MAM
GroupM appoints new CFO for South Asia, promotes Parameshwar, Modi
MUMBAI: GroupM has hired Ashoke Sengupta as its CFO for South Asia. Sengupta, who joins GroupM from Microsoft, where he was the head of corporate finance, takes over from Choodamani Parameshwar.
Sengupta brings in extensive experience in managing finance for FMCG (P&G) as well as services sector (Reuters and Microsoft India). He will be responsible for finance and administration for all GroupM companies in the four countries of South Asia. GroupM in South Asia comprises its three media agencies – MindShare, Maxus and mediaedge:cia -, BroadMind, M One, Dialect, ATG, MCI and Out of Home.
Parameshwar, on the other hand, has moved into the crucial internal audit area – as WPP focuses more strongly than ever in ensuring that all its operating companies remain SoX compliant at all times. He will be working directly with Asia Pacific CFO George Yeoh for this role. Apart from this, he continues to oversee the finance and admin function at mediaedge:CIA India.
Another significant development is that GroupM India national finance director Prashant Modi has been promoted and relocated to Singapore in April. Modi, who currently reports to Parameshwar will now be director, finance and admin. for South East Asia. Modi will handle finance and admin for Malaysia, Thailand, Indonesia, Vietnam and Philippines, apart from Singapore. He will work with MindShare CEO South East Asia Nick Waters. Modi has been a key contributor to managing the spectacular growth of GroupM’s specialist units, and has developed market leading practices in managing finance for consulting, entertainment and BTL areas.
GroupM South Asia is increasingly being seen as a powerhouse of talent by the global company, and Modi is the tenth manager to be promoted and moved to operations in the network, outside of India in the last few months.
As a direct result of Modi’s promotion, Sridhar Ramasubramanium, who is currently head of commercial operations at MindShare Fulcrum, will take over as national finance director. Ramasubramanium has built and run highly effective commercial and operations team to manage the HLL business, and was being developed to move to this position over the last one year.
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.
