Max Speciality Films Limited (MSFL) has announced the appointment of Ramneek Jain as its new chief executive with effect from 11 July 2017. Jain is a seasoned business leader with over 23 years of rich experience across manufacturing organisations in India and the US.
Jain joins MSF after a 12-year stint at Anand Group, where he last held the position of senior vice president and chief operations officer at Spicer India Limited, a subsidiary of the Anand Group. In this role, he managed company-wide operations and led an intensive cost restructuring exercise improving the company’s expense model, delivering returns on sales of more than Rs. 1,000 crore.
Prior to Spicer India, Jain was with MAHLE Filter Systems India (MFSI), a 50:50 joint venture between Anand Group and Germany-based MAHLE GmbH, where he spent more than 8 years and became the company’s chief operating officer. At MFSI, he steered sales of Rs. 600 crore and managed five plants with 1,500 employees. During his tenure, the company doubled its profits consecutively over two years. He also spent 6 years with General Motors in USA, early in his career.
Commenting on Jain’s appointment, Sahil Vachani, managing director and CEO, Max Ventures and Industries Limited said, “Ramneek is joining MSFL at a critical juncture when the company is poised for a new phase of growth and expansion. We are close to completing a significant capacity augmentation exercise with the imminent launch of MSFL’s new production line in 2018. We also have a new strategic partnership with Japan-based Toppan Group, who recently joined us as a joint venture partner in MSF with an investment of nearly Rs. 200 crore. We hope that Ramneek will bring in a fresh perspective and vision to help MSF scale new heights and nurture our nascent relationship with the Toppan Group.”
The incoming CEO Ramneek Jain added, “I am honoured to be part of the Max Group, which has a proven track record of success in various lines of businesses and nurturing long-term partnerships with global enterprises. Over the past few years, Max Speciality Films has emerged as an industry leader in innovation and with strategic support from the Toppan Group, I am confident the company will be able to develop cutting-edge capabilities to push technology and produce world-class packaging. I look forward to leading MSFL through this exciting new journey.”
Jain holds an Executive Management Programme degree from MIT, Boston, a Master’s degree in Strategy and Planning from Kelley School of Business, USA, an MBA from Thunderbird School of Global Management, USA and a Bachelor’s degree in Mechanical Engineering from Manipal Institute of Technology.
MaxVIL is the newest entity in the Max Group of companies that came into existence after the erstwhile Max India Group was demerged into Max Financial Services Limited, Max India Limited and Max Ventures and Industries Limited (MaxVIL). MaxVIL has four distinct business verticals Max Speciality Films (manufacturing), Max Estates (real estate), Max Learning (education) and Max I. (providing intellectual and financial support to high-potential start-ups). MaxVIL is listed both on BSE and NSE. Other investors in MaxVIL include Morgan Stanley and Reliance Mutual Fund.