MAM
Apple India’s three senior executives quit
MUMBAI: Adding to the turbulent journey of telecom giant Apple in India, three senior executives have decided to quit the company. Apple India head of national sales and distribution Rahul Puri, national sales head of telecom Manish Sharma and head of operator business and iPhone sales Jayant Gupta are all set to leave the company.
The senior sales executives are said to be leaving Apple as the company is struggling to sell its products in India and with further arrangements made to its distribution system by the company’s new head of India operations Michel Coulomb.
Coulomb wants to discontinue three of its distributors in India by March 2019 and continue with only two national distributors, out of the five the company has.
Even though India is the world’s second largest smartphone market, the iPhone maker is struggling with sales in India and accounts for only two per cent market share in the country. In 2017, Apple managed to sell only 3.2 million iPhones.
Michel has been reported to be struggling with his new job in making business relationships in the Indian market as it continues to remain a market where people still prefer/can afford a mid-range handset.
Apple’s new India chief Michael Coulomb is taking steps to change Apple’s pricing and sales strategies in India. The new India head has decided on blacklisting and cutting off supply to small scale retailers that buy the products from wholesalers to eventually sell it at a discounted price.
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.
