Manish Sharma Joins Panasonic As Executive Officer
Panasonic has appointed senior executive Manish Sharma to its global executive council, inducting an Indian onto the coveted decision-making body of the $80-billion company for the first time ever.
Sharma’s induction into the global role comes along with an elevation in his role at the Indian subsidiary too. He has been appointed as the president and CEO of Panasonic’s India and South Asia operations. He was earlier MD of Indian operations.
The global executive council of Panasonic is a key decision-making body that gives shape to the company’s business plans across the world. Mainly dominated by senior Japanese executives, the 50-member council also has the global president and other board members. “The role will help me access global strategies and help drive in higher resources and new business plans for the Indian market,” Sharma, who at 44 is the youngest to crack into Panasonic’s executive council, told TOI.
Panasonic is not the first Japanese electronics company to give a key global role to an Indian. In April last year, Sony had also elevated Sunil Nayyar, sales head of its Indian business, to lead its consumer electronics business in the US, its largest market. Panasonic also appointed Daizo Ito, previously president of the Indian business, as managing executive officer, Panasonic Corporation.
“India is at the heart of the Panasonic’s global growth strategy and both Ito and Sharma have been pivotal in driving growth for Panasonic India. I am confident they will continue to propel our business forward,” Kazuhiro Tsuga, president of Panasonic Corporation, said.
Apart from Sharma, international representatives in the executive council include three Americans and one European. The company wants enhanced representation from officials from key markets as it goes about localization of products and technologies.
Panasonic has revenues of around Rs 8,700 crore in India, including Rs 1,200 crore from the mobile division that Sharma is credited to have revived. The company’s mainline business is consumer electronics and appliances (revenues of Rs 4,000 crore) as well as Anchor Electricals (Rs 2,000 crore).
The enterprise business contributes Rs 720 crore to its top line.