Sterling Tools has announced segregation of Chairman and Managing Director roles in order to provide greater focus to electric vehicles and other green technology verticals.
The STL Board announced the change in designation of Mr. Atul Aggarwal and he is elevated to the role of Managing Director to spearhead the Company’s diversification and growth in emerging verticals. Mr. Anil Aggarwal, transitioning from Chairman & Managing Director to Chairman & Whole-time Director and will continue to provide overall guidance and mentorship to the Company.
Mr. Akhill Aggarwal is appointed as the Whole-time Director at STL. This appointment showcases STL’s commitment to nurture new leadership talent from within, ensuring continued momentum and strategic direction. He is responsible for the sales and business development functions at STL and will lead the Company’s initiatives to grow market share as well as margins.
Additionally, Mr. Sanjiv Garg and Mr. Vijay Madhav Paradkar joined the Company as Independent Directors. Their appointments reflect STL’s dedication to leverage proactive initiatives for sustainable growth and success.
Mr. Atul Aggarwal, said, "These new appointments reflect our consistent focus on innovation and excellence across operations and management for our fasteners and EV business. We are pleased to have individuals with extensive experience and multiple skills to strengthen our team and reach our business outlook in the upcoming years."
Commenting on the developments, Mr. Anil Aggarwal, said, “STL has in addition to its established fasteners business, in recent years positioned itself as a leading EV component player. We want to further accelerate our EV journey and provide greater focus and impetus to our new ventures. Atul’s elevation to the role of Managing Director will enable this transition. This change is also in line with the Company’s succession planning objectives.”
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