Big Moves: Canon India, Nestle, Benetton Group, TPV Technology

Canon India appoints Toshiaki Nomura as President & CEO 

Canon India has appointed Toshiaki Nomura as the new President & CEO for Canon India, effective July 1, 2024.

Nomura has been associated with Canon since 1999, and before it, he played a pivotal role in leading Canon's Business Imaging Solution (BIS) Division in the Canon Southeast & South Asia Region. Furthermore, with Nomura's guidance and approach, the BIS Division has achieved significant and sustainable growth.

Expressing his enthusiasm, Nomura says, “India’s vibrant and dynamic market offers immense potential, and Canon India is at an exciting stage in its growth journey, by harnessing these opportunities and expanding into new segments. I am thrilled and honoured to lead the company through this transformative phase and collaborate with my talented team. Along with continuing our focus on strengthening the core business of imaging and printing, I am particularly excited about contributing to the development of new businesses such as surveillance, business solutions and industrial printing. By deeply understanding and addressing the unique requirements of the Indian market, it will be my endeavour to ensure our customers are consistently delighted with our high-quality products and services.”

Nomura’s extensive experience and strategic vision have been instrumental in driving remarkable growth and innovation for Canon in his previous endeavours. With him at the helm of Canon India’s operations, the company aims to continue its upward growth trajectory, by aggressively expanding into Tier 2 and Tier 3 cities, developing new business segments, and strengthening brand presence across the nation. Canon India remains committed to its mission of ‘Delighting customers always’, by contributing to Indian society and economy through their business, product innovations and community-centric initiatives.

Senior management change at Nestle India

Nestle India has reported a senior management change on July 1. The company said that Sandeep Sethi has ceased to be the Head of Nestle Business Services (NBS) division of the company with effect from the close of business hours on 30 June 2024.

The above movement is consequential to the transfer of the NBS Division to Nestlé Business Services, a joint subsidiary, with effect from July 1, 2024, as approved by the Board of Directors of the Company on February 7, 2024.

Sethi began his career at PwC and went on to work across DLF Cements and Cereal Partners Worldwide.

In February 2024, Nestle India announced that it had entered into a slump sale agreement for its NBS Division with Purina PetCare India, a wholly-owned subsidiary of Nestlé S.A. It was set to be effective from July 1, 2024, subject to customary closing conditions. The deal was valued at Rs 798 million.

Benetton Group appoints Claudio Sforza as CEO

The Benetton Group has appointed a new Board of Directors, comprising Christian Coco (Chairman), Andrea Pezzangora, and Claudio Sforza.

Sforza has also been appointed as the Chief Executive Officer (CEO) of Italy's fashion retailer.

After graduating with a degree in Economics and Commerce at La Sapienza University in Roma, Sforza started his professional career in the realm of administration and finance for Pfizer, then moved up the corporate ladder in the telecommunications sector.

Before joining the Benetton group, Sforza worked in upper management of large corporations, public and private alike, in various industrial sectors: from Astaldi to Poste, all the way to Ilva, Telecom and Wind.

For Poste, he worked as Chief Financial Officer before taking the reins of subsidiary Postel until 2011. After that, he was CEO of Gamenet, COO of Ilva Group and lastly legal representative for the management and liquidation of Astaldi's dedicated assets.

TPV Technology names Sajeev Rajasekharan as Managing Director – Philips AVA & Soundbar Business in India

TPV Technology, a manufacturer of monitors has named Sajeev Rajasekharan as the new Managing Director – Philips AVA & Soundbar Business in India. Rajasekharan brings over 30 years of experience in the automotive and consumer durables industries and has an impressive track record in his previous roles.

This move comes in line with the company’s goal to meet local market demands and ensure the availability of its innovative portfolio of AVA & Soundbars.

Prior to joining TPV Technology, Rajasekharan was associated with Harley-Davidson as the Managing Director - Asia Emerging Markets & India. He has a trustworthy track record of managing large-scale operations with expertise in business turnaround and driving significant growth. Before joining Harley-Davidson, he worked with Suzuki Motorcycle India Private Ltd as the Executive Vice President. Beyond the automotive space, Sajeev has over 2 decades of experience in consumer durables industries with brands such as Samsung and Panasonic.

At TPV Technology, Rajasekharan now steps into a pivotal role as the Managing Director of the Philips AVA & Soundbar Business in India.

Expressing his enthusiasm for the new role, Rajasekharan comments, “I am thrilled to embark on this journey with TPV Technology. Drawing from my extensive background in consumer durables and the automotive industries, I look forward to spearheading the transformative growth and innovation in the Philips AVA & Soundbar segment. I aim to build on the company’s strong foundation and steer it towards newer heights of success in the Indian market.”

Speaking on the appointment, Grace Sun, Head Global AVA Business, TPV Technology says, “We are thrilled to have Sajeev Rajasekharan as the new Managing Director of our Philips AVA & Soundbar Business in India. With over 30 years of remarkable experience in consumer durables and the automotive industry, Sajeev has a proven track record in managing large-scale operations and driving growth. His leadership and strategic vision will be invaluable as we innovate and expand our presence in the Indian Market”.