Parag Satpute Joins Greaves Cotton as MD & CEO; Dr. Arup Basu Heads Greaves Engineering

Greaves Cotton Limited has announced key leadership changes, effective from 14th April 2025, based on recommendations from the Nomination and Remuneration Committee and the Board of Directors.

Parag Satpute has been appointed as the Managing Director & Group Chief Executive Officer (CEO) and designated as a Key Managerial Personnel (KMP) for a tenure of five years, subject to shareholder and regulatory approvals. He succeeds Dr. Arup Basu, who will now be redesignated as Chief Executive Officer – Greaves Engineering.

Satpute brings with him over 29 years of experience in leadership roles across global and domestic markets. Most recently, he was the President of Fleet Business at Bridgestone Mobility Solutions, based in Europe. Before this, from 2017 to 2022, he served as the Managing Director of Bridgestone India, where he led a comprehensive business transformation.

Earlier in his career, Satpute had a 20-year stint with Sandvik, where he started as a Product Manager in 1997 and rose to become Managing Director & Chairman of Board (Subsidiaries) for India in 2014. Throughout his tenure, he held several key domestic and international leadership positions.

A Mechanical Engineer from Pune University and an Executive MBA graduate from Warwick Business School, Mr. Satpute will oversee the operations of Greaves Engineering, Greaves Retail, Greaves Finance, Greaves Technologies, and Excel Controlinkage.

Following Satpute’s appointment, Dr. Arup Basu will take on the role of Chief Executive Officer – Greaves Engineering. Dr. Basu has been instrumental in driving innovation and operational excellence during his tenure at Greaves.

These changes are in compliance with NSE and BSE circulars dated 20th June 2018, ensuring adherence to corporate governance standards.