New Delhi, 14 Feb, 2012: In a move aimed at strengthening its professional management, the Board of Directors of Max India Ltd, the Rs. 79 billion, multi-business corporate, today approved the appointment of Mohit Talwar as its Deputy Managing Director (DMD) and induction as an Additional Director on its Board. Mohit was previously Director – Corporate Development at Max India. He has been with the company for almost four years and has played a pivotal role in growing the business and transforming the Max India Group into a profitable, 1.7 billion-dollar enterprise. Mohit was also instrumental in Max Healthcare’s recent stake sale to South Africa’s Life Healthcare for Rs 516 crore. Mohit will continue to report to Rahul Khosla, Managing Director (MD), Max India Ltd.
Commenting on Mohit’s appointment, Mr. Rahul Khosla, MD, Max India Ltd., said, “Mohit is a valuable part of the leadership team and has demonstrated strong performance and commitment to the Group. I look forward to his vital support as the company’s Deputy Managing Director, as we set about driving growth, creating a more efficient enterprise approach and delivering on our values of caring and service excellence.”
As the DMD, Mohit will play a significant role in shaping the future success of the Max India Group. This will include managing effective shareholder alignment, especially with Max India valued joint venture partners, progressing new business opportunities – both organically and inorganically, ensuring appropriate funding arrangements for the Group, optimizing Group capital management and Treasury, managing Investor and Analyst Relations and advising Management and Shareholders on Capital Market implications. In addition, Mohit will also drive revenue synergies across the Max India Group.
In his prior role, as the Director Corporate Finance, Mohit successfully leveraged his strong relationships with institutional investors, hedge funds, banks and private equity firms, and led several complex Corporate Finance and financial structuring deals for the Max India Group to ensure adequate investment and liquidity for Max India’s operations.
Mohit has a wealth of experience in Corporate Finance and Investment Banking. He spent 24 years in Wholesale Banking in Standard Chartered, ANZ Grindlays and Bank of Nova Scotia. Prior to this, he spent almost 6 years with the Oberoi Group. Mohit is a post graduate from St. Stephen’s College and completed his management studies in Hospitality from the Oberoi School.
Max India is a multi-business corporate, driven by the spirit of enterprise and focused on people and service oriented businesses. The Company’s vision is to be one of India’s most admired corporates for Service Excellence. (www.maxindia.com)
Max India is in the ‘Business of Life’. It ‘Protects Life’ through its Life Insurance subsidiary Max New York Life, a Joint Venture between Max India and New York Life Enterprises, ‘Cares for Life’ through its Healthcare company, Max Healthcare, a subsidiary of Max India Limited, ‘Enhances Life’ through its Health Insurance company, Max Bupa Health Insurance, a joint venture between Max India and Bupa Finance Plc., UK and ‘Improves Life’ through its Clinical Research business, Max Neeman, a fully owned subsidiary of Max India. From its past, Max India continues its interest in manufacture of Speciality Products for the packaging industry.
These businesses are high growth yet under penetrated sectors, which will continue to benefit from India’s demographic dividend and increasing purchasing power. Max India’s financial performance reflects this potential. The Group earned consolidated revenue of Rs. 79 billion in FY2011.
Supported by nearly 5 million strong customer base, each business has developed strong brands and a commanding presence in its respective sector. The Group has 500 offices across India and people strength of 54,000 persons.
Max India is a publically listed company. It is listed on both national exchanges in India, The Bombay Stock Exchange and The National Stock Exchange. The largest shareholding is of the owner sponsors, led by Mr. Analjit Singh at over 37%. Other significant shareholders include some of world’s most prestigious private equity investors such as, Warburg Pincus, Goldman Sachs, International Finance Corporation, Washington (IFC) and Temasek Holdings’. Recently Life Healthcare, South Africa’s leading healthcare services provider, operating over 63 hospitals and over 8000 beds across South Africa, recently acquired 26% stake in Max Healthcare.
Since the last few years, the Max India Group has set itself to achieve a high benchmark in the area of Governance. Today, the Company and all its subsidiaries have highly active and effective Governing Boards, with Board Members who are locally and internationally acclaimed as domain experts in their area of expertise. As a Board Governed company, this is a shift from only an eminence, to eminent and specific expertise representation of Board Members at the Board level.
Over its 25 years of existence, Max India has had a history of forging and nurturing strong and successful joint venture with leading global companies such as Hutchinson Telecommunications, Motorola, Schering AG, Avent Inc., Gist Brocades(GB), The Upjohn Company, Comsat International Ventures, Atotech BV. Today, the Company shares excellent relationships with its Joint Venture partners in the Life Insurance and Health Insurance space, namely New York Life Insurance Company and BUPA Plc. Not only have these partnerships stood the test of time, they have consistently grown, developed and matured into strong relationships.
For more details contact:
Head – Communications
Max House, Okhla – III,
New Delhi-110 020
Tele # 2693 3601-10 extn. 196
Cell # +91 9873347428+91 9873347428
Max House, Okhla – III,
New Delhi-110 020
Tele # 2693 3601-10 extn. 145
Cell # +91 9873154228+91 9873154228