Vehicle subscription and sharing platform, Myles Automotive Technologies announced the appointment of Amrish Bhargava as its new Chief Executive Officer (CEO). The appointment is aligned with the company’s long-term growth, among other things.
As the CEO, he will be responsible for overseeing the partnerships, customer acquisitions, and product enhancements along with working with the founders on the overall business strategy. Prior to starting his journey with Myles, he was heading the Auto Division at Poonawalla Fincorp. Besides driving key business metrics like AUM growth and ROTA, his key responsibilities were charting out business strategy and aligning group goals.
Sakshi Vij, Founder and MD, Mylescars, said, “I am a strong believer that any idea is as good as the team that executes it. As we embark on the next phase of growth at Myles, it is crucial that we are able to do so with a healthy mix of innovation, experience, and collaboration. We are thrilled to welcome Amrish onboard at this stage of our journey. His energy and experience will be integral to our growth moving forward.”
Bhargava brings in over two decades of experience in the Auto Finance and Leasing industry. He has successfully managed portfolios worth over Rs. 1000 crore in the auto finance sector.
Speaking on his appointment, Bhargava added that he is bullish about the future of alternate ownership. Subscription is a logical way forward for the auto space. The customer needs flexibility, and subscription is the way to go.
Simplilearn has announced its first ever ESOP buyback which is worth Rs. 48.74 crore (US$6.4 million). This is the first time ESOPs have been bought back by the company and it was undertaken as part of a recent investment by Blackstone earlier this year.
The company had offered active employees the opportunity to liquidate up to 25% of their vested ESOPs as part of this buyback, with 65% of the active employees with ESOPs liquidating their options as part of this buyback process. Following this, Simplilearn rewarded all these employees with additional new ESOPs for their continued contribution to its growth.
“Having launched our ESOPs plan in 2012, this was an ideal time to offer liquidity on the same. For many of our employees, this was their first opportunity in their professional lives to own or liquidate ESOPs. We are happy to be able to remunerate our employees for their contribution with the buyback. This also provides a great chance to create wealth, given that we also issued new, additional ESOPs for the future,” said Krishna Kumar, Co-Founder and Chief Executive Officer, Simplilearn.
The company derives over 60% of its business at present from international markets. With employee wealth creation as a key part of the people strategy, Simplilearn is hiring leaders across all levels in the Indian and U.S. markets as part of its aggressive growth plan and agenda to strengthen its global team. This hiring includes the recent addition of Deborah Quazzo to the company’s board of directors and the appointment of Saurabh Arya as the Vice President- Simplilearn Enterprise, with many others joining in the next few months.
Zappyhire, an artificial intelligence-based recruitment platform has raised INR 3.71 crore from the Kerala Angel Network and from Alex K. Babu, Founder, and CMD, Hedge Finance Limited.
The round also witnessed the participation of strategic investors such as Shihab Muhammed, Ex-Co-Founder of Freshservice (Freshdesk), Navas Meeran, Chairman, Eastern Condiments Pvt. Ltd., Dr. M. I. Sahadulla, Rajesh Nair – Associate Partner EY, Chairman & Managing Director, KIMS, and K. Paul Thomas, Founder of ESAF Group of Social Enterprises.
“Technology-based recruiting solutions which have the technical heft to scale and provide customized solutions is the need of the hour. Zappyhire has a great product requirement – market offering fit and we are confident that they will produce a valuable service to the talent landscape,“ said the lead investor Rajesh Nair, Associate Partner, EY.
In a statement, the company expressed that it is looking forward to working with marquee investors and exploring all possible synergies. The round saw more than four of Zappyhire’s customers including ESAF and Hedge Securities turn into investors.
Intel Corporation announced the appointment of Steven A. Long as General Manager of Asia Pacific and Japan (APJ) region. Steve Long is Corporate Vice President in Intel’s Sales, Marketing and Communications Group. Long will be responsible for Intel’s overall business in the APJ region, including driving revenue growth, engaging with the local ecosystem to create new opportunities, and strengthening our existing customer and partner relationships.
Long was most recently the global head of sales for Intel’s Client business. He joined Intel in 2000 and has held a breadth of positions across sales, marketing, product planning, pricing and operations, working in Asia, Latin America and the USA. His previous assignment in Asia was in Hong Kong in 2004, managing the operations team responsible for Intel’s business in the region.
‘I am thrilled at the opportunity to continue driving growth and leadership for Intel in this incredibly diverse APJ region, more so at a time where the digitization of everything has been accelerated by the four superpowers of AI, pervasive connectivity, cloud to edge infrastructure, and ubiquitous compute,’