MAM
Nike president & CEO Mark G. Parker joins Walt Disney board
MUMBAI: The Walt Disney Company Board of Directors has elected Nike, Inc. president and CEO Mark G. Parker as a director, effective immediately.
“As CEO of Nike, Mark is widely recognised for driving the stellar growth of an industry-leading brand. His keen insight into consumers and his broad experience in international markets make him a great fit for the Disney Board,” said Disney chairman and CEO Robert A. Iger.
“I’m honored to be named a director of Disney. For decades, Disney has delivered truly elevated consumer experiences globally, inspiring generations with creativity and vision. I look forward to working with this team as the company continues to set its sights on the future,” Parker added.
Parker will stand for election along with the company’s other directors at Disney’s annual meeting on 3 March in Chicago. Parker’s appointment brings total membership on the Disney Board to 12.
Parker has served as CEO and president of Nike since January 2006. He joined Nike as one of the company’s first footwear designers in 1979 and during his 37-year tenure he has been at the center of innovation, bringing pioneering concepts and engineering expertise to vital roles such as vice president of consumer product marketing, vice president of global footwear and co-president of the Nike Brand. He has led the way for Nike Air and a multitude of industry-breakthroughs in product design. In addition to helping lead the continued growth of the Nike brand, Parker is responsible for the growth of the company’s global business portfolio, which includes Converse Inc. and Hurley International LLC.
Brands
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.
