Greaves Cotton appoints Mr. Parag Satpute as Managing Director & Group CEO

Greaves Cotton Limited, a diversified, multi-product engineering company with a legacy of 165 years, is pleased to announce the appointment of Mr. Parag Satpute as its new Managing Director and Group Chief Executive Officer. In his new role, Mr. Satpute will oversee the strategy and operations of Greaves Engineering, Greaves Retail, Greaves Technologies, and Excel Controlinkage Private Limited. His responsibilities will include strengthening and growing these businesses and driving business growth in accordance with our purpose of 'Empowering Lives'.

Mr. Satpute has over 29 years of experience in leadership roles in the mobility solutions and the manufacturing sector across global and domestic markets. He joins Greaves Cotton Limited from Bridgestone Mobility Solutions, where he served as the President of the Fleet Business. Prior to this role he was the Managing Director of Bridgestone India, leading a comprehensive business transformation for the organisation. Before Bridgestone, he also had a distinguished career at Sandvik stretching over 2 decades where he grew to the role of Managing Director and Chairman of the Board (Subsidiaries) for India. Mr. Satpute holds a Mechanical Engineering degree from Pune University and an Executive MBA from Warwick Business School.

Commenting on his new role, Mr. Parag Satpute, Managing Director & Group CEO, Greaves Cotton Limited, said: "I am excited to join Greaves Cotton Limited at this pivotal moment in its journey. The company's' demonstrated legacy in empowering lives through sustainable and accessible solutions resonates strongly with me. I look forward to working closely with the team to advance this vision and drive strategic business outcomes."

Basis Dr. Arup Basu's resignation as a Managing Director of the Company, his employment contract will come to an end on the close of business hours of 9th May 2025.

Shares of Greaves Cotton Limited was last trading in BSE at Rs. 182.65 as compared to the previous close of Rs. 174.10. The total number of shares traded during the day was 246429 in over 4029 trades.

The stock hit an intraday high of Rs. 188.35 and intraday low of 179.50. The net turnover during the day was Rs. 45236479.00.

Source : Equity Bulls

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GreavesCotton INE224A01026 Appointment MD GroupCEO