Exide elevates Subir Chakraborty as new MD & CEO

Recently, Exide Industries has announced the appointment of Subir Chakraborty as the new managing director and chief executive officer of the country’s largest storage battery maker for a period of three years from May 1.

The Company states, "Based on the recommendation of the nomination and remuneration committee (NRC) and subject to the approval of the shareholders, the board of directors approved the appointment of Subir Chakraborty as MD and CEO."

Subir, a mechanical engineer from IIT, Madras, and PGDM from IIM, Calcutta, was appointed as deputy managing director (DMD) of the company on May 1, 2019. He joined the company in 1996 and has been serving as a director on the board for the last eight years.

On Thursday, the company reported a 36 percent year-on-year jump in its consolidated net profit to 320.17 crores for the fourth quarter ended March 31, from 235.57 crores for the corresponding period a year ago. During the period under review, its revenue from operations soared around 31 percent y-o-y at 4562.86 crores, the company said.

Gautam Chatterjee, former MD & CEO of Exide, states, “Posted impressive growth in both automotive and industrial division. The after-market demand for both automotive and UPS batteries remained strong. As a result of several strategies adopted by the company, it bounced back very strongly in the second half of the last financial year and was able to surpass the sales it had reported for 2019-20.”