MAM
Sheela Foam appoints Rakesh Chahar as deputy managing director
MUMBAI: Sheela Foam Ltd, a market leader in comfort and sleeping solutions in India, has appointed Rakesh Chahar as deputy managing director (Whole-time Director) with immediate effect. The appointment was announced at the Board of Directors’ meeting pursuant to the recommendation of the Nomination & Remuneration Committee. Mr. Chahar has more than three decades of robust institutional experience and leadership at Sheela Foam.
Sheela Foam, the owner of iconic brands Sleepwell, and recently acquired Kurlon Enterprises and Furlenco, is building its presence in different geographies at a steady pace. With its portfolio spread across heritage comfort solutions and new-generation tech-enabled lifestyle solutions, the company is heading to a pivotal stage of integrated growth in both Indian and foreign markets.
Chahar, who has been with Sheela Foam since 1990 and a Whole-Time Director since 2003, brings over 30 years of experience in scaling operations, building distribution strength, and delivering category growth. he has led transformational efforts that have solidified the group’s leadership status in polyurethane (PU) foam business. He has played a pivotal role in establishing Sleepwell as India’s most recognized and highest-selling mattress brand.
He has been the driving force to build Sheela Foam’s distribution muscle, establishing a robust network of distribution and retail partners across the nation – efforts that have greatly enhanced consumer reach and market share.
In his enhanced mandate, Chahar will lead the company’s growth strategy – to drive integrated operations, channel consolidation, and pan-India market reach. His leadership will also focus on expanding institutional and B2B verticals, while unlocking manufacturing and procurement synergies across the group’s production facilities.
Beyond his corporate responsibilities, Chahar also serves as Chairman of the Indian Sleep Products Federation (ISPF) – India’s first dedicated industry body for the mattress and sleep solutions sector.
Brands
Safex Group appoints Richa Malhotra as group chief financial officer
Former Standard Chartered executive to steer finance
NEW DELHI: Safex Chemicals has appointed Richa Malhotra as group chief financial officer, strengthening its leadership team as the company prepares for the next phase of expansion in specialty chemicals and global agrochemicals.
In her new role, Malhotra will lead the group’s financial strategy, capital architecture and governance framework as Safex scales operations across multiple verticals including branded formulations, specialty chemicals and contract manufacturing.
A chartered accountant and graduate of Shri Ram College of Commerce, University of Delhi, Malhotra brings more than two decades of experience in business finance, strategic planning, corporate banking and client management.
Before joining Safex, she served as executive director, financial markets at Standard Chartered, where she led teams across India and Sri Lanka and worked closely with large corporates, global subsidiaries and commercial banking clients. Her expertise includes capital structuring, treasury operations, risk management and financial markets led financing solutions.
Safex Group promoter director and joint managing director Piyush Jindal, said the appointment comes at a pivotal time for the company. “Safex stands at an inflection point as we build an integrated platform across branded formulations, specialty chemicals and contract manufacturing. Richa’s experience across global financial institutions will strengthen our financial discipline and help unlock value across the group,” he said.
Malhotra said she was looking forward to contributing to the company’s next chapter of growth. “Safex has built a strong reputation over 35 years with its focus on integrity, innovation and agricultural insight. I am excited to be part of the organisation as it expands its footprint in India and global markets,” she said.
The appointment comes as Safex continues to strengthen its financial foundations and scale operations internationally, positioning itself for future growth milestones.
