- 21 Nov 2024
- ICICI Securities
MAKES A KEY APPOINTMENT IN TRADE BUSINESS
News: As per regulatory filing, the company has appointed Mr. Rajeev Khandelwal, as Senior President and Head of Trade Business with effect from 20th Nov 2024. He will be responsible for the B2C businesses of the Company. Mr. Rajeev Khandelwal is a seasoned P&L Leader with over 30 years of experience in growing brands and building successful businesses. His last role was as President - Strategy and Business Expansion at RPSG Group, FMCG business. Prior to it he has worked with consumer goods companies like P&G, Gillette, Reckitt, etc. and across geographies.
Views: We believe the current appointment is made to augment the aftermarket segment at Exide which is margin accretive in nature and contributes relatively less to its topline vs. peers. We shall closely monitor developments in this space. On the longer time horizon, we continue to maintain our positive stance on Exide given its first movers advantage in setting up India’s first Li-On cell manufacturing plant.
Impact: Positive