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Tag: Deepak Varma

  • Top level corporate shuffling at WorldSpace; Deepak Varma new MD

    Top level corporate shuffling at WorldSpace; Deepak Varma new MD

    MUMBAI: WorldSpace India Private Ltd., the company that is running WorldSpace satellite radio in India, has appointed former IndusInd Media & Communications head Deepak Varma as its new managing director.

    Varma takes on responsibility at WorldSpace India from KR Harish, who will continue with the organization, now assuming broader corporate financial responsibilities as the CFO of WorldSpace’s Asia operations.

    Varma will head the Indian operations of WorldSpace and lead the company through its planned multi-market rollout mapped for year 2005. He will be based out of Bangalore.

    In his new role as CFO of Asian operations, Harish will drive the financial processes, internal control implementations related to US Sarbanes-Oxley requirements as well as financial planning for India and the additional markets in Asia where WorldSpace will offer its services.

    “Taking over responsibility from KR Harish, I look forward to take WorldSpace to the next level in its growth plans in the coming years. I have only one goal at WorldSpace – to deliver the best of satellite radio to the largest number of satisfied subscribers”, says Varma as he embarks on his new assignment.

    This announcement comes as WorldSpace is pursuing a multi-metro launch of its Indian service. As already reported by indiantelevision.com, WorldSpace Radio is ramping up its operations with the launch of two more stations. Simultaneously, a new marketing and advertising campaign also will hit the market.

    As part of its expansion plans, the company is getting into new markets this year apart from strengthening sales, distribution and customer support network in the existing centres. WorldSpace kicked off its operations in Hyderabad in the first week of April and the next phases will cover Mumbai, Delhi, Pune, Ahmedabad, Chandigarh and Kolkata.

  • IndusInd Media CEO Deepak Varma leaves

    IndusInd Media CEO Deepak Varma leaves

    MUMBAI: Barely two months after being recruited as the chief executive officer of Hinduja TMT subsidiary IndusInd Media & Communications, Deepak Varma has quit the company.

    Srinivas Palakodeti, who was chief financial officer, has been elevated as the company’s chief operating officer. HTMT is in the process of de-merging its information technology and media businesses.

    “The cable TV industry operates in a way that is not in sync with the understanding that I have had with my past job experiences,” Varma tells Indiantelevision.com. Varma was earlier serving as chief operating officer of BPL Mobile Communications Mumbai. After quitting BPL, Varma was working with a telecom company abroad.

    “The cable TV industry could not accept Varma’s style of operations. A group of IndusInd’s distributors protested against him,” a source in the company said.

    Varma had taken over from General Anand who retired on health grounds. But soon after being in charge, he fell out with the distributors and found it difficult to understand the complexities of the cable industry.

    HTMT is in the process of constituting two debt-free listed companies with mirror shareholding. While information technology and telecom businesses will form part of the technology company, media, including film content and cable TV distribution and broadband, will be part of the new entity.

  • IndusInd Media gets a new CEO in Deepak Varma

    IndusInd Media gets a new CEO in Deepak Varma

    MUMBAI: Hinduja TMT subsidiary IndusInd Media & Communications will have a new chief executive officer, even as the company has decided to de-merge its information technology and media businesses.

    Deepak Varma, former chief operating officer of BPL Mobile Communications Mumbai, has joined IndusInd Media as the CEO. Since quitting BPL, Varma has been working with a telecom company abroad.

    General CL Anand will continue as the managing director of IndusInd Media till he is relieved of his duties. “I have expressed my desire to retire from active service due to my growing age and indifferent health,” Anand tells indiantelevision.com.

    Several senior executives of IndusInd Media have quit the organisation over the last two years. These include KV Seshasayee who was heading the conditional access system (CAS) project and was a board member, Rajiv Vyas who was the chief operating officer of IndusInd Media, and Ram Hingorani who was vice chairman of the company. Indus Media had made investments towards CAS, but this amount is stuck as there are still no takers for the addressable system.

    Anand was responsible for improving the health of the MSO and played a big role in improving collections from the ground. The relationship with the distributors also improved during his tenure.

    HTMT plans to have two debt-free listed companies with mirror shareholding. While information technology and telecom businesses will form part of the technology company, media including film content and cable TV distribution and broadband will be part of the new entity. In Fascel, which is a cellular service operator, HTMT has made a financial investment and is planning to sell its stake at the appropriate time.