The board of directors of Finolex Cables re-appointed Deepak Chhabria as the Executive Chairman for five years, the company announced through an exchange filing. The re-appointment was made on the recommendations of the Nomination and Remuneration Committee. Chhabria will take on the position of the whole-time director designated as executive chairman from July 1, 2023 to June 30, 2028 post the approval at the Annual General Meeting of the company.
Deepak Chhabria's journey in Finolex Cables
Deepak Chhabria, aged 61 years old holds a Bachelor of Science in Engineering Management from the University of Evansville, USA.
Mr. Chhabria has been involved with the growth of Finolex Cables Limited for several years. He joined the services of the Company on 1st May, 1986. Through his journey in the company he has played the role of Whole Time Director, Deputy Managing Director and Executive Chairman. Under his leadership, the Company's revenues have grown from approx. Rs. 2,400 crores to approx. Rs. 4,700 crores. The share price has grown from Rs. 96.20 /- per share to Rs.811.90/- per share.
Finolex Cables Limited has rapidly expanded into the consumer-oriented product segment under Mr. Chhabria's leadership. Through several major launches in the electrical and home appliances segments with products like fans, water heaters, electrical switches, electrical switchgear (low voltage), lighting, conduits, room heaters, and irons, Finolex Cables has increased its market reach to become an electrical product company.
He has been actively involved with industry bodies and local associations to work closely with other stakeholders and contribute towards the growth of the industry and economy further. He was a Director on the Board of the Indian Electrical and Electronics Manufacturers' Association (IEEMA) and has also served as the Chairman of the Confederation of Indian Industries (Cll)-Pune Chapter. He has also been awarded The Most Promising Business Leaders of Asia 2020-21' award by The Economic Times.
Deepak Chhabria has a number of years of rich experience in Industry and is also the Company's Nominee Director on the Board of Corning Finolex Optical Fibre Private Limited and Chairman of Finolex J-Power Systems Limited and also a Director on the Boards of Orbit Electricals Private Limited and Finolex Infrastructure Limited.
In his leisure time, he is a voracious reader, an avid painter, and a photography enthusiast.