ITC director Feroze R Vevaina has put in his paper. Vevaina was not been keeping well ever since the Enforcement Directorate raided ITC offices and questioned key directors. In fact, soon after the ED grilling Vevaina had to be hospitalised in Mumbai for a heart bypass. Reportedly, Vevaina a key board member of ITC has cited health reasons for his stepping down.

Vevaina was responsible for the ITC group's foray into financial services business, ITC Classic. Earlier he also supervised the working of ITC Global, the Singapore based trading subsidiary.

Ratan Tata fellowship

The post doctoral Sir Ratan Tata Fellowship for the current year has been awarded to Dr Madhura Swaminathan. This is the first fellowship to be awarded. The Ratan Tata Foundation at the London School of Economics and Political Science(LSE ) had invited applications from post doctoral scholars in the social science discipline with experience of research on the Indian subcontinent.

Out of the 41 applications received only 26 were listed. Dr Swaminathan will work on `Food Security and the System of Public Distribution on Food in India' which begins on October 1 and will be based at the Asia Research Centre at LSE. She is expected to complete the research within a period of six to eight months. Besides, she is a gold medalist from Delhi University and a Rhodes scholar. She is currently a associate professor at the Indira Gandhi Institute of Development Research in Mumbai.

RCF's shuffling

Rashtriya Chemical & Fertilizers have effected changes in its marketing department. Former deputy general manager, T R Raghuraman will be posted in Mumbai to look after the marketing operations of North, South and East zones. While chief marketing manager, S. Thangaraj will assume the post of deputy general manager and oversee Southern states from the zonal office in Bangalore.

Memani's merit

K N Memani, country managing partner of SR Batliboi & Co, has been taken over as member of the International Council of Ernst & Young Worldwide. Memani is also chairman of Ernst & Young's Indian outfit. Memani is the first representative from an Indian member firm to be taken as member of the international council of Ernst & Young. The Council is responsible for running the business and administration of Ernst & Young Worldwide having a turnover of $8 billion from operations in 134 countries.

Says Memani: "The step demonstrates the confidence not only in me but also in India's growth potential and Ernst & Young's commitment to encourage investments in India through its clients."

Photo exhibition

Lindsay Hebberd , an award winning photojournalist will be exibiting her photographs at the Oberoi in Mumbai from July 4 to 6. Sponsored by Bank of America, the exhibition forms a part of a series of events that Oberoi Hotels is sponsoring to commemorate 50 years of India's independence. Says Lindsay, ``India is perhaps the most misinterpreted country in the world.

Very little of its beauty, its culture, its contribution to civilisation is projected to the outside world. What I really want to project is the incredible diversity, the spirit, the essence, the underlying unity of this vast nation''. Her work is widely published in books, magazines, calendars, posters and also the internet.

Lindsay was among the 40 photographers who contributed to a commemorative book - Thailand - Seven Days in the Kingdom, released on the occasion of the 60th birthday of the King.

Park mindset

Understanding the mindset of the Indian consumer is tricky business. For the consumer durable industry where sales are stagnating after a good year, it is exasperating. The MNC's which are looking to increase their market share quickly, the faster they come close to predicting consumer buying, the better it is for them. Says Samsung Electronics' India managing director, JM Park : "The Indian consumer looks at ownership of a product, quality and affordability all in tandem before making a purchase.

The consumer wants features at low prices. Our market failure rate is at a one per cent that of the industry is at five per cent. The market failure rate describes the number of times a consumer calls the company after purchasing the product. Since our rate is below the industry standard our products are superior in quality than others says Park.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.