
TÜV SÜD Appoints Interim Leadership Following CEO Transition
Ishan Palit brings over three decades of experience at TÜV SÜD, having joined the company in 1994 to establish its operations in India. He later served as CEO of the Asia Pacific region based in Singapore, and in 2011, took charge of the global Product Service Division. Since 2017, he has served as Chief Operating Officer and member of the Board of Management, helping to shape TÜV SÜD's global strategy and operations.
Sabine Nitzsche joined TÜV SÜD as Chief Financial Officer (CFO) and member of the Board of Management in March 2025. She brings over 30 years of international leadership experience in finance, strategy and operations in the high-tech and automotive industry. Before joining
TÜV SÜD, she served as CFO and Executive Board member at Vitesco Technologies AG. She has also held senior positions at Infineon Technologies AG, including CFO of Infineon's Automotive Division, and EMEA CFO at GlobalFoundries.
"We are very pleased that Ishan and Sabine will oversee the interim management of TÜV SÜD during this transition," said Frank Hyldmar, Chairman of the Supervisory Board of TÜV SÜD AG. "Ishan is a seasoned TÜV SÜD senior executive with deep knowledge of our business and strong global leadership experience. Sabine brings a proven track record as CFO across multiple multinational enterprises. Together, they form a strong leadership team as we work towards appointing a long-term CEO."
TÜV SÜD remains focused on delivering value to its customers, employees, and partners, while building on its strong foundation and executing its long-term strategy.
Hashtag: #TÜVSÜD
The issuer is solely responsible for the content of this announcement.
About TÜV SÜD AG
Founded in 1866 as a steam boiler inspection association, the TÜV SÜD Group has evolved into a global enterprise. Around 30,000 employees work at over 1,000 locations in about 50 countries to continually improve technology, systems and expertise. They contribute significantly to making technical innovations such as Industry 4.0, autonomous driving and renewable energy safe and reliable. tuvsud.com
TÜV SÜD AG
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


The National
4 hours ago
- The National
In the fight against obesity and diabetes, the UAE's new sugar tax policy could be a handy arrow in its quiver
The UAE's decision to switch from a fixed tax on sugary drinks to one that depends on the sugar content per 100 millilitres is a positive step in the fight against obesity and diabetes. Embedding such interventions in holistic approaches to public health is equally important, as humans will always struggle with the innate attractiveness of carbohydrates. While there are a number of ways to induce changes in people's behaviour, economists will invariably suggest using prices. In the case of convincing people to consume less sugar, that means applying a tax that makes sugar-laden commodities more expensive to purchase, also known as a 'sin tax'. This straightforward principle can be applied in different ways. The nation's leadership has long been using a holistic strategy to address the complex problems associated with poor health choices The most straightforward is applying a tax to goods that have high sugar content, which is the approach that the UAE has taken – and many other countries took in the past. The key advantage of this approach is administrative simplicity: authorities need only to determine whether a good is subject to the tax, and then to apply it. One of the most salient applications of this method is cigarettes, which cost consumers a lot more to buy than the production cost due to steep excise duties that governments around the world levy. One of the potential drawbacks to this approach, however, is that it creates an incentive for producers to redefine what constitutes a unit of the good to minimise the tax's impact. This dynamic is illustrated by the 18th-century stamp duty that the British government imposed on newspapers based on the number of pages in an issue. Editors responded by increasing the size of each page and cutting down the number of pages, spawning what is now referred to as the unwieldy 'broadsheet' newspaper. In the context of modern sugary drinks, the analogous process is producers increasing the volume of sugar in drinks either by upping the concentration or simply filling the container with more liquid. Thus, while the tax does make some people less likely to purchase sugary drinks, those who continue to purchase them may end up consuming more sugar than they would have done absent the tax. The result is a muted and potentially indeterminate net effect on the societal consumption of sugar. Governments are aware of this possibility, and some – such as Mexico and the UK – have responded by applying a tax that depends proportionately on the volume of sugar supplied in a unit of the good, rather than the binary (on-off) form that can motivate producers to increase sugar concentrations. This closing of the loophole follows in the footsteps of the highly successful application to petrol. In the earlier part of the 20th century, vehicles were taxed at a flat rate. This created an incentive to purchase bigger cars, and did not dissuade people from driving more since the tax would be paid whether the car stood stationary in your driveway or travelled 100,000 kilometres a year. Once states transitioned towards taxing petrol proportionately, drivers now had an incentive to buy smaller cars, and to use their cars less, switching to walking, cycling and availing of public transport to economise on travel expenditure. This can clearly be seen when comparing the large cars that people own and operate in a low fuel tax environment with the petite ones seen in high fuel tax countries. The UAE is aiming for something analogous to occur in the case of sugary drinks. One of the associated challenges will be administrative: measuring sugar content precisely and ensuring that producers do not fraudulently report the figure require significant resources, and reflect one of the reasons why some governments continue to prefer the flat taxes. The more serious challenge that policymakers are likely to face is that the consumption of sugary drinks makes a small contribution at best to the adverse societal outcomes they are looking to abate – obesity, diabetes, heart disease and so on. After all, several other dietary factors also play a role, as do lifestyle ones such as exercise and sleep patterns. Yet, this is a step in the right direction towards addressing some of the critical public health challenges of our time. And so, the UAE government is correct in its decision to avoid the 'drop in the bucket' fallacy, whereby people defeatedly avoid taking small steps because they believe that the impact will be negligible, even though big results are typically built on accumulated micro efforts. The nation's leadership has long been using a holistic strategy to address the complex problems associated with poor health choices, and there is no doubt that every little helps, including this sugar tax.


Zawya
8 hours ago
- Zawya
Shares slip as investors look to earnings, tariff talks
LONDON - European shares fell on Tuesday, hit by mixed corporate earnings and anxiety over tariff negotiations between the U.S. and its trading partners, while the euro held steady. The Euro STOXX 600 index extended losses during morning trading and was last down 0.6%, with bourses in Germany and France losing 1.1% and 0.8% respectively. Among the big decliners were chemical stocks which shed 2% as Dulux paint maker Akzo Nobel lost 5.4% after lowering its core profit outlook for 2025. Earnings from firms including SAP and UniCredit were also in focus. Investors were also following tariff talks ahead of Washington's August 1 deadline, with the European Union exploring a broader set of possible countermeasures against the U.S. as hopes for an acceptable agreement fade. The euro was steady at $1.1689 after rising 0.5% on Monday, though still away from the near four-year high hit at the start of the month. The single currency is up 13% this year as investors looked for alternatives to U.S. assets bruised by tariff uncertainties. Its performance is closely monitored for its impact on profits in the euro zone's export-reliant economy. "The euro's ability to maintain preference over the dollar amid tariff tensions will depend on the extent of any escalation and whether the EU emerges as a relative loser while other countries secure significant deals with the U.S.," ING analysts wrote in a note to clients. Wall Street futures were marginally down. The benchmark S&P 500 and the Nasdaq closed at record highs on Monday. Investors await results this week from Wall Street giants Alphabet and Tesla, as well as European heavyweights LVMH and Roche, as uncertainty over tariffs clouds the outlook. Earlier, Asian share markets drifted lower after scaling a near four-year peak. MSCI's broadest index of Asia-Pacific shares outside Japan hit its highest since October 2021 but finished down 0.4%. The index is up nearly 16% this year. Japanese markets returned after a holiday on Monday following the weekend's election where the ruling coalition suffered a defeat in upper house elections, although Prime Minister Shigeru Ishiba vowed to remain in his post. The yen rallied 1% on Monday, recouping some of the losses from past weeks and was flat at 147.43 per dollar. FED INDEPENDENCE The dollar index, which gauges the unit against six other key currencies, was also flat at 97.849. Rumblings around the Federal Reserve's independence and whether U.S. President Donald Trump will fire Fed Chair Jerome Powell have kept investors on tenterhooks in recent weeks. U.S. Treasury Secretary Scott Bessent said on Monday the entire Federal Reserve needed to be examined as an institution and whether it had been successful. The Fed is widely expected to hold rates steady in its July meeting but might lower rates later in the year. Market focus will be squarely on Powell's impending speech on Tuesday for clues about when the Fed might ease policy. Brent crude futures fell 0.9% to $68.56 a barrel, while U.S. West Texas Intermediate crude slipped by the same amount to $66.59 per barrel. (Reporting by Tom Wilson in London and Ankur Banerjee in Singapore. Editing by Mark Potter and Bernadette Baum)


Khaleej Times
8 hours ago
- Khaleej Times
France's Sanofi to acquire biotech firm Vicebio for $1.15 billion
French pharmaceuticals company Sanofi said on Tuesday it would acquire British private biotechnology firm Vicebio for a total of $1.15 billion, expanding its respiratory vaccine portfolio. Following the acquisition, Vicebio's non-mRNA candidate vaccine for treating respiratory syncytial virus (RSV) and human metapneumovirus (hMPV) will be added to Sanofi's range. The Vicebio deal includes a potential milestone payment of up to $450 million based on development and research achievements, and is expected to close in the fourth quarter of this year. Sanofi will also obtain "Molecular Clamp" technology aimed at enabling quicker development of fully liquid combination vaccines that can be stored at standard refrigeration temperatures, eliminating the need for freezing or freeze-drying. The British company is the latest in a string of acquisitions by Sanofi, which recently finalised an up to $9.5 billion deal for U.S.-based Blueprint Medicines Corporation. Sanofi said that the acquisition will not impact its annual guidance.