MAM
WPP appoints Roberto Quarta as chairman-designate
MUMBAI: WPP plc has appointed Roberto Quarta to its board as a non-executive director and chairman-designate. He will join the board on 1 January 2015 and will offer himself for re-election at the company’s Annual General Meeting to be held in June 2015. Subject to his re-election, he will be appointed chairman to succeed Philip Lader, who joined the board as chairman in 2001.
Quarta is chairman of Smith & Nephew plc, a FTSE 100 global medical technology company, and chairman of IMI plc, a FTSE 250 engineering business. He is also a partner at the private equity firm Clayton, Dubilier & Rice and a non-executive director at Spie SA. Previously, he was chief executive and then chairman of BBA Group plc, Rexel SA chairman and BAE Systems plc, Equant NV, Foster Wheeler AG and PowerGen plc non-executive director.
In the Company’s last Annual Report issued in April 2014, Lader announced his plan to step down as chairman at the close of 2014. The WPP board has requested that he continue until such time as Quarta steps down as Chairman of IMI plc.
Lader said, “Roberto brings to WPP extensive, diverse experience in corporate governance and global commerce. This completes our refreshment of the board, which over the last three years has seen the appointment of 10 internationally recognized business leaders from four continents and the phased retirement of long-serving directors.”
CEO Sir Martin Sorrell commented, “Following an exhaustive search, the Board has chosen Roberto to be its next Chairman, as his experience and background complement and will help develop WPP’s strategy in new markets, in new media, in data investment management and the application of technology and, last but not least, horizontality.”
Quarta commented, “It is a great honour to join the board of WPP, a global leader in its field and an outstanding success story in British business. I look forward to working with the Board to help the company as it continues to build leadership positions in the fast changing media markets.”
No disclosure obligations arise under paragraphs (1) to (6) of LR 9.6.13 R of the UK Listing Authority’s Listing Rules in respect of this appointment.
Full details of Quarta’s remuneration arrangements will be given in the Directors’ Remuneration Report 2014.
The transition in the chairman’s role will occur, if Quarta has resigned from the IMI board as anticipated, immediately at the close of WPP’s June AGM or thereafter upon such resignation.
Quarta will be appointed to serve as a member of the Nomination and Governance Committee and the Compensation Committee.
In the 14-year period Lader has served as chairman, WPP’s billings have grown from ?14 billion to ?46.2 billion, PBIT from ?378 million to ?1.583 billion, dividend per share from 3.75p to 34.21p, the dividend pay-out ratio from 13 per cent to 42 per cent. The shares have risen from 829p to 1313p, the market capitalisation from ?9.1 billion to ?17.3 billion and the number of employees (including associates) from 65,000 to 177,000.
Brands
Muthoot FinCorp names Arun Kumar COO & Harjit Singh Takkar chief distribution officer
Leadership hires to boost operations and widen pan-India reach
THIRUVANANTHPURAM: Muthoot FinCorp has strengthened its top deck with the appointment of Arun Kumar B as chief operating officer and Harjit Singh Takkar as chief distribution officer, sharpening its focus on scale, speed and service as it pushes into its next phase of growth.
The flagship financial services arm of the 138-year-old Muthoot Pappachan Group, popularly known as Muthoot Blue, is expanding both muscle and mindset. With more than 3,750 branches nationwide and its digital platform, the Muthoot FinCorp ONE app, the company is betting on tighter execution and wider reach to stay ahead in an increasingly competitive lending market.
Arun Kumar B steps in with nearly two decades of experience cutting across financial services, technology transformation and customer analytics. He previously worked with CreditAccess Grameen, where he led enterprise-wide technology and data strategy initiatives and played a pivotal role during a major merger in the microfinance space. His work spanned integrating operations and products while scaling lending and non-credit offerings such as insurance and pensions.
At Muthoot FinCorp, Arun will steer operational excellence and strategic growth initiatives, aligning teams and processes to deliver sharper efficiency across the business. A gold medallist from Anna University and a postgraduate from IIM Indore, he also holds certifications in design thinking, Blue Ocean Strategy and business analytics.
Harjit Singh Takkar takes on the newly created role of chief distribution officer, reporting directly to the chief executive officer. The position is designed to energise the company’s distribution engine and bring greater governance and agility across its branch network.
Takkar brings over 28 years of retail banking experience, having held senior leadership roles at IndusInd Bank, Bandhan Bank, Yes Bank and ICICI Bank. Known for scaling branch networks and building high-performing teams, he combines distribution expertise with governance depth as a qualified company secretary with a master’s degree in finance and control.
In his new role, Takkar will oversee branch business and distribution channels, with a clear brief to expand reach, lift productivity and reinforce the company’s pan-India presence.
Commenting on the appointments, Muthoot FinCorp Ltd. chief executive officer Shaji Varghese, said the company continues to invest in leadership as it scales. “Our purpose is to improve the financial well-being of the common man. As we grow, strengthening leadership across key functions is important to ensure consistency in execution and customer experience,” he said.
With complementary strengths in operations and distribution now in place, Muthoot FinCorp appears set to move from steady expansion to sharper acceleration, backed by people, process and technology working in concert.
