Deven Sharma to step down as S and P president

   Aug 23, 11:19 am

Washington, Aug 23 (ANI): Indian-origin American, Deven Sharma, President of Standard and Poor is to step down from his post next month, and leave the company by the end of the year, amid outrage over the company's downgrading of the United States' credit rating.

Sharma's plans to resign come as the ratings agency is under pressure on several fronts, including an inquiry by the Justice Department into its ratings of sub prime mortgage securities, and a push by activist investors to break up its parent company, McGraw-Hill, the New York Times reports.

Sharma, 55, will step down on September 12, but will remain with the company through the end of the year to help oversee McGraw-Hill's review of its businesses, the paper said.

He will be replaced by Douglas Peterson, who is currently the chief operating officer of Citibank, the banking unit of Citigroup.

"We are pleased to welcome Doug to the important role of president of Standard and Poor's as it continues to build on the enhancements of recent years and accelerates global growth," Harold McGraw III, McGraw-Hill's chief executive, said in a statement.

"As we welcome Doug, I particularly want to thank Deven for his dedicated leadership of S and P, he added. (ANI)

Android co-founder Andy Rubin leaves Google to lead 'Incubator' Oct 31, 3:51 pm
Washington, Oct 31 (ANI): Google's Andy Rubin, the founder of the most widely used operating software Android, is leaving the search engine giant to lead a startup named Incubator.
Full Story
Xiaomi becomes third largest smartphone maker in just three years Oct 31, 3:51 pm
Washington, Oct 31 (ANI): Xiaomi Corp has made it to the top-three smartphone making companies in just three years of launch, outselling rivals with low-budget smartphones packed with high-end features.
Full Story
LinkedIn's Q3 sales beat estimates with 568M dollar sales Oct 31, 3:51 pm
Washington, Oct 31 (ANI): LinkedIn reported its results for the third quarter of the year, beating the estimates on sales 568 million dollars, up 45 percent compared to a year ago and sales of 393 million dollars and non-GAAP earnings per share of 0.52 dollar.
Full Story
Samsung to reform smartphone product line post dire profit report Oct 31, 3:51 pm
Washington, Oct 31 (ANI): Samsung has reported that its operating profit has come down 60 percent, and income from sales is down by 20 percent, leading the company to fundamentally reforming its smartphones.
Full Story
Comments

LATEST STORIES
TOP VIDEO STORIES
PHOTO GALLERY