Panasonic Chairman Manish Sharma Steps Down
Manish Sharma, the Chairman of Panasonic Life Solutions India, has stepped down from his position at the company. He had been leading the appliance and consumer electronics product manufacturer for more than 10 years.
According to the company, he played a key role in influencing Panasonic's business strategy, growth direction, and corporate culture in India. Sharma will provide ongoing support to the organization during the transition phase.
Tadashi Chiba, MD and CEO of Panasonic Life Solutions India, will continue overseeing the company's operations in India. According to reports, Sharma revealed his intention to leave Panasonic in a company town hall meeting.
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During the town hall meeting, Masahiro Shinada, who heads Panasonic's global appliances business, was in attendance.
Under his leadership, Panasonic gained recognition as a major player in the rapidly expanding household appliance industry. Particularly in categories like air conditioning and televisions, Panasonic established itself as a strong competitor.
Sharma strongly supports the "Make in India" campaign and has led the development of Panasonic's manufacturing capabilities in India. Under his leadership, Panasonic India has significantly enhanced local production of different product categories over the years.
Sharma is not only in charge of Panasonic Life Solutions but also leads the Electronics Manufacturing Committee at FICCI.
He played a crucial role in the implementation of the initial PLI program for white goods such as air conditioners and LED lights.
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He is a participant in the SCALE Committee, a group set up by the Indian government to enhance local production and exports, especially in response to disruptions in the supply chain. From 2014 to 2018, Sharma was in charge of CEAMA, the Consumer Electronics and Appliances Manufacturers Association.
Earlier in 2021, Panasonic revealed its decision to stop selling refrigerators and washing machines in India, as a part of the company's global business restructuring led by the Japanese appliances and consumer electronics giant. Panasonic was facing challenges in the Indian market with its refrigerator and washing machine divisions, as they were operating at a loss and had a minimal market share, as per GFK data.
Industry experts claim that Panasonic encountered difficulties in the Indian market following its withdrawal. Panasonic Life Solutions India was created by merging the businesses of Panasonic India, Anchor Electricals, Panasonic Energy, and Panasonic Carbon.
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In August 2008, Sharma joined Panasonic as the Head of Marketing for Consumer Electronics and Home Appliances. In 2012, he was promoted to MD & CEO, and in 2016, he became an Executive Committee member of Panasonic Corporation. Finally, in 2021, he was appointed as Chairman. Before joining Panasonic, Sharma was employed by Haier India. Sharma, who graduated from Bhilai Institute of Technology, has also held positions at LG Electronics India and Colour Television.