 "Philips appoints Bharath Sesha as new managing director for India")
Dutch multinational conglomerate Philips on Monday said that it has appointed Bharath Sesha as Managing Director for India, starting September 1.
Bharath will lead Philips' growth strategy in India and oversee the healthcare business based in Gurugram, an official press release issued by the company read. Additionally, he will also manage Philips’ operations across several key locations in India.
He succeeds Daniel Mazon, who has moved to a global role at the Philips headquarters in the Netherlands.
Bharath Sesha brings over 20 years of global experience to his new role, with a deep understanding of the Indian market, particularly in the pharmaceutical and chemical sectors, Philips noted. He has a strong background in strategic leadership, business development, and operational excellence. Before joining Philips, he was the MD at Heubach Colorants India. Bharath holds a Master’s in International Management from Thunderbird School of Global Management and an MBA from ITM.
Speaking on his new role, Bharath said, "I am thrilled to join Philips and contribute to our mission of improving healthcare accessibility and affordability in India. I look forward to working with our talented team to bring our innovative technologies to address India's unique healthcare needs. We will continue to collaborate with our partners and stakeholders to enhance our impact on the lives of millions by expanding access to quality care."
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In July, Philips reported stronger-than-expected second-quarter results, driven by savings from job cuts. The Dutch medical device company saw its adjusted earnings before interest, tax and amortisation or Ebita rise 9.3 per cent to 495 million euros ($537.4 million), surpassing analysts' forecast of 433 million euros.
Since late 2022, Philips has announced plans to cut up to 10,000 jobs. In 2023, the company reduced its workforce by 8,000 employees.