Pennar Group one of the leading force in the engineering industry with a manufacturing footprint across India, the US, and Europe, announced a significant leadership transition. Nrupender Rao, the Chairman who has been synonymous with Pennar’s unprecedented success since its inception, has decided to step down from his position. The company board stated in a statement that they are pleased to introduce RVS Ramakrishna as the new Independent Chairman of the group. Over the years, under Rao’s visionary leadership, Pennar Group expanded its horizons, ventured into unchartered territories, and set new benchmarks in the engineering domain. Under his leadership the company has expanded from a commodity steel manufacturer to a multinational engineering company with presence in the Automotive, Hydraulics, Energy, Infrastructure and Engineering Services verticals. His relentless commitment, profound insights, and exceptional business acumen have been instrumental in establishing Pennar as a leading engineering conglomerate. The Group’s current esteemed position in the global marketplace is a testament to Rao’s dedication, foresight, and adept leadership. Rao’s departure marks the end of an era; however, his legacy continues to inspire all of them at Pennar. His unparalleled contribution will always remain at the core of Pennar’s values and guiding principles. In acknowledgment of his vast contributions and as a mark of our deep respect, Nrupender Rao will now bear the title of Chairman Emeritus. This title symbolizes not just his past role, but also their ever-enduring relationship with him and the indelible mark he leaves on Pennar’s legacy. The company said “We are enthused to welcome RVS Ramakrishna into his new role as Independent Chairman.
With a track record of outstanding achievements, Ramakrishna brings with him a wealth of experience, knowledge, and a fresh perspective. The board, in its entirety, is delighted with this appointment and extends its unwavering support to Ramakrishna. We firmly believe that his leadership will steer Pennar Group to new pinnacles of success and growth. Notably, Ramakrishna has an inspiring career in the engineering sector, spanning more than four decades.” An engineering graduate in Chemical Technology from Birla Institute of Technology and Science (BITS) Pilani; he started his career with Coromandel Fertilisers Ltd, Visakhapatnam as a Graduate Engineer Trainee. Ramakrishna was awarded a PGDM from the Indian Institute of Management, Ahmedabad in 1982. Post completion, he joined ITW Signode India Ltd as an Area Sales Executive based in Jamshedpur. Owing to his engineering prowess and business acumen, he was inducted on the Board of ITW Signode in 1995 as a Whole Time Director to head its Steel Business. He went on to lead ITW Signode India Ltd as its Managing Director from June 1999 and as Group President- APAC and MEA regions comprising Signode India, China, MEA, Japan, Korea, and ASEAN in 2011. Ramakrishna retired from his executive roles on 31st December, 2020. He held the position of the Chairman of the Indian Institute of Packaging from 2016 to 2019 and was also an active member of CII (AP and Telangana). “The legacy that Rao leaves behind is monumental. His impact on Pennar Group and the industry as a whole is immeasurable. I am honored to take on this role and am fully committed to driving Pennar’s growth trajectory. I am confident, with the continued support from our talented team and stakeholders, we’ll reach unprecedented heights,” said Ramakrishna.
“Pennar Group has been the most important part of my life. From a humble beginning, the company has emerged as an engineering major in the last four decades on the back of unwavering commitment of its workforce, passionate customer service, and following the best corporate governance practices in the industry. In a world where technology has been evolving consistently, Pennar Group’s growth has been exemplary leveraging all emerging technologies. As the company prepares for its next phase of growth with a wide international footprint, Ramakrishna’s appointment as Chairman will continue to foster a high growth and entrepreneurial culture at Pennar Industries. The company is in very capable hands with Ramakrishna as the Chairman, who is widely known as a passionate and empathetic leader,” said incoming Chairman Emeritus and Founder of Pennar Group, Nrupender Rao.