MAM
Sponsors jittery, as Covid casts a shadow over Tokyo Olympic 2020
New Delhi: As the countdown begins for the 2020 Tokyo Olympics, brands sponsoring the mega sports event are treading cautiously. The growing public opinion against the games has compelled brands to reconsider their move to go full throttle with their gaming-linked advertising.
Some Japanese corporates that are sponsoring the international event have even hired consulting firms to advise, whether to proceed with Olympic-themed marketing plans or limit their association with an event that could damage their brands, reported Financial Times. Consultants include Britain’s Kantar Group and Japan-based firms, Macromill Inc and Intage Holdings, as per the report.
The Olympic Games have evolved into one of the biggest marketing extravaganzas in recent times, allowing brands to reach out to global audiences across different platforms. The opportunity remains a lucrative one, despite all the uncertainties this time. Over 60 Japanese companies have together paid more than three billion $ to sponsor the Games this year. Sponsors have paid another $200 million to extend contracts after the Olympics were postponed last year, as per media reports.
There are 15 global giants with exclusive marketing rights under the Olympic Partners program, the highest level of Olympic sponsorship and each one is looking to make the most of the opportunity.
While a decision to cancel the games could be a hefty one, conducting the games amid the pandemic will not be easy either. Japan is battling a fresh surge of infections and it has left people disgruntled over the decision to go ahead with the event. There are imminent concerns about the event might trigger a potential health crisis, with local media calling for scrapping the event entirely.
If local polls are to be believed, most Japanese are now rooting for the postponement of the games yet again, fearing invasion by any new coronavirus variants that could put pressure on an already burdened healthcare system. With just two months left for the games, the country is also scrambling to ramp up its vaccination drive.
If the event goes ahead as per plan, the ongoing pandemic could make sure the event is a diminished one this year. There may not be any on-site brand events and big product launches may be muted, the engagement with the audience will be mostly online. The absence of enthusiastic fans in the stadiums will be felt quite evidently.
Toyota, the official mobility partner, has already expressed concerns over athletes becoming the target of people’s frustration over the event. However, Samsung, the communications partner, has recently gone ahead with the launch of its Galaxy S21 Olympics Games edition of smartphones.
For broadcast, NBCUniversal has announced its plans to broadcast 7,000 hours of Olympics coverage across NBC, USA, CNBC, NBCSN, and Peacock, among other properties. The US broadcaster will air live coverage of some events in 4K HDR. “We are going to deliver the most comprehensive – and accessible – coverage for any sports event in history,” the network said in a statement.In India, Sony Pictures Networks India (SPN) has the broadcast rights for the event.
While the opportunity to associate with the games is a lucrative one, it remains to be seen how brands are going to pivot to the changing realities and capitalise on it amid the pandemic.
The 2020 Tokyo Olympics are scheduled to be held from 23 July to 8 August.
Brands
YES Bank hands the keys to SBI veteran Vinay Tonse as it bets on a new era
Former SBI managing director appointed as YES Bank’s new MD and CEO
MUMBAI: YES Bank is done rebuilding. Now it wants to grow. The private sector lender has appointed Vinay Muralidhar Tonse as managing director and chief executive officer-designate, with RBI approval secured and a start date of April 6, 2026 confirmed. The three-year term signals the bank’s intent to shift gears from crisis recovery to full-throttle expansion.
Tonse, 60, is no stranger to scale. Most recently managing director at State Bank of India, he oversaw a retail book of roughly $800bn in deposits and advances, one of the largest in the country. Before that, he ran SBI Mutual Fund from August 2020 to December 2022, a stint that saw assets under management surge from Rs 4.32 lakh crore to Rs 7.32 lakh crore across market cycles. Add stints in Singapore and four years leading SBI’s overseas operations in Osaka, and the incoming chief arrives with a genuinely global CV.
His academic grounding is equally solid: a commerce degree from St Joseph’s College of Commerce, Bengaluru, and a master’s in commerce from Bangalore University.
The appointment follows an extensive search and evaluation process by the bank’s Nomination and Remuneration Committee. NRC chairperson Nandita Gurjar said the committee unanimously backed Tonse, citing his leadership track record, governance credentials and ability to drive the bank’s next phase of transformation.
Non-executive chairman Rama Subramaniam Gandhi was unequivocal. “I am certain that Vinay Tonse, with his vast experience as a senior banker, will propel YES Bank to its next phase of growth,” Gandhi said, adding that the bank remains focused on strengthening its retail and corporate banking franchises and expanding its branch network.
Rajeev Kannan, non-executive director and senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s experience across retail, corporate banking, global markets and asset management positioned him well to lead the lender. SMBC said it looks forward to working with Tonse and the board as YES Bank pursues its ambition of becoming a top-tier private sector lender anchored in strong governance and sustainable growth.
Tonse succeeds Prashant Kumar, who took the helm in March 2020 when YES Bank was in freefall following a severe financial crisis, and spent six years painstakingly stabilising the institution, rebuilding governance and restoring operational scale. Gandhi was generous: “The bank remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES Bank is today.”
Tonse, for his part, struck a purposeful note. “Together with the board and my colleagues, I remain deeply committed to creating long-term value for all our stakeholders,” he said, pledging to build on Kumar’s foundation guided by his personal motto: Make A Difference.
Beyond the balance sheet, Tonse played cricket at college and club level and represented Karnataka in archery at the national championships — sports he credits with teaching him teamwork, situational leadership, discipline and focus. In quieter moments, he reaches for retro Kannada music, classic Hindi songs, and the crooning of Engelbert Humperdinck, Mukesh and Kishore Kumar.
YES Bank has its steady-handed rebuilder in Kumar to thank for survival. Now it has a scale-obsessed growth banker at the wheel. The next chapter starts April 6.
