Vivek Sharma, Managing Director, Panasonic Life Solutions India will step down from the operational leadership in line with the company’s superannuation policy, on 30th September’20.
Panasonic Life Solutions India (PLSIND) led to great success with his commitment to excellence and inimitable leadership style. Under his leadership, the Company had a tremendous growth journey over the last 3 years. PLSIND’s revenue grew from INR 22.9 billion in 2016-17 to approximately INR 33.9 bn in 2019-20. Similarly, the operating profit more than doubled from INR 2.65 billion in 2016-17 to INR 5.8 billion in 2019-20. The Company’s sales grew at a CAGR of 15% and operating profits at a CAGR of 22%, 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.
Vivek Sharma, Managing Director, Panasonic Life Solutions India, 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 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 regards 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”.
Sharma added: “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 hallmarks 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”.