Latest news with #AnnualGeneralMeeting
Economic Times
3 hours ago
- Business
- Economic Times
At TCS AGM, AI-led disruption, automation, geopolitics in focus
The world is facing upheavals on multiple fronts—tariffs, wars, and disruption due to artificial intelligence (AI), said Keki Mistry, non-executive and independent director at Tata Consultancy Services (TCS), as he presided over the 30th Annual General Meeting (AGM) of the company. Tata Sons chairman N Chandrasekaran could not chair the meeting due to 'certain exigencies.' 'We are presently engulfed by uncertainty at multiple fronts. The global economic connections are being reconfigured on a daily basis from tariffs to supply chains, wars and conflicts across regions, to the disruption posed by artificial intelligence. The world faces upheaval at several levels,' said the veteran business executive and former CEO of HDFC. The board of directors recommended a final dividend of Rs 30 per share for the fourth quarter, which brings the total annual dividend for the year to Rs 126 per share. TCS' shareholder payout was Rs 45,588 crores with a payout ratio of 94%.Looking ahead, TCS plans to focus on four strategic pillars: establishing a large pool of AI agents working alongside the human workforce, delivering solutions to a human plus AI model, and investing in AI data centres as well as partnerships, Mistry pointed out that the geopolitical landscape has reshaped how global businesses operate—reimagining their systems, processes, and technologies. 'Among all the shifts, it is the potential of generative artificial intelligence that stands apart. Unlike previous technological revolutions, which arrived sequentially across the globe, GenAI is emerging everywhere simultaneously… GenAI is not just another tech cycle. It represents a generational shift.'
Sinar Daily
8 hours ago
- Politics
- Sinar Daily
Appointments to fill two vacant Cabinet posts is PM's prerogative - Senior pol-sec
On the status of Nik Nazmi as Minister of Natural Resources and Environmental Sustainability, Shamsul Iskandar clarified that Nik Nazmi is currently on leave. 20 Jun 2025 03:13pm Shamsul Iskandar said that decisions regarding Cabinet composition are solely the Prime Minister's prerogative. - Bernama photo PASIR PUTEH - The new appointments to fill the two vacant Cabinet posts left by PKR leaders, Datuk Seri Rafizi Ramli and Nik Nazmi Nik Ahmad, fall entirely under the jurisdiction of Prime Minister Datuk Seri Anwar Ibrahim, according to his Senior Political Secretary, Datuk Seri Shamsul Iskandar Mohd Akin. Speaking to reporters after officiating the 68th Annual General Meeting of the Parent-Teacher Association of Sekolah Menengah Kebangsaan Kamil here, Shamsul Iskandar said that decisions regarding Cabinet composition are solely the Prime Minister's prerogative. Rafizi (left) and Nik Nazmi. Photo edited via Canva "All decisions regarding the Cabinet rest with the Prime Minister. We must give him the necessary space and time to assemble the most effective line-up to continue governing the country, and that decision must be respected,' he said. Commenting further on Rafizi's decision not to return to Cabinet, Shamsul said the former Economy Minister's choice should be accepted by all quarters. "I believe Rafizi's decision must be respected. If he has made up his mind, that's his right,' he said. On the status of Nik Nazmi as Minister of Natural Resources and Environmental Sustainability, Shamsul Iskandar clarified that Nik Nazmi is currently on leave. "Let's wait. He is still on leave and we'll see how things develop,' he added. On May 28, Anwar said that he had received official letters from both Rafizi and Nik Nazmi requesting leave and to step down from their Cabinet posts, effective June 17 and July 4, respectively, following their defeat in the recent party polls. Rafizi failed to defend his seat as PKR deputy president after losing the contest to Nurul Izzah Anwar, while Nik Nazmi lost the election for the post of vice-president. - BERNAMA
The South African
8 hours ago
- Business
- The South African
MTN under fire as senior management fills its pockets as share price falls
Telecommunications giant MTN Group is under fire from shareholders after nearly R249 million was paid to its executives and board members during 2024 – a year in which the company's share price fell by 21%. At its most recent Annual General Meeting (AGM) in late May, 40.82% of shareholders voted against the company's remuneration implementation report, falling short of the 75% approval threshold required for the non-binding advisory resolution to pass. The company's remuneration policy itself also faced scrutiny, with 24.34% voting against it. The 2024 Remuneration Report shows: Group CEO Ralph Mupita earned R64.75 million earned Group CFO Tsholofelo Molefe received R33.6 million received MTN SA CEO Charles Molapisi took home R26.3 million took home Senior VP Ebenezer Asante earned R37.8 million In total, MTN's top executives were paid nearly R198 million. Meanwhile, non-executive directors collectively received R51.4 million, with Chairman Mcebisi Jonas earning R7.37 million. The generous compensation packages stood in sharp contrast to MTN's 2024 stock performance. The share price declined from R117.00 on 1 January to R91.99 by year-end, prompting dissatisfaction among shareholders who saw their investments shrink. This disconnect between executive remuneration and shareholder returns has been a long-standing point of contention. Many investors argue that pay should be more closely tied to company performance and shareholder value creation. Following the AGM, MTN issued a statement via the JSE's Stock Exchange News Service (SENS) acknowledging the shareholder dissent. The company invited those who voted against the resolution to submit concerns in writing and attend a scheduled engagement session on 26 June 2025. 'We value the insights from our shareholders and remain committed to aligning executive pay with long-term strategic goals,' said Dr Khotso Mokhele, chair of MTN's Human Resources and Remuneration Committee. Despite defending the remuneration structure as 'fair, competitive, and performance-driven,' MTN now faces mounting pressure to rethink its pay philosophy, especially in light of lackluster returns to shareholders. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
The Sun
8 hours ago
- Politics
- The Sun
PM holds full authority over Cabinet appointments
PASIR PUTEH: The new appointments to fill the two vacant Cabinet posts left by PKR leaders, Datuk Seri Rafizi Ramli and Nik Nazmi Nik Ahmad, fall entirely under the jurisdiction of Prime Minister Datuk Seri Anwar Ibrahim, according to his Senior Political Secretary, Datuk Seri Shamsul Iskandar Mohd Akin. Speaking to reporters after officiating the 68th Annual General Meeting of the Parent-Teacher Association of Sekolah Menengah Kebangsaan Kamil here, Shamsul Iskandar said that decisions regarding Cabinet composition are solely the Prime Minister's prerogative. 'All decisions regarding the Cabinet rest with the Prime Minister. We must give him the necessary space and time to assemble the most effective line-up to continue governing the country, and that decision must be respected,' he said. Commenting further on Rafizi's decision not to return to Cabinet, Shamsul said the former Economy Minister's choice should be accepted by all quarters. 'I believe Rafizi's decision must be respected. If he has made up his mind, that's his right,' he said. On the status of Nik Nazmi as Minister of Natural Resources and Environmental Sustainability, Shamsul Iskandar clarified that Nik Nazmi is currently on leave. 'Let's wait. He is still on leave and we'll see how things develop,' he added. On May 28, Anwar said that he had received official letters from both Rafizi and Nik Nazmi requesting leave and to step down from their Cabinet posts, effective June 17 and July 4, respectively, following their defeat in the recent party polls. Rafizi failed to defend his seat as PKR deputy president after losing the contest to Nurul Izzah Anwar, while Nik Nazmi lost the election for the post of vice-president.
The Sun
8 hours ago
- Politics
- The Sun
Appointments to fill two vacant Cabinet posts is PM's prerogative - Senior pol-sec
PASIR PUTEH: The new appointments to fill the two vacant Cabinet posts left by PKR leaders, Datuk Seri Rafizi Ramli and Nik Nazmi Nik Ahmad, fall entirely under the jurisdiction of Prime Minister Datuk Seri Anwar Ibrahim, according to his Senior Political Secretary, Datuk Seri Shamsul Iskandar Mohd Akin. Speaking to reporters after officiating the 68th Annual General Meeting of the Parent-Teacher Association of Sekolah Menengah Kebangsaan Kamil here, Shamsul Iskandar said that decisions regarding Cabinet composition are solely the Prime Minister's prerogative. 'All decisions regarding the Cabinet rest with the Prime Minister. We must give him the necessary space and time to assemble the most effective line-up to continue governing the country, and that decision must be respected,' he said. Commenting further on Rafizi's decision not to return to Cabinet, Shamsul said the former Economy Minister's choice should be accepted by all quarters. 'I believe Rafizi's decision must be respected. If he has made up his mind, that's his right,' he said. On the status of Nik Nazmi as Minister of Natural Resources and Environmental Sustainability, Shamsul Iskandar clarified that Nik Nazmi is currently on leave. 'Let's wait. He is still on leave and we'll see how things develop,' he added. On May 28, Anwar said that he had received official letters from both Rafizi and Nik Nazmi requesting leave and to step down from their Cabinet posts, effective June 17 and July 4, respectively, following their defeat in the recent party polls. Rafizi failed to defend his seat as PKR deputy president after losing the contest to Nurul Izzah Anwar, while Nik Nazmi lost the election for the post of vice-president.
