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Honeywell Automation appoints former CFO of Wipro as its Chairman

The former CFO of Wipro, Suresh Senapaty has been appointed as the Chairman of Honeywell Automation India Ltd. (HAIL) and appointment as been effective from March 8, 2016. Senapaty will be dealing in providing the corporate governance as well as business and finance related advice in the company since he has an experience of over three decades in governance, finance and strategy.

Senapaty worked with Wipro for three decades before getting retired from the outsourcing firm.

The Managing Director of HAIL, Vikas Chadha commented that the global and local experience of Senapaty will deliver the right financial vision to the company for enhancing their local capabilities in order to meet the emerging and unique needs of the Indian customers.

Earlier, this position was held by Surendra L Rao in HAIL, who was also the member of HAIL’s Board of Directors since 2002 and was Chairman of the board of directors from August 2014 to February 2016.

TechSci Research depicts that change in leadership is expected to help the company in dealing with corporate governance and finance. As well, benefiting the company in increasing the revenue stream by understanding the needs of Indian customers.

According to TechSci Research recently published report, “India Factory Automation Market Forecast and Opportunities, 2020” factory automation market in India is projected to witness a CAGR of around 12% during 2015-2020. Growing use of robots on factory floors for increasing efficiency, reliability and accuracy of the production processes, is driving the country’s factory automation market. Moreover, increasing domestic manufacturing on account of government initiatives like Make in India, is expected to stimulate growth in automation solutions market in India through 2020. Western and Northern regions are the major markets for factory automation in India due to continuing industrial growth, and the presence of Special Economic Zones and various automotive hubs in these regions.

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