Honeywell Automation appoints former CFO of Wipro as its Chairman
The
former CFO of Wipro, Suresh Senapaty has been appointed as the Chairman of Honeywell
Automation India Ltd. (HAIL) and appointment as been effective from March 8,
2016. Senapaty will be dealing in providing the corporate governance as well as
business and finance related advice in the company since he has an experience
of over three decades in governance, finance and strategy.
Senapaty
worked with Wipro for three decades before getting retired from the outsourcing
firm.
The
Managing Director of HAIL, Vikas Chadha commented that the global and local
experience of Senapaty will deliver the right financial vision to the company for
enhancing their local capabilities in order to meet the emerging and unique
needs of the Indian customers.
Earlier,
this position was held by Surendra L Rao in HAIL, who was also the member of
HAIL’s Board of Directors since 2002 and was Chairman of the board of directors
from August 2014 to February 2016.
TechSci
Research depicts that change in leadership is expected to help the company in
dealing with corporate governance and finance. As well, benefiting the company
in increasing the revenue stream by understanding the needs of Indian
customers.
According
to TechSci Research recently published report, “India Factory Automation Market Forecast and Opportunities, 2020” factory
automation market in India is projected to witness a CAGR of around 12% during
2015-2020. Growing use of robots on factory floors for increasing efficiency,
reliability and accuracy of the production processes, is driving the country’s
factory automation market. Moreover, increasing domestic manufacturing on
account of government initiatives like Make in India, is expected to stimulate
growth in automation solutions market in India through 2020. Western and
Northern regions are the major markets for factory automation in India due to
continuing industrial growth, and the presence of Special Economic Zones and
various automotive hubs in these regions.