Up next: HSBC is also midway through a CEO search, since kicking former CEO John Flint to the curb last August. Consider today’s overhaul announcement by interim CEO Noel Quinn to be his further bid for the permanent gig. (He may want to check out the Conference Board’s report showing that interim CEOs rarely become permanent ones.) Quinn has not hesitated to oust executives and reshape the entire bank while in a temporary role. … [Read more...] about What went wrong at HSBC?
Bajaj Finance's June quarter consolidated net profit rose 43 percent YoY to Rs 1,195 crore, the highest ever. The company had reported consolidated profit at Rs 835.9 crore in the last year. Net interest income during the quarter grew 43 percent, higher-than-street-estimates, to Rs 3,695 crore compared to year-ago. The consolidated asset under management surged 41 percent YoY to Rs 1.29 lakh crore, the non-banking finance company said in its BSE filing. … [Read more...] about Surprise or disappointment: Check out how top companies have performed in Q1