Salil Gupta New Apollo Tyres CFO

Apollo Tyres’ announced expansion plans have been augmented by the appointment of a new chief financial officer. Mr. Salil Gupta, formerly group CFO at Dentsu India, will in his new role oversee the organisation’s finance, taxation and accounts functions – Apollo states that his primary objective is to contribute to the organisation’s financial health and stability, ensuring full compliance with statutory guidelines and the company’s corporate governance policies. His responsibilities also include an advisory role to the company’s legal and secretarial functions.

The appointment of a CFO comes at a time of expansion for Apollo Tyres, with greenfield facilities planned for Gyongyos, Hungary and Chennai, India. Also in planning are brownfield expansions at the Gujarat Plant in India and the two South African Plants in Durban and Ladysmith respectively. Considering the current scenario of an all round capacity increase, and the challenges of rising raw material costs, Mr Gupta’s role becomes pivotal in providing the balancing act for the organisation. “I have joined the organisation when it is at an inflection point, poised for expansion on a global platform, in an environment which is challenging, to say the least,” comments Mr. Gupta. “The key job is to continuously improve internal efficiencies and create greater value for our customers.”

Prior to Gupta’s previous with Dentsu India, he spent a significant part of his career as a member of the Indian Revenue Services, which included time with the Securities & Exchange Board of India. He has worked with KPMG as director, Tax and Regulatory Services. An Economics major from Punjab University, Mr Gupta is a qualified Chartered Accountant.

In June Apollo also brought on board Peter Becker as chief of Research & Technology. He will be leading Apollo Tyres’ initiatives in tyre technology, research and new product development, especially keeping in mind the mobility needs of European customers. Mr Becker will be based in Germany, where he will be responsible for establishing an R&D facility for Apollo Tyres. He will be working with Apollo’s research, technology and design teams across geographical locations in India, South Africa and Europe.
Commenting on the appointments of Salil Gupta and Peter Becker, Neeraj Kanwar, vice chairman & joint MD, Apollo Tyres Ltd, said: “The appointments reflect Apollo’s commitment to long term goals and our tradition of leveraging talent across markets. While Peter brings with him rich product technology experience, Salil’s strength lies in his knowledge of managing diverse businesses. Their appointment further strengthens Apollo’s Leadership Team and gives the company’s growth agenda an added impetus.”