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ReutersRepresentative image Japanese consumer electronics manufacturer Panasonic's India head and chairman Manish Sharma has put in his papers. Sharma’s role will be filled by Tadashi Chiba who is the managing director of the group’s flagship entity in India, Panasonic Life Solutions.With this, Panasonic goes back to the Japanese top management in India even when it was one of the first Far Eastern electronic companies to appoint an Indian, Mr Sharma, for leadership role -- first as managing director since 2012, executive officer of parent Panasonic Corp since 2016, and eventually as chairman of Indian operations in 2021.When contacted, Sharma and Panasonic India confirmed the exit. The company made an internal announcement during a town hall on Friday when Panasonic Corp’s global CEO Masahiro Shinada was also there as he is currently visiting India.A Panasonic India spokesperson said this is Manish’s personal decision to move on after a 17-year tenure to pursue new aspirations and has been taken in mutual agreement. He said Tadashi Chiba has been spearheading India business as managing director & CEO and will assume additional responsibilities. The spokesperson further said the development does not compromise local autonomy.Panasonic in the last few years has pivoted from a consumer electronics company to a technology company in India and is building its newer business to business segments such as EV batteries and smart factory solutions.Live EventsThe company earlier this year exited refrigerators and washing machine business as it was loss-making and failed to compete against LG, Samsung, Haier and Godrej. Panasonic will focus only on televisions and air-conditioners in electronics in India. This year, India has emerged as the second-biggest market for ACs for Panasonic.Sharma said over the years, Panasonic India has deliberately evolved into a B2B and solutions-oriented organization.“We expanded aggressively into industrial devices, smart factory solutions, and automation. For example, the factory solutions and industrial devices businesses, are now exceeding Rs 1000 crore. These businesses will continue to grow exponentially, driven by make in India, electrification, and mobility programs,” said Sharma.Other Japanese companies like Sony and Daikin too have appointed Indians to lead their local operations, while South Korean duo LG and Samsung have Korean expats. Chinese companies like Oppo and Vivo too have expats managing Indian business. Panasonic India group across companies had revenue of around Rs 11,100 crore and net profit of Rs 1100 crore in 2024-25. In 2023-24, group revenue was Rs 9,700 crore and net profit of Rs 830 crore.Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onpanasonicPanasonic IndiaManish SharmaTadashi Chibaconsumer electronicsB2B technologyEV batteriessmart factory solutionsIndian operations (Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onpanasonicPanasonic IndiaManish SharmaTadashi Chibaconsumer electronicsB2B technologyEV batteriessmart factory solutionsIndian operations(Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless
