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3M India, the Indian subsidiary of US multinational conglomerate 3M Co, announced the appointment of Amit Laroya as Managing Director of the company with effect from October 1, 2013.
Laroya takes over from Ajay Nanavati, who led the company for the past 5 years. Under Ajay’s leadership, 3M India doubled sales and saw tremendous growth in R&D and plant manufacturing capabilities.
In his new role, Laroya’s focus will be to optimize existing manufacturing capacity in a way that equips 3M to drive closer alignment with customer needs. Laroya joined 3M India in 1990 and has held key positions within the company on a variety of portfolios including Safety & Graphics, Industrial and Electro & Telecommunications. Prior to his current role, Laroya served as the Managing Director of 3M Indonesia, Director of Corporate Strategy and most recently as the Director of International Strategic Planning and Mergers & Acquisitions at 3M’s corporate headquarters in St Paul, Minnesota, USA.
Commenting on his appointment, Laroya said, “I am committed to contributing towards the legacy that Nanavati has built over the past years and to take the Company to new heights by finding innovative ways to stay relevant to our customers. We will use a portfolio approach towards prioritization of our businesses and accelerate the development of locally manufactured products and services to delight customers in India. Our focus will be to tilt the balance towards operational excellence and productivity in the short term, while driving towards growth in the medium to long term”.
Nanavati, former MD, 3M India, who has assumed another role within 3M global, added, “I am glad to hand over the reins to someone as dynamic and versatile as Laroya. I am confident that his expertise in the emerging market domain and deep knowledge of global and corporate strategies will be most relevant in the developing Indian environment.”
Nanavati will now move on to the role of Director, Business Development, Asia Pacific and Greater China Area, effective November 1 2013. In this position, he will work to identify, develop and execute growth plans in underpenetrated markets, with a focus on the Southeast Asia Region, China and India.
3M India has been in the country for the last 25 years, having been established in 1988. The Company markets about 8000+ products in India with leading positions in a wide variety of market segments. In India, 3M has manufacturing facilities at Ahmedabad, Bangalore, Pimpri (Pune) and Ranjangaon (Pune) and has R&D Centers in Bangalore & Delhi.
