In today’s briefing:
- Indian Banking’s Longest-Serving, Highest-Paid HR-Head Quits IndusInd Bank
- Setting the Trading Unit to One Share Is the Quickest Way to Increase Virtual AGMs
Indian Banking’s Longest-Serving, Highest-Paid HR-Head Quits IndusInd Bank
- Zubin Mody, Chief Human Resources Officer (CHRO) abruptly quits Indusind Bank (IIB IN)
- His resignation adds to the leadership vacuum at the top as the bank has no CEO or any executive directors on the board
- Apparently the board of directors wants to reboot the bank with a clean senior executive slate
Setting the Trading Unit to One Share Is the Quickest Way to Increase Virtual AGMs
- It is obvious to everyone that digitization reduces costs. However, if few companies adopt digitization, trust banks that undertake shareholder management tasks will not make temporary investments for digitization.
- With many companies wanting to distance themselves from shareholders, digitization and online services will unlikely accelerate even if legislation is enacted, at least until manual work reaches its limits.
- The solution is to create an environment (setting the trading unit to one share) where it is burdensome to send AGM documents manually and count voting rights manually.
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