Apollo Tyres’ President for APAC & MEA resigns

Apollo Tyres has announced that Satish Sharma, President of the Asia Pacific, Middle East, and Africa (APMEA) division, is taking early retirement, having resigned effective May 14, 2024.

Satish will continue in his current role until May 31, 2024, to ensure a smooth transition. In a company exchange filing, it was noted, ‘Mr. Satish Sharma wishes to take early retirement to pursue personal interests and has therefore tendered his resignation as a Whole-time Director of the Company. Consequently, he will resign from the Risk Management Committee of the Board and from the Boards of Subsidiaries where he serves as a director, effective at the close of business hours on May 14, 2024. He has confirmed that there are no other material reasons for his departure other than those mentioned. He will continue as President (APMEA) until the close of business on May 31, 2024.’

Although Satish did not specify the reasons for his early retirement, he expressed his gratitude in his resignation email, "I would like to express my deep sense of gratitude to Mr. Onkar Kanwar and Mr. Neeraj Kanwar for their continuous support and guidance during my 27-year-long association with the Company. Serving on the Board of the Company has been both an honour and a privilege. I also wish to thank my fellow Board Members and Senior Management for their cooperation and courtesy during my tenure."

Satish possesses over 36 years of leadership experience. He rejoined the company in 2015 as the President of APMEA, after having previously served as the CEO of India operations for 11 years until 2013. Thereafter, he served as the Chairman of the Automotive Tyre Manufacturers' Association in India. 

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The company has yet to name a successor for Satish, but has approved appointment of  Berjis Desai and Sumit Dayal as an Independent Director on the company’s board for the next five years, starting August 6, 2024. The company's filing noted, "Sumit brings over 34 years of banking experience with extensive client connections across Asia, Africa, and the Middle East."