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Family fortunes, family feuds: 10 ways to stop inheritance from becoming a boardroom battle
Indian business families are increasingly treating succession as a governance and continuity issue rather than simply an inheritance question, with advisers urging promoters to formalise family rules, ownership structures, trusts, wills and shareholder arrangements before disputes arise. The broader message is to professionalise the business, prepare successors on merit, plan for incapacity as well as death, and keep succession plans updated as family relationships and assets change.
Altimeter, Atreides urge Nvidia board to keep doors open for Jensen Huang's return as CEO
In a letter addressed to the company's board, Altimeter CEO Brad Gerstner and Atreides Managing Partner and Chief Investment Officer Gavin Baker said the board should not rush to appoint a permanent successor before all the facts surrounding Huang's departure are known.
ET Prime Special Series: Multibagger or IBC – Part 84: Can rising demand for decorative features drive this auto ancillary's growth?
A car can change its engine and still look almost the same. It can also keep the same engine and look so different that buyers happily pay more for it. That is the peculiar corner of the automobile industry this story explores. For one listed supplier, the shift to EVs may be less threatening than it sounds. The bigger question is whether changing consumer preferences can help it build a more valuable business.
Decoding Ola Electric’s dealer pivot: what the shareholders’ letter says
The company has seen its market share shrink amid intensifying competition. TVS Motor, Bajaj Auto, Ather Energy, and Hero MotoCorp have steadily gained market share, pushing Ola Electric to fifth position in monthly registrations.
Altimeter Capital, Atreides urge Nvidia board not to rush Jensen Huang replacement, seek to keep his CEO return open
Nvidia shareholders have expressed concern over a potential leadership change following recent events. Investors Altimeter Capital Management and Atreides Management are advocating for a measured decision-making process. They emphasized the importance of considering founder Jensen Huang's return as CEO. The investors expressed confidence in the company's current interim leadership under CFO Colette Kress.
Anthropic IPO prices shares at $78 ahead of November 19 debut: Can ANT stock become the next big AI investment amid Nvidia stock crash and Jensen Huang fallout?
Anthropic plans to list on the Nasdaq on November 19 under the ticker ANT, with shares priced between $70 and $78. The Claude maker plans to offer 825 million shares, potentially raising $64.4 billion. The IPO comes as Nvidia stock reels from a sharp sell-off amid the Jensen Huang fallout. Investors now have another major AI stock to watch, but Anthropic's high computing costs and financial risks remain.
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How can corporate governance evolve to better serve all stakeholders in India?
Corporate governance is evolving in India as directors balance multiple stakeholders' interests and act accordingly. Section 166 of the Companies Act requires directors to exercise independent judgement for the company's benefit. The board's role includes protecting minority shareholders and ensuring proper conduct among insiders. Multiple perspectives, including principal-agent and stewardship, shape corporate governance practices. Assessing board performance involves examining how well they adhere to these principles and balance stakeholders' needs.
The secondary market is filling a funding gap and changing Indian venture capital for the better
India’s startup exit market has relied largely on IPOs, as mergers and acquisitions (M&A) remain limited. However, the growth of private secondary transactions over the past three to four years is giving venture capital (VC) investors another way to exit and return money to their backers.
Ola Electric shares sink 6% as Q2 revenue falls 39% YoY. What's next?
Ola Electric shares fell over 6% after the company reported a 39% YoY decline in September-quarter revenue to Rs 421 crore, despite narrowing its consolidated net loss to Rs 362 crore. Sequentially, losses widened and revenue declined 7.5%. The stock slipped to Rs 33.48 on the NSE as investors weighed the weak revenue performance and profitability trends.
ET Exclusive | Sunil Mittal’s next big bets: AI, cloud, space telecom and a billion Airtel users
Sunil Mittal reflects on the Bharti Group's journey and outlines future plans during his 50-year entrepreneurial journey. He emphasizes the importance of succession plans and bold investments to ensure growth. Airtel aims to expand into financial services and improve digital infrastructure while keeping cash flow strong. The competitive landscape in telecom presents both challenges and opportunities that Mittal acknowledges.
The advice ‘buy good businesses’ cost Warren Buffett $11 billion. Why that advice is not enough on its own
The price of a share is not a fact. It is a forecast, and it is yours. Buffett pulls apart the one forecast he got badly wrong, then turns to the people who live off forecasts nobody can test. The promoters who pay for firms with their own inflated paper. The bosses whose repurchases reveal more about a share price than about worth. The managers who are paid whether the year went well or badly. And then he lists all that investing truly demands. Four items, and skill is not among them.
MeitY probes physical AI data use; Nvidia CEO Jensen Huang resigns
MeitY is reviewing the practice of collecting first-person video and sensor data from gig workers to train physical AI models. This and more in today’s ETtech Top 5.
Ola Electric Q2 Results: Loss narrows YoY to Rs 362 crore, revenue falls 39%
Ola Electric Q2 Results: The electric two-wheeler maker's revenue from operations fell 39% year-on-year (YoY) to Rs 421 crore from Rs 690 crore in the year-ago quarter.
Nvidia shares plummet 10% in after-hours trade as investors consider a future without Huang
Nvidia Corp's stock faced a sharp decline following troubling reports about CEO Jensen Huang's personal affairs. With fears of his potential departure looming, investors reacted with caution, prompting multiple financial firms to downgrade Nvidia's ratings and adjust their price projections downwards. Analysts worry that such leadership turmoil could disrupt Nvidia's strategic direction, especially in the rapidly evolving AI sector.
Wachtell, Nvidia's pick for Huang probe, built reputation in boardroom battles
The investigation will be led by Joon Kim, a former top federal prosecutor who joined Wachtell last month from a rival firm. Kim was second-in-command under former Manhattan US Attorney Preet Bharara during Democratic US President Barack Obama's administration.
Could Huang, Nvidia and company's board be held liable over affair scandal?
Nvidia CEO Jensen Huang is under scrutiny due to rumored connections with a suspected Chinese intelligence asset. An independent committee of directors is investigating potential implications for Nvidia and its stakeholders. Various legal actions, including a proposed class action lawsuit, are being explored by investors. Federal securities regulators may also investigate for possible violations of disclosure laws. The outcome of these investigations could impact the company's future and stock value.
Greenjoules raises ₹150 crore in Series B funding, secures ₹100 crore TDB loan
Greenjoules has raised ₹150 crore in Series B funding from investors including Amazon’s Smbhav Venture Fund and Climate Pledge Fund, Rainmatter and Singularity, and secured another ₹100 crore loan from the government-backed Technology Development Board. The ₹250 crore financing will support a new Pune plant capable of producing 200,000 litres of biocrude a day from agricultural waste, with the company also planning to expand into sustainable aviation fuel and green hydrogen.
Anthropic IPO: Why are Nvidia, Google, Microsoft and AMD investing billions in their own AI competitor? What Big Tech stands to gain from the Claude maker
Anthropic IPO: Anthropic is set to receive a significant $26 billion investment through its upcoming IPO from several technology companies. Major contributors include Google, Nvidia, and AMD, each seeking commercial advantages. This financial backing will support Anthropic's expansion and operational needs, including increased computing infrastructure. The participating companies aim to benefit from Anthropic's growth while addressing their own strategic interests in the AI market.
Rs 654,000,000,000 blow: How NVIDIA chief Jensen Huang lost billions of dollars in a day?
Jensen Huang net worth: The NVIDIA chief's fortune decreased by over $7 billion after Nvidia's shares dropped significantly on Monday. This fall followed an investigation into Huang's alleged relationship with a Chinese spy. The decline in share price erased around $190 billion from Nvidia's market value, affecting Huang's ranking on billionaires' lists. Huang also issued an apology for his unfaithfulness to his wife, which added to the controversy surrounding him.
Need for rules comes to fore as India corporate landscape clutters up with family feuds
India's corporate landscape is witnessing a surge in family disputes that threaten the very foundation of long-established businesses. Following the exit or passing of key patriarchs, internal discord often erupts, underscoring the critical requirement for legislative mechanisms that favour transparent succession planning.
Blackstone set to acquire 15% of IIFL for Rs 5,000 crore
Blackstone will invest around Rs 5,000 crore for a 15% stake in IIFL Finance, while promoters Nirmal Jain and R Venkataraman will invest Rs 1,200 crore to retain their combined holding at around 25%. Mumbai-based investor Rohit Kothari, through Anchorage Capital, will contribute about Rs 100 crore, taking the total capital infusion to over Rs 6,200 crore.
Succession planning: When a family breaks up, how does the business survive?
If the next generation wants to preserve the family business bot not necessarily together, here’s how they can execute the split without impacting the wealth.
Plea seeking Tata Sons listing filed in Bombay High Court
According to the filing before the Bombay High Court, Rohini Amin and L Ramanathan jointly filed writ petition on November 5. The petition names Tata Sons Ltd, N Chandrasekaran, Saurabh Agrawal, Harish Manwani, Anita M George, Noel Tata, Venu Srinivasan, Darius Khambata, Bhaskar Bhat and Siddharth Sharma as respondents.
AMD's OpenAI, Meta chip deals trigger $1 billion quarterly charge
AMD in February agreed to sell up to $60 billion worth of AI chips to Meta over five years, giving the Facebook owner warrants that could let it buy as much as 10% of the chip firm if it meets certain milestones. The deal followed a similar agreement with OpenAI last year, giving the startup the option to buy up to roughly 10% of the chipmaker.
Lindt investors seek board shake-up at chocolate maker after CEO ouster: Report
Influential investors of Lindt & Spruengli are calling for changes in the board following the CEO's ousting. The company faced significant pricing missteps that negatively affected the stock value and market share. Shareholders expressed concerns regarding the current board's effectiveness and the need for fresh perspectives. While the search for a new CEO is underway, governance issues persist that require attention.
AMD's OpenAI, Meta chip deals trigger $1 billion quarterly charge
AMD in February agreed to sell up to $60 billion worth of AI chips to Meta over five years, giving the Facebook owner warrants that could let it buy as much as 10% of the chip firm if it meets certain milestones. The deal followed a similar agreement with OpenAI last year, giving the startup the option to buy up to roughly 10% of the chipmaker.
SpaceX-Tesla merger could give Musk control without Mars, robotaxi milestones
Elon Musk's compensation packages at SpaceX and Tesla are tied to ambitious goals involving Mars and robotics. Recent discussions on a merger may provide Musk with greater voting control at Tesla. The current arrangement at SpaceX gives Musk significant voting rights without needing to achieve specified goals. Analysts suggest that Musk's plans may be adjusted post-merger to align with new market conditions.
Air India CEO eyes wide-body aircraft order expansion, says profitability remains a concern
Air India CEO Tewolde Gebremariam emphasized the airline's commitment to enhancing financial performance and expanding its aircraft orders. The airline seeks to capitalize on significant growth opportunities in the aviation sector amidst current industry challenges. Gebremariam expressed the need for India to make timely decisions for its potential as a global aviation hub. Air India also aims to rethink its hubs and network structure to adapt to changing conditions.
Darius Khambata does not seek re-appointment on Sir Dorabji Tata Trust and Sir Ratan Tata Trust as his term ends
Senior advocate Darius J Khambata has declined reappointment as a trustee of the Sir Dorabji Tata Trust and Sir Ratan Tata Trust, citing concerns over trustee independence, governance issues within the Tata Group and the proposed listing of Tata Sons.
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