Max Speciality Films Appoints Jaideep Wadhwa as Chief Executive

New Delhi, Delhi , India 
Max Specialty Films (MSF), a business division of Max India Ltd, has appointed
Jaideep Wadhwa as Chief Executive Officer. Jaideep will focus on profitably
growing the business, achieving optimal scale and strengthening key customer
relationships. He will report to Rahul Khosla, Managing Director, Max India.
Jaideep will succeed Sudhir Mathur who successfully led MSF as Chief Executive
Officer for 8 years, steering growth of five times in revenues, over three times
in profits and establishing a market share of over 30% in the Indian Speciality
Films category. 
Sudhir, who retires on March 31, 2014, led MSF to grow domestically and expand
in diverse international markets. In FY ‘13, MSF exported 30% of its
production to South Africa, Middle East and Europe. It has a steady base of blue
chip customers with its top 15% clients contributing nearly 70% of its sales.
MSF operates at the higher value end of the market. While it has 11% of the
installed BOPP capacity in India, it has a disproportionately high market share
of 15%. The company has won many recognitions that endorse its innovation and
quality orientation, including India's most coveted packaging award, the India
Star Award and the premier international packaging award, the World Star Award.
The Company's environment sensitivity won it the National Energy Conservation
Award 2012 from Ministry of Power. 
As India grows to become the 5th largest consumer market in the world by 2020,
MSF will be a leading player in the speciality packaging film industry. Its
current installed capacity is 52,000 tonnes per annum and its turnover for FY
‘13 was Rs 713 crore. 
Speaking about the appointment, Rahul Khosla, Managing Director of Max India
said, “I am delighted to welcome Jaideep to the Max family. His deep yet
diverse expertise in specialized manufacturing businesses will be invaluable for
Max Speciality Films. His track record of consistent and profitable growth will
stand us in good stead for the growth, development and value creation that MSF
is set to embark upon.” 
Jaideep is a consummate professional with 27 years of experience in leading
manufacturing businesses. He has held P&L responsibilities, managed business
development, sales as well as manufacturing across India & China during his
career. He last held the position of Director, Actis Advisors, Mumbai,
intensively engaged in guiding and supporting the management teams at Actis'
investee companies to improve operations and optimize returns. Prior to joining
Actis, he was President of Tomkins Plc's Industrial & Automotive Businesses in
India.  
Commenting about his latest assignment, Jaideep Wadhwa said, “I look forward
to being a part of the Max India family as there is a great alignment of culture
and values between us. I believe this opportunity will allow me to build on a
strong foundation and further enhance value" 
Jaideep started his career with Wadco Tools Ltd. and worked several years at
Ingersoll Rand managing various leadership roles in India & China. He last
served as Vice President & General Manager, Industrial Technologies, India and
Managing Director Ingersoll Rand (India) Ltd. 
Jaideep studied at Modern School and graduated from St. Stephens College in New
Delhi. He is also an MBA from the Darden Graduate School of Management,
Virginia. 
About Max India 
The Max India Group is a multi-business corporate, driven by the spirit of
enterprise and focused on people and service oriented businesses. The Company is
headquartered in New Delhi, India. Max India is in the ‘Businesses of Life'
with its vision to be one of India's most admired corporates for service
excellence – in what we do, how we do it and the positive impact we have on
society and our stakeholders. It ‘Protects Life' through its Life Insurance
subsidiary Max Life, a joint venture between Max India and Mitsui Sumitomo
Insurance, Japan; ‘Cares for Life' through its Healthcare company, Max
Healthcare, a joint venture between Max India and Life Healthcare, South Africa;
‘Enhances Life' through its Health Insurance company, Max Bupa Health
Insurance, a joint venture between Max India and Bupa Finance Plc., UK;
'Rejuvenates Life' through its Senior Living business  Antara, a fully owned
subsidiary of Max India and ‘Improves Life' through its Clinical Research
business, Max Neeman, a fully owned subsidiary of Max India. The Group also
continues its interest in manufacture of Speciality Products for the packaging
industry through its SBU Max Speciality Films. 
The Group's businesses have built commanding presence in their respective
sector, through a total customer base of nearly 7 million, over 300 offices
spread across India and a people strength of over 70,000 persons. Max India
remains committed to excellence in Corporate Governance and recognizes that in
today's world, it is an important driver for building all round excellence,
attracting high-quality talent and intelligent capital. The Group and its
companies are Shareholder steered, Board governed and Executive managed. The
Board thoroughly evaluates business performance on nine strategic levers -
enhancing business performance, investing in people and organisational
development, creating efficiency in capital management, adopting an integrated
enterprise-wide approach, investing sensibly in new growth opportunities,
maintaining the highest standards of governance, continuously improving service
quality, developing a distinct corporate brand and effectively managing risk.  
The flagship company Max India Limited is a widely held public limited company,
listed on the BSE & the NSE. Analjit Singh, Founder & Chairman, is the lead
shareholder in Max India with over 39% holding. Other key shareholders in the
company include some of world's leading Institutional Investors, such as Goldman
Sachs, International Finance Corporation, Washington (IFC), and Temasek
Holdings. 
Media Contact Details
Nitin Thakur ,  Head – Communications ,  Max India Limited ,  +919873347428 , 
+91(11)26933196 ,  nthakur@maxindia.com 
Anisha Rakyan ,  Manager-Brand & Communications ,  Max India Limited , 
+91981024077 ,  +91(11)26933240 ,  arakyan@maxindia.com 
Contributed via: Bloomberg Publisher WEB Service 
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-0- Feb/17/2014 13:26 GMT
 
 
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