Neeraj Kanwar

Neeraj Kanwar (born 6 September 1971) is an Indian businessman. He is the vice chairman and managing director of Apollo Tyres, India's second-largest tyre manufacturer with annual revenues of over $2.27[2] billion.[3] He is credited with turning Apollo Tyres from a commercial vehicle-focussed tyre manufacturer in India into a multinational company that now manufactures tyres for commercial and passenger vehicles as well as two-wheeler tyres.[4]

Neeraj Kanwar
Born (1971-09-06) 6 September 1971[1]
NationalityIndian
Alma materSt. Columba's School, Delhi
Lehigh University
OccupationVice chairman and managing director, Apollo Tyres
Spouse(s)Simran Kanwar
Children2
Parent(s)Onkar Kanwar

Education

Kanwar was educated at St. Columba's School, Delhi and thereafter graduated in engineering from Lehigh University in Pennsylvania, US.[5]

Career

Kanwar started his career with a training stint at American Express Bank in New York City. He thereafter returned to India and started Global Finance Ltd, a non-bank financial institution which shut after three years. In 1985 Kanwar became the third generation of his family to join Apollo Tyres, which was launched by his grandfather Raunaq Singh and later taken over by his father Onkar Kanwar. His first position in the company was in the sales team.[5]

In 2002, Kanwar took over daily operations from his father.[6] Kanwar is the force behind Apollo's international acquisitions. When the company announced its acquisition of Dunlop Tyres, South Africa in 2006 it simultaneously announced Kanwar's elevation as the company's Managing Director.[7] The company later sold most of its South African operations to Sumitomo Rubber Industries in 2013, retaining one plant in Durban.[8]

In 2009, under the aegis of Kanwar, Apollo bought out Vredestein Banden in the Netherlands, thus giving the company a foothold in Europe.[6] Apollo bought Reifencom GmbH in Germany in 2015, giving it access to distribution channels across Europe.[9] After a failed takeover attempt of Cooper Tires in 2013, Kanwar decided to focus on organic growth by investing in new greenfield facilities in Chennai, India and Budapest, Hungary.[10] The Hungary plant was inaugurated in 2017.[11]

Personal life

In partnership with Amit Burman (vice chairman of Dabur), Kanwar bought an Italian restaurant called Scalini in London in 2014.[12] Kanwar and Burman met during their University days in Pennsylvania and remained friends.[5]

Apart from his business activities, Kanwar serves as the vice chairman of the British Asian Trust in India, a charity founded by Prince Charles.[13]

Neeraj Kanwar is the second son of Onkar Kanwar and has an elder brother, Raja. He married Simran Kanwar and they have two children, son Jai Karan and daughter Sayra Taru.[5] In 2013, he relocated to London to focus on the attempted buyout of Cooper Tires. Though the deal did not work out, Kanwar settled in London to focus on Apollo's international operations and better manage its international investors.[14]

Kanwar resides in London's Mayfair neighbourhood.[15]

References
  1. "PTL Enterprises Ltd 55th Annual Report" (PDF). Retrieved 27 September 2017.
  2. https://corporate.apollotyres.com/en-in/press-media/news/fy20/?subsection=Announcements
  5. "I live for today, not tomorrow". The Financial Express. 7 August 2008. Retrieved 27 September 2017.
  6. "Apollo Tyres' quest for a global grip". Forbes India. 12 October 2016. Retrieved 27 September 2017.
  7. "Apollo buys Dunlop, S.Africa". The Hindu. 31 January 2006. Retrieved 27 September 2017.
  8. "Apollo Tyres sells South African business to Sumitomo Rubber for Rs 340 crore". The Economic Times. 30 May 2013. Retrieved 27 September 2017.
  9. "Focus on growth, R&D shaping Apollo's journey, says Vice Chairman and MD Neeraj Kanwar". www.businesstoday.in. 2 May 2017. Retrieved 27 September 2017.
  10. Mitra, Moinak (12 June 2015). "Apollo Tyres MD Neeraj Kanwar plans to make it a global player". The Economic Times. Retrieved 27 September 2017.
  11. SK, Lokeshwarri (12 April 2017). "'Hungary welcomed us with smile and sops'". The Hindu Business Line. Retrieved 27 September 2017.
  12. Bhandari, Bhupesh (25 April 2014). "Lunch with BS: Amit Burman". Business Standard India. Retrieved 27 September 2017.
  13. Roy, Amit (15 March 2013). "Salaam Bombay to Salaam Britain". mid-day. Retrieved 27 September 2017.
  14. Mukherjee, Sharmistha (19 March 2016). "Promoters of Indian auto companies relocating to grow their brands on the international stage". The Economic Times. Retrieved 27 September 2017.
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