Redington has recently announced the appointment of V.S. Hariharan as its new Group Chief Executive Officer (CEO). The official announcement was made via an exchange filing. Hariharan, an engineering graduate from the Indian Institute of Technology, Madras, boasts an impressive career spanning over 25 years in sales, marketing, and general management.
Having initiated his professional journey with Wipro in India, Hariharan eventually transitioned to Singapore, where he dedicated over 18 years to Hewlett-Packard, accumulating a wealth of experience in various senior positions within the company. His journey also led him to become a founder of a specialised firm focused on Solar Solutions for emerging markets.
Professor J. Ramachandran, Chairman of the Board and Independent Director at Redington, expressed his enthusiasm about the appointment, highlighting Hariharan’s commitment, industry insights, and exceptional dedication, which were witnessed during his tenure as an Independent Director.
This significant appointment follows the resignation of Redington’s former Managing Director, Rajiv Srivastava, earlier this month, citing personal reasons. The company promptly accepted his resignation and communicated the change to the stock exchanges. As the company seeks a new Managing Director, the Board, along with key executives, including S.V. Krishnan, the whole-time Director and Global CFO, will maintain their roles in driving the company forward during this transition period.
Redington, with a presence in 38 markets worldwide through 60 subsidiary offices, over 300 brand associations, and 43,000 channel partners, serves enterprises across various sectors, including IT/ITeS, telecom, lifestyle, and solar products. It has established itself in rapidly growing markets such as India, Singapore, South Asia, the Middle East, Africa, and Turkey.
In the fiscal year 2022-23, the company reported substantial growth, with a revenue of ₹79,519 crore, representing a YoY increase of 27%, and a PAT (Profit After Tax) of ₹1,393 crore, marking a growth of 9%. Redington also emphasised its transformation into a holistic technology solutions provider, evolving from its traditional role as a distributor and aggregator. The company is actively addressing market demands for consumer devices, smartphones, hybrid work and learning environments, SMB and enterprise technology solutions, including cloud services, infrastructure for servers, storage, networking, and security. Additionally, Redington is aligning itself with emerging technology trends, driven by the growing adoption of 5G, Internet of Things (IoT), Edge Computing, and Generative AI.
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