New appointments

Hitherto Executive Vice President and Head of Operations, Volvo CE, Patrick Olney has been appointed President and CEO of Volvo Construction Equipment. Olney has extensive experience spanning 17 years in the construction equipment industry; with 10 years in senior management roles within Volvo CE. He holds an Honours in Business Administration from the Ivey School of Business, University of Western Ontario, London. CK Vasudevan has been appointed as Managing Director of Residency Projects & Infratech Ltd (RPIL) for a period of five years with effect from April 01, 2011. Vasudevan was formerly the Managing Director of Valuemart Info Technologies Ltd, a BSE and BgSE listed firm. He is also the promoter of Valuemart Retail (India) Ltd, a Bengaluru-based B2C and retail solutions firm. He has over 25 years of experience in banking, wealth management, corporate finance and restructuring. RPIL also announced that the name of the company is being changed to ‘Valuemart Retail Solutions Ltd’ subject to shareholders and ROC approval. The company plans to diversify into the retail solutions space and will offer B2C solutions, smartcards and web-based solutions for retail and financial services sectors.