Big Moves: Toshiba JSW, Bharti Axa Life Insurance

Toshiba JSW names Daisuke Murata as its MD

Toshiba JSW Power Systems, herein referred to as Toshiba JSW, a joint venture between Japan's Toshiba Group and India's JSW Group has appointed Daisuke Murata as its new Managing Director. Murata joined the Toshiba Group in 1994. For three decades, he worked on engineering and manufacturing of large equipment for power sectors and later was responsible for business development utilising new technology. During this period, he gained valuable knowledge and experience in the design and procurement of the generator, production planning and control of the turbine and generator, technical leading and management of the new businesses, and application of new technology such as heavy ion therapy systems and superconducting.

His illustrious experience and expertise earned Murata the position of Technology Executive of Keihin Factory, Toshiba Energy Systems & Solutions Corporation (Toshiba ESS), the parent company of Toshiba JSW in 2020. In 2021, Murata was appointed the Head of the New Business Unit in the Power System Division of Toshiba ESS.

Commenting on his appointment, Murata says, “Toshiba is dedicated to promoting sustainable development worldwide. At Toshiba JSW, we possess the expertise and experience to deliver high-quality power generation equipment and maintenance services to power plants, aimed at enhancing efficiency, minimising downtime and reducing carbon emissions. In my new role at Toshiba JSW, I aim to bolster the Make-in-India program and Export-from-India initiatives by expanding our business presence in overseas markets including Southeast Asia, the Middle East and Africa. By fully utilising our world-class manufacturing facility in Chennai and the Global Engineering Centre in Gurgaon, we will provide high-quality products and services, supported by excellent installation supervision by our certified Indian technical advisors to our customers in India and globally.”

Toshiba JSW is committed to improving and modernising the power sector, accelerating the transition towards a carbon-neutral society. Toshiba JSW offers high-efficiency equipment and service to existing power plants which can help in the reduction of CO2 emissions and keeping high availability. Recently, Toshiba JSW has demonstrated its comprehensive service capabilities by restoring a unit to limited capacity power generation within a short span of 3 months following an unplanned shutdown due to low pressure (LP) turbine damage. Toshiba JSW also offers effective solutions for ’preventive maintenance’ by way of advanced digital IoT solutions like EtaPROâ for the power plants which further help in improving the efficiency and reliability of power-generating assets.

In addition, Toshiba JSW in cooperation with Toshiba ESS, continues to provide a Carbon Dioxide Capture Utilisation and Storage (CCUS) solution, which helps separate and capture CO2 from its source such as thermal power plants. The captured CO2 can later be used in a different form for a different purpose. Currently, Toshiba JSW engineers are undergoing extensive training and preparing to take up the work for CCUS in the future.

“Toshiba JSW operates a state-of-the-art Heavy Engineering manufacturing facility located in Chennai, which boasts modern high-precision machines and fabrication facilities. Our facility is perfectly suited for manufacturing, assembly, and testing of large-sized precision components for Thermal Power and other industries. We offer comprehensive solutions to our clients through the Japanese quality management system, ensuring all their manufacturing needs are met under one roof. We have already manufactured products for other industries and additionally are in extensive talks with potential customers to offer our facilities for contract manufacturing for power as well as other industries," Murata further adds.

Akhil Gupta joins Bharti AXA Life Insurance as the new Chairman

Bharti AXA Life Insurance, now wholly owned by Bharti Group, gears up for the next chapter AS Akhil Gupta, Vice Chairman, Bharti Enterprises joins the company as the new Chairman. With over 40 years of professional experience, Gupta has played a crucial role in the growth of Bharti Airtel since its inception. His extensive background demonstrates a strong track record of conceptualising and implementing transformative initiatives that have significantly impacted the Bharti Group.

Throughout his career, he has consistently demonstrated leadership in forging strategic partnerships for Bharti with leading investors such as Warburg Pincus, Temasek, KKR, Qatar Foundation Endowment, AIF, and Sequoia Capital. He has also led the successful public listings of Bharti Airtel, Bharti Infratel and Airtel Africa.

In his new role, Gupta comments, "I am honoured to lead Bharti AXA Life Insurance as we have a tremendous opportunity to leverage innovation and a deep understanding of our customer's needs to enhance insurance penetration and drive sustainable growth. I am excited to work with a talented and passionate team dedicated to strengthening Bharti AXA Life Insurance as a trusted partner for our customers and key industry stakeholders, and with a Board consisting of illustrious Independent Directors."

To further strengthen its leadership and strategic direction, Bharti AXA Life Insurance has appointed two new directors to its board - Dinesh Kumar Mittal and V. V. Ranganathan.

Mittal is a former Indian Administrative Service (IAS) officer and has served the Government of India in various capacities. As Secretary, of the Department of Financial Services, he was responsible for overseeing banking, insurance and pension policies. Previously as an Additional Secretary, of the Department of Commerce, Mittal was the Chief Negotiator of India for WTO negotiations. As Joint Secretary, of the Ministry of Commerce, he formulated SEZ policy in March 2000 for the first time in India.

Ranganathan is a seasoned finance professional with over 40 years of experience across India and international markets. Previously, he was a Senior Partner with EY, serving the global firm during its crucial growth phase for many years in various capacities. He is currently a member of the International Council for Commercial Arbitration based in the Hague, Netherlands.