Succeeds Sudhir Mehta who led MSF for 8 years
Max Specialty Films (MSF), a business division of Max India Ltd, has appointed Jaideep Wadhwa as Chief Executive Officer. Jaideep will focus on profitably growing the business, achieving optimal scale and strengthening key customer relationships. He will report to Rahul Khosla, Managing Director, Max India. Jaideep will succeed Sudhir Mathur who successfully led MSF as Chief Executive Officer for 8 years, steering growth of five times in revenues, over three times in profits and establishing a market share of over 30% in the Indian Speciality Films category.
Sudhir, who retires on March 31, 2014, led MSF to grow domestically and expand in diverse international markets. In FY ‘13, MSF exported 30 percent of its production to South Africa, Middle East and Europe. It has a steady base of blue chip customers with its top 15 percent clients contributing nearly 70 percent of its sales. MSF operates at the higher value end of the market. While it has 11 percent of the installed BOPP capacity in India, it has a disproportionately high market share of 15 percent. The company has won many recognitions that endorse its innovation and quality orientation, including India’s most coveted packaging award, the India Star Award and the premier international packaging award, the World Star Award. The Company’s environment sensitivity won it the National Energy Conservation Award 2012 from Ministry of Power.
As India grows to become the 5th largest consumer market in the world by 2020, MSF will be a leading player in the speciality packaging film industry. Its current installed capacity is 52,000 tonnes per annum and its turnover for FY ‘13 was Rs 713 crore.
Speaking about the appointment, Rahul Khosla, Managing Director of Max India said, “I am delighted to welcome Jaideep to the Max family. His deep yet diverse expertise in specialized manufacturing businesses will be invaluable for Max Speciality Films. His track record of consistent and profitable growth will stand us in good stead for the growth, development and value creation that MSF is set to embark upon.”
Jaideep is a consummate professional with 27 years of experience in leading manufacturing businesses. He has held P&L responsibilities, managed business development, sales as well as manufacturing across India & China during his career. He last held the position of Director, Actis Advisors, Mumbai, intensively engaged in guiding and supporting the management teams at Actis’ investee companies to improve operations and optimise returns. Prior to joining Actis, he was President of Tomkins Plc’s Industrial & Automotive Businesses in India.
Commenting about his latest assignment, Jaideep Wadhwa said, “I look forward to being a part of the Max India family as there is a great alignment of culture and values between us. I believe this opportunity will allow me to build on a strong foundation and further enhance value.”
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