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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Having an investment banker in charge has seen the consumer durables maker emerge the standout performer in its segment, giving the lie to naysayers.
On 25 April 2023, when Crompton Greaves Consumer Electricals announced the exit of its CEO of almost eight years and the selection of an investment banker to lead the company in his stead, the stock market was none too pleased.
Especially because the man leaving—Mathew Job—had been instrumental in driving the performance of the company during his tenure, while the person replacing him—Promeet Ghosh—had no experience in the consumer durables sector (other than being a nominee director on Crompton’s board since 2016).
The stock crashed 13% that day to hit a 52-week low. As clear an indication as any …
Amidst the ongoing slump are pockets of hope—companies that are coping better or positioning themselves for an eventual revival.
A sharp focus on its core business (without too many distractions) has given the cable and wire maker a shot at the No. 1 spot, overtaking the electrical goods market leader.
With little by way of mechanisms to treat e-waste, the country manages to process less than a third of the hazardous materials from the rising pile of discarded electronics each year.
