Business Wire India, February, 22, 2020: ACC Limited announced today the appointment of Mr. Sridhar Balakrishnan as its new Managing Director and Chief Executive Officer effective from February 21, 2020.
Sridhar will be taking over the position from Mr. Neeraj Akhoury who has resigned with effect from close of business hours of February 20, 2020 to take over the role of Managing Director and Chief Executive Officer of Ambuja Cements Limited. Neeraj will continue as a non-executive member of ACC Limited’s Board of Directors.
Mr. N S Sekhsaria, Chairman of the Board, ACC Limited stated, “We wish Neeraj all the best for the future and thank him for his valuable contribution to the Company’s growth and success. At the same time, we are also pleased to have Sridhar take over the position of Managing Director and Chief Executive Officer. Sridhar has been with the Company since July 2018. He is an excellent professional and leader with experience in P&L and market facing roles in diverse industries. We wish Sridhar all the best to lead the Company further to higher levels.”
During his tenure as Chief Commercial Officer of the Company, Sridhar was responsible for driving revenue growth and profitability for the organisation and was instrumental in the Company’s expansion, distribution growth, market share amongst other aspects.
Sridhar has spent the majority of his career in the FMCG industry in different roles handling sales, business finance and supply chain for India to managing P&L across international geographies. His 22 years of experience in consumer business that has benefited ACC as the Company is transforming from a cement manufacturing business to a total building materials company with innovative technology based products and solutions. Sridhar’s extensive leadership experience and expertise across markets make him a strong asset to the future growth strategy of the Company.
Sridhar is an Engineering graduate with B. Tech (Electronics) degree from the Institute of Technology (Banaras Hindu University), Varanasi, and has a post graduate diploma in Business Management from XLRI, Jamshedpur.