India Cements Announces Management Reshuffle Post UltraTech Buyout
09 Jan 2025
2 Min Read
CW Team
India Cements, now majority-owned by UltraTech Cement following a landmark acquisition, has restructured its top management roles in marketing and HR. The changes were finalised at a board meeting on January 3, 2025, and disclosed to the BSE.
The company stated, 鈥淭he Board of Directors has approved the recommendation of the Nomination and Remuneration Committee for the appointment of the following officials as Senior Management Personnel, effective January 1, 2025.鈥�
R. Parthasarathy, formerly Chief Marketing Officer, has been appointed as Head 鈥� Integration (Sales and Marketing). A seasoned professional with experience at RAK Ceramics, Asian Paints, and Roca Bathroom Products (formerly Parryware Roca), Parthasarathy is an alumnus of the Indian Institute of Management, Calcutta. He joined India Cements in August 2021.
Other key appointments include:
鈥� Rajesh Sankar as Head 鈥� Integration (Manufacturing). Sankar, a chemical engineer with a master鈥檚 in environmental science, brings extensive manufacturing expertise.
鈥� Prakash Pattanshetty as Head 鈥� Sales and Marketing. With over 30 years of experience, Pattanshetty is a civil engineer and postgraduate in sales and marketing.
鈥� G. Ramesh as Vice President 鈥� Personnel.
鈥� Ravikrishna Iyer as Group Head 鈥� Human Resources.
On July 28, 2024, UltraTech Cement, part of the Aditya Birla Group, announced the purchase of a 32.72% stake in India Cements for Rs 39.54 billion at Rs 390 per share. This followed a 22.7% stake acquisition in June 2024, bringing UltraTech鈥檚 total shareholding in India Cements to 55.49%.
UltraTech Cement sought approval from the Competition Commission of India (CCI) for the acquisition, arguing that India Cements was incurring significant losses and the buyout could help revive the "failing firm."
This realignment marks a strategic shift for India Cements as it integrates operations under UltraTech Cement鈥檚 ownership while focusing on revamping its sales, marketing, and HR strategies.
(Storyboard18)
India Cements, now majority-owned by UltraTech Cement following a landmark acquisition, has restructured its top management roles in marketing and HR. The changes were finalised at a board meeting on January 3, 2025, and disclosed to the BSE.
The company stated, 鈥淭he Board of Directors has approved the recommendation of the Nomination and Remuneration Committee for the appointment of the following officials as Senior Management Personnel, effective January 1, 2025.鈥�
R. Parthasarathy, formerly Chief Marketing Officer, has been appointed as Head 鈥� Integration (Sales and Marketing). A seasoned professional with experience at RAK Ceramics, Asian Paints, and Roca Bathroom Products (formerly Parryware Roca), Parthasarathy is an alumnus of the Indian Institute of Management, Calcutta. He joined India Cements in August 2021.
Other key appointments include:
鈥� Rajesh Sankar as Head 鈥� Integration (Manufacturing). Sankar, a chemical engineer with a master鈥檚 in environmental science, brings extensive manufacturing expertise.
鈥� Prakash Pattanshetty as Head 鈥� Sales and Marketing. With over 30 years of experience, Pattanshetty is a civil engineer and postgraduate in sales and marketing.
鈥� G. Ramesh as Vice President 鈥� Personnel.
鈥� Ravikrishna Iyer as Group Head 鈥� Human Resources.
On July 28, 2024, UltraTech Cement, part of the Aditya Birla Group, announced the purchase of a 32.72% stake in India Cements for Rs 39.54 billion at Rs 390 per share. This followed a 22.7% stake acquisition in June 2024, bringing UltraTech鈥檚 total shareholding in India Cements to 55.49%.
UltraTech Cement sought approval from the Competition Commission of India (CCI) for the acquisition, arguing that India Cements was incurring significant losses and the buyout could help revive the failing firm.
This realignment marks a strategic shift for India Cements as it integrates operations under UltraTech Cement鈥檚 ownership while focusing on revamping its sales, marketing, and HR strategies.
(Storyboard18)
Next Story
MoHUA Plans New Role for Smart City SPVs
In a significant policy move, the Ministry of Housing and Urban Affairs (MoHUA) has issued an advisory encouraging the continued use and repurposing of Special Purpose Vehicles (SPVs) formed under the Smart Cities Mission (SCM). This marks a step toward sustaining urban transformation by leveraging institutional capabilities and infrastructure developed over the past decade.Initiated in 2015, the Smart Cities Mission introduced a new era of urban planning in India, with each of the 100 selected cities forming SPVs under the Companies Act, 2013. These entities, jointly owned by state government..
Next Story
ADB Approves $110 Million Loan to Boost Skills in Gujarat
The Asian Development Bank (ADB) has approved a USD 109.97 million (Rs 9.27 billion) results-based loan to support Gujarat鈥檚 efforts to become a global industrial hub by developing a future-ready, skilled workforce.The funding will back the Gujarat skills development programme, led by the Department of Labour, Skill Development and Employment in collaboration with Kaushalya: The Skill University (KSU). The initiative aims to equip the workforce with advanced, industry-aligned skills to meet rising employment demand in high-growth sectors.According to ADB, the programme seeks to strengthen in..
Next Story
SDAL Tests Rudrastra UAV and Bhargavastra Defence System
Solar Defence and Aerospace Limited (SDAL) has successfully completed a key flight test of its indigenous Hybrid VTOL UAV Rudrastra at the Pokharan Firing Range, aligning with Indian Army performance benchmarks for mission adaptability, high endurance, precision engagement, and vertical take-off and landing (VTOL) capability.The trial marks a notable achievement in India鈥檚 Aatmanirbhar Bharat initiative, underscoring advancements in home-grown military technology. The Rudrastra UAV demonstrated a mission radius exceeding 50 km with uninterrupted video relay, a total operational range of over..
