MAM
Vivek Sharma steps down as MD, Panasonic Life Solutions India
MUMBAI: Panasonic Life Solutions India announced that Vivek Sharma, the company’s managing director, will step down from the operational leadership on 30 September 2020.
Sharma with his commitment to excellence and inimitable leadership style, has led Panasonic Life Solutions India (PLSIND) to great success. Under his leadership the Company has had a tremendous growth journey over the last 3 years. PLSIND’s revenue grew from Rs 22.9 billion in 2016-17 to approximately Rs 33.9 bn in 2019-20. Similarly, the operating profit more than doubled from Rs 2.65 billion in 2016-17 to Rs 5.8 billion in 2019-20. The Company’s sales grew at a CAGR of 15 per cent and operating profits at a CAGR of 22 per cent, during this period. This helped PLSIND emerge as the fastest growing Indian Fast Moving Electrical Goods (FMEG) company, both in terms of sales and profitability. A reflection of this stellar performance was when, earlier this year, Forbes magazine rated Anchor as the No. 1 FMEG brand in the country.
It was during Sharma’s tenure that the company took a certain far-reaching and path breaking initiatives, like moving from a dealer driven channel to a multi-channel, distributor led GTM strategy that also included a strong participation in alternate channels like E-com, MFR, Exclusive Brand Outlets, etc. This was preceded not only by the setting up of separate sales teams for B2C and B2B/B2G segments, but also introducing exclusive business verticals for the Power, Lighting and Indoor Air Quality businesses.
During this period significant expansions of the company also took shape on the industrial and SCM side, including setting up of manufacturing units through an expansion of the vendor base across India, in addition to the mega project coming up at a 35-acre land parcel in Sri City, Andhra Pradesh. The brand’s presence in markets across the country was also strengthened with a robust retail strategy, straddling over 500, Tiers 1-5 markets in India.
Having realized the critical importance of brand equity in the twenty-first-century business, Sharma decided to invest in brand building. Partnering with cutting-edge advertising, media and digital Agencies, during his tenure, the marketing team led the development of a new communication platform for Brand Anchor ‘Naye India Ke Badhte Load Ke Liye’. To connect with the contemporary and aspirational Indian consumers the campaigns that have been undertaken for the last two years have led to the brand be re-evaluated by the trade and the consumer. These initiatives will help the brand sustain the momentum in the years to come.
With an outstanding career spanning over 35 years, Mr. Sharma is considered an industry expert. He has honed his iconic skills at speedily ramping up operations and nurturing them into sustainable, profitable and strong businesses. Mr. Sharma is an effective coach, trainer and public speaker having made his presence felt, through lectures and presentations, at various prominent educational institutions and industry platforms.
Panasonic Life Solutions India MD Vivek Sharma said, “These last 3 years have been a journey of immense satisfaction. It is a befitting way to end a career spanning over three and a half decades. I have had the privilege of working in the FMEG/FMCD industry for more than 35 years and leading Panasonic Life Solutions India has been the highlight of my career. It has been a pleasure partnering all the stakeholders both internal and external to re-invent the Company and set it on a higher growth trajectory by focusing on the employees and the consumers while enhancing skills and competencies across the stakeholder spectrum. We have had very significant achievements, with regard to our factory operations in India. Our manufacturing has traditionally been manpower intensive, however during the last three years, we have put in a lot of efforts and investments and have technologically upgraded it, with state-of-the-art robotics and automation solutions. These technological upgradations have given us a competitive edge, with the highest cost efficiencies, in the entire ECM industry”.
“A strong and vibrant culture is the best legacy of a successful leader. I am particularly proud that during my tenure at PLSIND we transformed from being a conventional electrical switches Company to becoming a part of an iconic transnational organisation. Most importantly, during this exciting journey, our existing internal talent culturally transformed itself to adapt to contemporary best practices which are the hallmark of a performance-based culture that we have established. This transformation of the team changed the way we do business, from the historical individual-oriented method of the past to a process-oriented technology-driven way of doing business, with complete autonomy and empowerment. I can proudly say that as I depart from PLSIND, it is poised to achieve far greater success and scale newer highs in the years to come”.
MAM
PwC India announces leadership change in Deals practice
Shashank Jain steps down as co-leader after nearly three decades with the firm.
MUMBAI: When one dealmaker steps off the pitch, another is ready to take the baton because in the fast-moving world of transactions, the game never really stops. PwC India has announced a leadership transition in its Deals practice, with Shashank Jain stepping down from his role as co-leader to pursue an opportunity in the industry. The practice will continue to be led by Mohit Chopra, ensuring continuity and sustained growth momentum.
PwC India partner and leader for advisory dinesh Arora paid tribute to Jain’s contributions. “We deeply appreciate the significant contributions made by Shashank over close to three decades he has spent with PwC, particularly his defining role in shaping and strengthening our Transaction Services practice in India,” he said. Arora highlighted Jain’s support for clients through some of the most complex and significant transactions in the Indian market, noting his deep technical expertise, sound judgment and nuanced understanding of the evolving M&A landscape.
The Deals practice remains a key growth driver for PwC India, and the firm expects continued expansion under Mohit Chopra’s leadership. He will continue to guide clients through complex transactions and transformational business moments, building on the strong foundation established over the years.
Reflecting on his journey, Shashank Jain said, “I have had an exceptional journey at PwC. I owe my growth and learning to the nurturing environment and leadership development that PwC provided.” He added that he had been working closely with Mohit and the larger team to ensure a smooth transition and expressed confidence that Chopra would take the Deals practice to newer heights.
From intern to respected deals leader, Shashank Jain has clearly closed many successful transactions and now, it seems, he’s ready to strike a new deal of his own.
