Tuesday, 26th September, 2017

Snippets

After tax, Govt hints at uniform designation regime; CEO, CTO,CXO,CFO etc will now be covered under a common designation

10, Jul 2017 By @jurnoleast

Ushering in reforms in the corporate sector, Govt. today announced that it will push for a bill in the Parliament to introduce ‘one nation one designation’ in the country. All public and private companies will now do away with myriad of designations at the top level which makes it confusing as well as difficult for shareholders and general public to comprehend.

Speaking to Faking News, a source close the development said, “Yes it is true. CEO, CFO, CTO etc will no longer exist and the Govt will soon come up with one single designation called GSD (Good and Single Designation). A formal announcement will be made soon in this matter.”

Reacting to this news Sensex jumped 500 points. Markets reacted strongly after investors welcomed the move. Shares of a few visiting card companies fell drastically.

There were mixed reaction from the corporate sector with some questioning the timing of this move, while others saying that it will bring transparency in the sector. “Corporate sector is a game of fancy designations. Everyone wants to be the ‘Chief’ of something. There is  no accountability at all. I am sure that GSD will address that. What is more important is that those free riders who masquerade as top level management, will now find their cover blown off,” said Gurpreet Gurumurthy, CEO of a major IT company.

Whether or not GSD will cover political parties is something that the Govt. has not given any clear indication about. But it hasn’t ruled out the possibility either. “Though political parties don’t function as a company but they too have similar hierarchy. We are considering the possibility of GSD for political parties but it’s too early to comment on it at the moment,” said RS Prasad.

Congress has termed the move as fueled by political vendetta and said that with GSD the Govt is targeting Rahul Gandhi, who has been courting speculations over his elevation as the President of Congress Party.