Financial Daily from THE HINDU group of publications
Tuesday, Nov 12, 2002
Financial Daily from THE HINDU group of publications Tuesday, Nov 12, 2002 |
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Marketing
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People Karwal to take over as CEO of Electrolux Kelvinator Our Bureau
Mr Rajeev Karwal
NEW DELHI, Nov. 11 IN what is being regarded as a major top-level movement in Electrolux Kelvinator Ltd (EKL), the company on Monday formally announced that Mr Rajeev Karwal would take over as Chief Executive Officer (CEO) of the company in January 2003, with overall responsibility for the Company's operations. Mr Karwal will take over from Mr Ram S. Ramasundar, Managing Director & CEO of EKL. Mr Karwal is currently Business head of Consumer Electronics at Philips India Ltd. In a statement issued by Mr Andrew Bentley, President, EHP International (Electrolux Home Products), the company said that Mr Ramasundar has announced that he will resign from the company at the end of this calendar year. Mr Karwal will join EKL after serving his notice period with Phillips India. Mr Ramasundar will be joining Nipuna Services Ltd, the BPO (business process outsourcing) subsidiary of Satyam Computer Services Ltd, as its Chief Operating Officer. Mr Ramasundar joined the Electrolux Group as the Managing Director of the erstwhile Maharaja International Ltd in December 1997, during the initial start-up phase and has led the company over the last five years. "Mr Ramasundar has led the company through some difficult and turbulent times and achieved notable successes, such as the completion of a complex merger of multiple legal entities, smooth transition from a multi-brand structure to a single brand, transition from a CFC to non-CFC environment," Mr Bentley in his statement said. The statement added that Mr Ramasundar has agreed to continue as a Director on the board of EKL for the time being.
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