Mr. Hemant Nerurkar, Chairman of the Board is retiring on October 20, 2023, upon the expiry of his second term. The Board of Directors at its meeting held on October 17, 2023, decided to appoint Mr. Sundaram as Chairman succeeding Mr. Nerurkar. Mr. Sundaram has been serving as a Non-Executive and independent Director at Crompton since 2015.
Mr. Sundaram has been on the Board of the Company since 2015 and has served as the Chairman of the Audit Committee and Risk Management Committee since its inception. The Board acknowledged the extensive contribution of Mr. Nerurkar in helping shape Crompton Greaves Electricals.
The Board also inducted two noted industry veterans, Mr. Anil Chaudhry and Mr. Sanjiv Kakkar, formerly with Schneider Electric and Unilever respectively, as Non-Executive Independent Directors, with effect from October 17, 2023, for a first term of five years. This is subject to the approval of the shareholders.
Mr. Sundaram has been serving as a Non-Executive and independent Director at Crompton since 2015.
With over 34 years of invaluable experience at one of the country’s top FMCG companies – Hindustan Unilever Limited, he brings a wealth of knowledge and expertise to the organization. He currently holds the position of Non-Executive Vice Chairman at TVS Capital Funds Ltd.
He also currently serves as an independent director on the boards of Infosys, GSK Pharma India, and Schneider Electric.
Mr. Sundaram’s outstanding contributions have also earned him prestigious accolades, including the “CFO of the Year for FMCG Sector” award by CNBC TV18 in 2006 and 2008. In addition, he was honored as the “Best Independent Director in 2019” by the Asian Centre for Corporate Governance and Sustainability in December 2020.
Mr. Anil Chaudhry is the former CEO and managing Director of Schneider Electric India Pvt. Ltd (“SEIPL”) and President of Schneider’s India Business.
Schneider Electric is a global leader in digital automation and energy management. Mr. Chaudhry was instrumental in the acquisition of L&T Electrical & Automation Division by SEIPL making the combined entity as India’s largest Low Voltage Switchgear company.
With over 40 years of global leadership experience in management, operations, sales, strategy, and business development, he has a strong commitment to energy efficiency, sustainability, climate change, access to energy, and skill development.
Mr. Chaudhry is dedicated to implementing innovative techniques to provide top-tier solutions and services to customers. He is also a passionate advocate for diversity and inclusion, championing related initiatives throughout his career.
Mr. Sanjiv Kakkar, former Executive Vice President of Unilever, heading North Africa, the Middle East, Russia, Ukraine, Turkey, and the Central Asia Region. He is a distinguished leader with 38 years of experience.
Sanjiv’s career began in India with Sales and Marketing assignments and he joined the Board of Hindustan Unilever Ltd., India, as Executive Director – Foods, followed by Executive Director – Customer Development.
He thereafter moved on to head Unilever’s business for Russia, Ukraine, and Belarus followed by regional assignments as EVP – Unilever. He has transformed one of Unilever’s largest clusters into one of its fastest-growing and most profitable regions.
He was the Founder Chairman of the Advertising Business Group, Middle East, Dubai, and a Board Member for the International Chamber of Commerce, Dubai, nominated by the Ruler of Dubai.
Moreover, Forbes recognized him as the top Indian business leader in the Middle East in 2018. Currently, Mr. Sanjiv Kakkar runs an Advisory Service to help founders and CEOs unlock their business potential.
Promeet Ghosh, Managing Director & CEO, Crompton Greaves Consumer Electricals Ltd. said, “I would like to extend heartfelt gratitude to Mr. Hemant Nerurkar, Chairman, for his immense contributions to the Board. He has been instrumental not only in providing strategic direction but also in moulding Crompton into a board-led and professionally managed Company.”
“I am thrilled with Mr. Sundaram succeeding Mr. Nerurkar as the Chairman of the Board. He has played a pivotal role on the Board of the Company since its inception. I am also excited to welcome our two new Directors, Mr. Anil Chaudhry, and Mr. Sanjiv Kakkar, to the Crompton family. Their wealth of experience and exceptional track records in the industry will add tremendous value to our organization”, Promeet Ghosh added.
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