs that left it saddled with a glut of LCD panels. 

Demand for its TVs and solar panels remains weak, and a $198 million settlement in a US LCD cartel case will further weigh on its April-June earnings results due at 3 p.m.

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BlackBerry-maker Research in Motion denies handing over encryption keys to India

TORONTO Research in motion has refuted a new round of Indian media reports, which claim that the BlackBerry maker has granted the Indian government the encryption keys to its secure corporate email and messaging services.

India is one of the Canadian smartphone maker's few growing markets, where it is expanding aggressively. The company is facing falling sales elsewhere as customers abandon the BlackBerry in favor of Apple's iPhone and a slew of devices using Google's Android software, leading to RIM's shares falling by more than 50 per cent over the past one year.

RIM, which has been grappling with the Indian government for years, reiterated that it cannot provide access to its enterprise email and messaging services as the company itself does not possess the encryption keys for the same and these remain in the control of its corporate clients.

The Economic Times, in a report on its website that cited a telecom department official and certain documents reviewed, said that RIM had provided the Indian government a solution that gave it access to corporate emails.

RIM categorically denied this claim in a statement. It has more than once refuted similar claims in India over the last two years.

"RIM is providing an appropriate lawful access solution that enables India's telecom operators to be legally compliant with respect to their BlackBerry consumer traffic, to the same degree as other smartphone providers in India, but this does not extend to secure BlackBerry enterprise communications," said Waterloo, Ontario-based RIM in a statement.

RIM gave India access to its consumer services, including its Messenger services, in January last year after authorities raised security concerns, but said it could not allow monitoring of its enterprise email.

The Indian government is fearful that encrypted BlackBerry services could be used to foster unrest or allow militants to organize or carry out attacks.

'Secure and encrypted'
David Paterson, RIM's head of government relations, said he is positive that the Indian government recognizes encryption is fundamental to attracting and maintaining international business in the country and that it would not make any demands that could jeopardize foreign investment in India.

"The fact is that BlackBerry enterprise communications in India remain secure and encrypted. No change has been made or ever can be made in India or anywhere," he said in an interview.

RIM has also faced similar political pressures in the Middle East and elsewhere. It also blocked pornographic sites on its browsers in Indonesia last year following government pressure.

RIM has long maintained that only the sponsoring business or organization has the technical capability to grant access to encrypted enterprise email.

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Yes Bank raises Rs 1,180 crore foreign loan

MUMBAI: Private bank Yes bank on Thursday said it has raised around Rs 1,181 crore through a dual currency syndicated loan facility from foreign markets.

The facility has a maturity of one year and will be used for general corporate purposes and trade finance, the city-based private lender said in a statement.

The bank had entered the market with an intention to raise USD 140 million euro and 32 million euro, but increased the amount to USD 155 million euro and 50 million euro following over-subscription, it added.

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Will Vodafone, govt settle tax row?

NEW DELHI: With P Chidambaram back in the finance ministry, all eyes are on him as investors await his next move on his predecessor's controversial tax issues, including the Rs 12,000 crore Vodafone case.

There is already talk of an out-of court settlement with the telecom giant that faces the prospect of a fresh notice after the government retrospectively amended the law to levy capital gains tax on its acquisition of Hutch's stake in the Indian venture. "If the law had to be amended it should have been amended when the Bombay High court ruled in the government's favour," said a top official. The Supreme Court had overturned the order on the grounds that the Hutch-Vodafone deal was an offshore deal that was outside the jurisdiction of Indian tax authorities.

Vodafone has received a notice as "an agent" of Hutch for its failure to deduct tax while paying the consideration to the Hong Kong-headquartered entity which did the transaction through a Cayman Island-based entity. Chidambaram refused to discuss anything with the media on the day he took charge at the finance ministry for a third term. The Harvard-educated lawyer is no stranger to long-drawn tax cases.

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Sensex down almost 75 points

MUMBAI: A benchmark index of Indian equities markets was almost 75 points down on Thursday in afternoon trade on profit-booking after recent gains.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,245.68 points, was ruling at 17,182.72 points, 0.43 percent or 74.66 points down from its previous day's close at 17,257.38 points.

It had gained nearly 620 points in the last four sessions.

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US couple arrested for steamy sex session in Walmart

NEW YORK: An American couple was arrested for stealing a jelly tube and enjoying a sex session in the middle of Walmart aisle.

According to the Hutchinson News, Tina Gianakon and Julian Call from Kansas were booked into the Reno County jail on charges of theft, lewd and lascivious behaviour, the Newyork daily news reported.

Cops revealed that 22-year-old Call "sexually fondled" Gianakon in front of other customers, who then reported the incident to the police.

The horny couple reportedly shoplifted several items from the store in Hutchinson, Kansas.

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Dead whale found in Australian ocean pool

SYDNEY: A dead humpback whale washed up in a Sydney Ocean Pool on Wednesday, surprising morning swimmers and causing a major headache for authorities who must now remove it.

The 11.6 metre (38 foot) young adult humpback, which appeared to have been dead for several days, washed up at Newport beach's ocean baths overnight as rough seas lashed parts of Australia's east coast.

Ocean baths are open-air man-made structures on the edge of the beach filled with sea water.

"It does have some external injuries but there's no way of knowing whether they were antemortem or postmortem," said Wendy McFarlane from the Organisation for the Rescue and Research of Cetaceans in Australia (ORRCA).

McFarlane said one possible explanation for the otherwise seemingly healthy animal, estimated to be about 25 to 30 tonnes, to die at sea could be that it had been struck by a ship.

Whales generate huge public interest in Australia and hundreds of people flocked to the beach to see the whale floating in the pool.

Sydney's Daily Telegraph said some locals were moved to tears.

"It's so sad but it is a natural thing to happen in nature," Lua Silva told the paper.

Newport beach, which is north of Sydney city, was closed because of the risk of sharks being attracted to the carcass as wildlife experts mulled their best options to remove the giant creature.

McFarlane said one option could be to demolish the pool wall and let the animal wash up on the beach.

Another solution could be to pull it out to sea at high tide, or bring in an excavator to lift it over the damaged pool wall at low tide.

National Parks and Wildlife Service spokesman Geoff Ross said old and sick humpbacks could wash up after big seas.

"In big seas the predators don't get the opportunity to deal with the carcass so it often washes in and we've seen that on several occasions over the last few years."

A dead and badly-decomposed 10-metre sperm whale washed up on the same beach in 2011, lodging itself on a rock platform. Another carcass hit nearby Palm beach later that year but eventually washed out to sea.

Whales are often seen off Australia's coast in June and July as they make their annual winter migration from Antarctica up to the warmer waters off Queensland state, and again as they return before November.

National Parks and Wildlife Service area manager Chris Grudnoff said while a dead animal was unfortunate, it signalled there were increasing numbers of whales in the waters off Australia.

"The upside of the fact that we are seeing more dead whales is that it indicates that we have a whole healthy population out there in the ocean," he said.

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Afghan forces thwart Taliban attack on Kabul, kill 8

KABUL: Afghan security forces killed at least eight insurgents during an early morning raid in Kabul on Thursday, with authorities saying they had thwarted a Taliban mass attack on the capital after a seven-hour gun battle.

Soldiers from Afghanistan's intelligence agency, the National Directorate of Security (NDS), launched the raid in darkness, entering a building about an hour after midnight in Kabul's Pul-e-Charkhi district which the insurgents were using as a base.

"We have already killed eight insurgents and also seized explosives. They aimed to enter a building in Kabul and launch a combined attack on security forces, government offices or offices belonging to foreigners," an NDS spokesman told Reuters.

The Taliban issued a statement denying that Thursday's operation was against their fighters, although the insurgents often play down their defeats and inflate successes.

Taliban militants launched a big attack in central Kabul on April 15, occupying a high-rise construction site and pounding the city's diplomatic and business centre with rocket-propelled grenades and small-arms fire until they were killed.

On June 22, Afghan security forces fought a day-long battle with militants after a Taliban attack on a lakeside hotel on the outskirts of Kabul.

But security forces and NATO-led foreign troops say the sporadic attacks do not point to weaknesses in Afgan forces and intelligence ahead of a withdrawal by most foreign combat troops to be completed by 2014.

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US regulator says no to Obama mortgage write-down plan

WASHINGTON: The top US housing regulator rebuffed a plan by the Obama Administration to cut mortgages held by struggling homeowners, a blow to the White House, which is keen to show voters it can help fix the housing market. 

The regulator for government-run housing finance giants Fannie Mae and Freddie Mac said on Tuesday that using taxpayer-funded bank bailout money could encourage defaults and not make a big improvement in reducing foreclosures in a cost-effective way for taxpayers. 

"The anticipated benefits do not outweigh the costs and risks," said the Federal Housing Finance Agency's head Edward DeMarco, who has come under intense pressure from the government to agree to the plan. 

The regulator's decision drew an immediate rebuke from the Obama administration and Democratic lawmakers. Treasury Secretary Timothy Geithner disputed the agency's conclusions and urged DeMarco to reconsider his decision. The housing market started deteriorating in 2006 and wiped out trillions of dollars in equity. A lthough t he market has shown signs of recovery, about 11 million homeowners owe more than their properties are worth and the Obama administration has struggled with various taxpayer-funded programs to keep people in their homes. 

"I do not believe it is the best decision for the country," Geithner told DeMarco in a letter released to the media. 

The use of targeted principal reduction would "provide much needed help to a significant number of troubled homeowners, help repair the nation's housing market and result in a net benefit to taxpayers," Gei thner sa id. 

Despite several plans to tac kl e the country's housing problems, most of which is focuse d on giving homeowners the opportunity to refinance at lower interest rates, the ad ministration has yet to come up with a plan to stabilize the market. 

Obama, a Democrat, is trying to convince voters ahead of the November presidential election that his policies have helped the economy recover from dire days of the financial crisis and ensuing recession. His Republican challenger, Mitt Romney, has said the foreclosure process should be allowed to run its course and hit the bottom. 

Geithner pointed out that DeMarco's own data showed that the program would help nearly half a million homeowners and save taxpayers as much as $1 billion. 

The housing regulator responded saying that figure only applied to a group of homeowners that had not made a mortgage payment in a year and would assume all those borrowers would win a mortgage writedown - a scenario deemed unlikely. 

Rather, DeMarco's analysis showed that the projected net benefit to taxpayers would be $500 million in the best case scenario and its experience has shown that the likelihood of successfully modifying mortgages was small. 

The administration has pressed DeMarco to allow Fannie and Freddie to do more principal writedowns. But DeMarco has maintained that this would needlessly drive up the costs of their taxpayer bailout. 

Fannie and Freddie, which have received $190 billion in rescue funds to stay afloat, were seized by the government in 2008 amid threats of insolvency due to losses on subprime loans. 

Although the regulator found that using the taxpayer bailout funds could result in about 74,000 to 248,000 borrowers being eligible for the mortgage reductions, it said "nearly all of this benefit is simply a transfer from taxpayers" and would rack up the tab for the public. 

Implementing the program "would actually increase taxpayer costs," said DeMarco. 

After spending six months studying whether to use the taxpayer funds, DeMarco's agency concluded that the program would not only be costly and time-consuming to implement but could also send the wrong message to troubled borrowers who might choose to default to win a mortgage reduction. 

The Obama administration wants to use money from the $700 billion Troubled assests relief programme to pay Fannie and Freddie as much as 63 cents for every dollar of mortgage debt they forgive. 

Democratic lawmakers blasted the FHFA's decision. "It is incomprehensible that Mr. DeMarco would reject the chance to save up to a billion dollars in taxpayer funds while helping nearly half a million homeowners stay in their homes," said Representative Elijah Cummings. 

Senator Robert Menendez called DeMarco's decision "terrible" and said it underscores the regulator's intransigence when it comes to debt forgiveness for homeowners even as his own analysis shows the benefit to taxpayers. 

The Washington Research Group viewed the decision as positive for banks, mortgage insurers and home builders as it removed the threat of a new wave of strategic defaults. 

In a letter to lawmakers, DeMarco justified his actions and said borrowers could already obtain relief through programs already in place. The regulator also streamlined its refinancing program and removed certain loan requirements. 

It plans to issue new standards in September for the representations and warranties that banks make to Fannie Mae and Freddie Mac about their loans.

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India may let Pak panel quiz 26/11 witnesses

NEW DELHI: India may allow a Pakistani judicial commission to cross-examine witnesses of the 26/11 Mumbai terror attacks. 

Home secretary R K Singh said New Delhi may consider such a request from Islamabad as it wanted conviction of those who were involved in the Mumbai terror attack. He referred to the seven accused, including LeT commander Zakir-ur-Rehman Lakhvi, Zarar Shah and others, who are currently lodged in a Pakistani 

"We had requested our High Commissioner in Pakistan to approach the government there and ask them how they want to proceed. If they send us a communication, we will look at that communication. 

"Once we get to know as to how they want to proceed, we will consult our legal team what is feasible and what is not. We want these people to brought to justice," he told reporters here. 

Singh's comments came in the wake of a report from Islamabad that Pakistani government has informed India that evidence provided by New Delhi in the 2008 Mumbai trror attacks case is not admissible in a Pakistani court as defence lawyers were not allowed to cross-examine Indian officials when the commission had visited Mumbai. 

"So far, we have not received any communication from Pakistan," Singh said. 

Asked about the Pakistani court's contention that the information gathered by the Pakistan comission in India had no evidential value, Singh said Indian legal experts conveyed to the government that whatever evidence the panel had collected has evidential value because the statements were recorded by the magistrate. 

"The magistrate recorded the statements and these were examined by the Pakistani commission. Those statements were true. But the (Pakistani) court has taken a view. We will have to see," the home secretary said. 

Sources said a section within the government has been in favour of giving the judicial commission the right to cross examine witnesses to ensure that the statements were treated as evidence by the anti-terror court in Pakistan. 

The evidence provided by Indian authorities include the confessional statement of Ajmal Kasab, the lone surviving terrorist of 26/11, a CD with intercepts of conversations between the attackers in Mumbai and their handlers in Pakistan, autopsy and medical reports of the dead and injured and the statements of four Indian officials. 

The Pakistani judicial commission had interviewed four Indian officials, including the magistrate who recorded the statement of Kasab and two doctors who conducted the autopsy of nine slain terrorists, during the visit to Mumbai. However, no cross-examination was allowed under an agreement between India and Pakistan.

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Shift fasting activists to hospital, Delhi Police tells Team Anna

NEW DELHI: Delhi Police on Wednesday wrote to Team Anna, requesting it to get Arvind Kejriwal and two other fasting activists shifted to hospital.

In a letter to the fasting members of Team Anna, Delhi Police asked the team to heed the medical advice given by the team of doctors attending to them, an official said.

Earlier, as the health of his aides deteriorated,Anna Hazare warned the government that he will not negotiate with them if the fasting activists are forcefully removed from the Jantar Mantar protest site here.

Hazare and Arvind Kejriwal said they saw a conspiracy to take the activists to hospital to end the stir for a strong Lokpal.

Kejriwal, whose health deteriorated along with that of Gopal Rai on the eighth day of their fast, said that it will be protesters' responsibility to get him out of the facility if he is forcibly taken there.

With the government showing no inclination for talks to end their stir, a worried Team Anna held discussions this morning among its members on the way ahead and decided to adopt a tough stand.

Team Anna requested Kejriwal and Rai to end their hunger strike and let other members carry on with the stir but the activists refused to budge.

A Team Anna member said they requested both Kejriwal and Rai but they did not budge from their position and said that they will continue with the fast.

In the meeting, it was also suggested that some other Team Anna members sit on fast in place of Kejriwal and Rai.

After the meeting, Hazare told protesters that he will not call off his fast till a strong Lokpal bill is passed.

"A man may commit suicide when he is in trouble. What is troubling Arvind? He is fighting for the country. And this fight is creating trouble for the government and there could be a conspiracy to take them to hospital. But this won't work.

"If the government forcefully removes them, I will not talk to anybody in the government. Till we have the strength, we will carry on with the protest," he said.

Kejriwal said he does not have trust in the government doctors and refused to share medical reports with them from today.

"There is a conspiracy to forcibly take me to hospital. I don't have trust in government doctors. If they take me forcefully, then it is your responsibility to get me out of it," Kejriwal said.

The team held two rounds of talks at the protest site, where Hazare's fast entered the fourth day and that of Kejriwal, Rai and Manish Sisodia the eighth day.

After being advised hospitalisation, Kejriwal had yesterday warned the government against using force to remove him and his associates from the protest site.

Addressing protesters this morning, Team Anna member Kumar Vishwas said the health condition of Kejriwal and Rai was "serious". "The whole country is concerned about their health," he said.

The crowd count in the morning was low as rain kept the protesters away from the venue.

Asked what the members were planning to do keeping in view the deteriorating condition of the activists, a Team Anna member said, "Wait and watch."

Miffed over the government not initiating any dialogue process, Hazare had yesterday ruled out talks with even the Prime Minister to end their stir. He also threatened to return Padma Bhushan bestowed upon him as a mark of protest.

Team Anna member Prashant Bhushan targeted the government for not initiating a dialogue with the group, alleging that they want people like Hazare to die so that they can continue to "loot" the country.

"The government said they were not ready to talk to us. This is their attitude. They have utmost disrespect for the people. They want people like Anna, Arvind, Manish and others to die so that they can continue their loot," he alleged.

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Mars mission may get govt nod today

NEW DELHI: India is all set to launch its ambitious mission to Mars in October-November next year as the Union Cabinet is likely to clear the project on Thursday seen as the first step towards exploring the Red planet. 

The mission envisages launching an orbiter spacecraft of 1,350 kg mass around Mars using advanced version of highly proven four-stage Indian Polar Satellite Launch Vehicle (PSLV-XL) during October-November, 2013. 

The orbiter spacecraft will be placed in an elliptical orbit of 500 x 80,000 km around Mars by September, 2014, after a voyage of 300 days from Earth's orbit and will have a provision to carry nearly 25 kg of scientific payloads on-board.

A senior official said, "The mission will be launched from  Satish Dhawan Space centre Sriharikotain Andhra Pradesh in November 2013." 

"The project which is estimated to cost around Rs 450 crore will involve huge manpower of around 185 scientists, engineers and technicians," the official said, adding that the mission will establish India's global technological capabilities. 

Indian Space Research Organization ( Isro)'s Mars project got a big boost when it received a budgetary allocation of Rs 125 crore for its launch in the current fiscal. 

Sources said, the mission cleared by the Space Commission last December entails sending a 25 kg payload onboard the satellite that will orbit the red planet to carry out experiments to learn more about the surface and atmosphere of Earth's closest planet in the solar system. 

A significant amount of work on the planned Mars mission has been completed and scientific payloads have been short-listed. 

The official said the tentative scientific objective for the Mars mission would be to focus on life, climate, geology, origin, evolution and sustainability of life on the planet. 

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