Mahindra Intertrade appoints Sumit Issar as Managing Director
Mumbai, October 5, 2015: Mahindra Intertrade (MIL), a portfolio company of Mahindra Partners, the private equity and venture capital division of the USD 16.9 billion Mahindra Group, today announced the appointment of Sumit Issar as its new Managing Director. Sumit Issar has also been appointed Managing Director of Mahindra Steel Service Centre Limited (MSSCL), a joint venture between Mahindra and Metal One Corporation, Japan. He takes over from Harsh Kumar who has retired with effect from 30th Sept, 2015 and will assume fresh responsibilities at the Mahindra Institute of Quality.
MIL owns and operates the country’s largest network of independent steel service centres in the Automotive, Power and Home Appliance verticals, and is amongst the top 5 companies globally in the electric steel processing business.
Sumit Issar started his career at MIL as a Graduate Engineer Trainee in 1995 and has performed a multitude of roles during this extended period encompassing sales and operations, product development, sourcing, supply chain management and business development. Sumit has been a key member of the MIL leadership team and has played a pivotal role in transforming the company into a multi-vertical steel solutions company. In Oct 2014 he was appointed Chief Operating Officer followed by his elevation to CEO Designate in May 2015.
Sumit Issar, Managing Director, Mahindra Intertrade said “I look forward to leading Mahindra Intertrade’s next phase of growth as we forge innovative business models which offer customer centric solutions and also venture into new business areas. Harnessing the potential strengths and talents of the company’s employees will also be a special area of focus for me.”
Harsh Kumar who has over the last 10 years successfully anchored the accelerated growth of MIL both in revenues and in the expanded footprint of service centres, will continue in the Mahindra Group and assume the position of Director, MIQ effective April 1, 2016.
About Mahindra Intertrade Limited
Mahindra Intertrade is a wholly owned subsidiary of Mahindra and Mahindra Ltd. Intertrade owns and operates the country’s largest network of independent steel service centres in the Automotive, Power and Home Appliances verticals. Intertrade is a leading player in the processing of automotive steel in Western India, and in electrical steel for power and home appliance applications.
Mahindra Intertrade operates steel service centres in Pune, Nashik, Vadodara, Bhopal and Chakan in India and Sharjah in the Middle East.
Mahindra Intertrade has been ranked as the 36th Best Company To Work For in India in 2015 and 4th in Manufacturing by the Great Place To Work© Institute.
Visit us at www.mahindraintertrade.com
About Mahindra Partners
Mahindra Partners is the $900 Million Private Equity division of the Mahindra Group, whose mission is to accelerate value creation through a diversified portfolio of emergent businesses. Mahindra Partners adapts the Group’s unique strengths of constant innovation, prudence and creative business models with a mandate of incubating new ventures for the Group. The division provides growth capital to bring our stakeholders diversified products and services.
Mahindra Partners also manages portfolio companies in various industry sectors like Retail, Renewables, Steel, Logistics, Vocational Education, Consulting, Media, Luxury and Boat Manufacturing and Conveyor Systems.
Visit us at www.mahindrapartners.com
The Mahindra Group focuses on enabling people to rise through solutions that power mobility, drive rural prosperity, enhance urban lifestyles and increase business efficiency.
A USD 16.9 billion multinational group based in Mumbai, India, Mahindra provides employment opportunities to over 200,000 people in over 100 countries. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technologyfinancial services and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two wheeler industries.
In 2014, Mahindra featured on the Forbes Global 2000, a comprehensive listing of the world’s largest, most powerful public companies, as measured by revenue, profit, assets and market value. The Mahindra Group also received the Financial Times ‘Boldness in Business’ Award in the ‘Emerging Markets’ category in 2013.
Visit us at www.mahindra.com
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