MAM
V-Mart Retail appoints Aakash Moondhra as chairman
Mumbai: Retail store chain V-Mart Retail Ltd has announced the appointment of Aakash Moondhra as chairman of the company. The company also announced a strategic change in its leadership structure, with the role of chairman and managing director now being split and Moondhra (independent director) being designated as chairman, while Lalit Agarwal would continue in his role as managing director.
Moondhra is PayU’s global CFO and continues to remain an independent director on the board of VMart. “I am thankful to the Board for posing the confidence in me and I will try my best to contribute in making VMart an even better organisation than it already is and I look forward to this exciting journey together with the fellow board members,” Moondhra said on his appointment. “The purpose behind this role separation is not merely with related compliance; rather, it is to ensure an even better and balanced governance structure and effective guidance to the management.”
Founded in 2002, V-Mart is an omnichannel retail store chain offering fashion apparel, footwear, home furnishings, general merchandise, and Kirana. Primarily focusing on tier 2 and 3 cities, V-Mart is present pan-India with 368 stores in 26 states, the company follows the concept of ‘value retailing’ for the affordable fashion of the rapidly-expanding middle class, stated the brand.
“The appointment of Aakash as the chairman will herald a new era of corporate governance in the company,” said Lalit Agarwal. “Aakash has been a torchbearer of ethics and governance and this indeed is a big change for a so far promoter-led company which is now embarking on its new charter of growth, ably supported by a deep-rooted professional and independent governance culture.”
“In the long run, this diversion of roles would surely benefit all stakeholders in our value chain. It is a key to promote overall Board independence while enabling me to focus even more deeply on driving company growth, value creation for all our shareholders, and day-to-day company management,” he further said.
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Buffett bets on The New York Times, cuts Amazon stake
Berkshire invests $352 million in NYT, trims tech, and backs insurance, energy and consumer stocks.
OMAHA: Warren Buffett is famously a creature of habit, but his latest portfolio shake-up suggests even the world’s most patient investor knows when to change the channel. In a move that has sent the media world into a frenzy, Berkshire Hathaway has officially checked into The New York Times while largely checking out of Amazon.
Buffett’s firm snapped up roughly 5.1 million shares in The New York Times Company, a stake valued at a cool $352 million. The Buffett effect was immediate: shares in the publishing giant jumped more than 10 per cent as investors scrambled to follow the leader.
While Buffett offloaded his traditional local newspapers back in 2020, this isn’t a nostalgic trip to the printing press. The New York Times is now a digital powerhouse, fueled by a buffet of subscriptions covering everything from breaking news to Wordle and recipes. It seems the sage of Omaha still has an appetite for businesses with pricing power and a loyal following.
Berkshire slashed its holdings in Amazon by nearly 75 per cent during the final quarter of the year. Once a rare foray into the world of big tech for Buffett, the firm now holds a relatively modest 2.3 million shares. The pruning did not stop there, as other household names also saw a haircut. Apple was reduced to a 1.5 per cent position, while Bank of America was trimmed to 7.1 per cent, signalling a broader pullback from some of its large financial and technology bets.
So, where is the money going? It appears Buffett is heading back to basics, favoring sectors that can weather a storm. Berkshire boosted its positions in Chubb, doubling down on the steady world of insurance; Chevron, fueling up on energy; and Domino’s Pizza, a classic consumer bet that delivers even when the economy doesn’t.
By pivoting toward resilient industries and subscription-heavy media, Berkshire is returning to its roots: finding companies that people simply cannot live without, whether they are hungry for a slice of pepperoni or the morning headlines.
