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Dina Powell McCormick joins Meta as president and vice chairman
CALIFORNIA: Meta has brought in a heavyweight from the worlds of finance and public policy, with Dina Powell McCormick joining the company as president and vice chairman, effective immediately.
Powell McCormick is no stranger to Menlo Park. She previously served on Meta’s board and has been closely involved as the company pushes deeper into frontier AI and the race for personal superintelligence. Her new role comes as Meta scales up what it calls the backbone of the next decade of computing, from vast data centres and energy systems to global digital connectivity.
Announcing the appointment, Meta founder and CEO Mark Zuckerberg said Powell McCormick’s mix of global financial expertise and international relationships makes her “uniquely suited” to guide the company through its next phase of growth.
As part of Meta’s management team, she will help shape overall strategy and execution. A key focus will be ensuring Meta’s multi-billion-dollar investments in compute and infrastructure stay on track, while also delivering economic benefits to the communities where the company operates. She will also lead efforts to forge new strategic capital partnerships and expand Meta’s long-term investment capacity.
Powell McCormick brings more than 25 years of experience across global finance, national security and economic development. She spent 16 years at Goldman Sachs, rising to partner and serving on the firm’s management committee. There, she led its global sovereign investment banking business and helped drive high-profile initiatives such as 10,000 Women, 10,000 Small Businesses and One Million Black Women.
Her public service record spans two US administrations. She served as deputy national security advisor under president Donald Trump and earlier worked as a senior White House adviser and assistant secretary of state under president George W. Bush. Most recently, she was vice chair, president and head of global client services at BDT and MSD Partners.
With Powell McCormick stepping into a senior operational role, Meta is signalling that its next growth push will be as much about financial muscle and global partnerships as it is about code and algorithms.
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Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI: Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
