Logistics

Allcargo inducts two independent directors

P Manoj Mumbai | Updated on May 12, 2021

Potential global listing gains ground with the appointment of former M&M CFO Parthasarathy and former McKinsey partner Mueller on the board

Allcargo Logistics Ltd has appointed V.S. Parthasarathy, former Group CFO and CIO of Mahindra & Mahindra, and Martin Mueller, a former partner at global consulting giant McKinsey, as independent directors on its board.

The induction of the two independent directors, according to industry sources, strengthens the view that the company led by Shashi Kiran Shetty is preparing for a potential global listing after de-listing from the Bombay Stock Exchange and the National Stock Exchange.

The company had announced the de-listing plan in August last year.

As CEO for the mobility business and in the roles of Group CFO and CIO, Parthasarathy has served the Indian conglomerate in diverse leadership roles for more than two decades. He has spent over three decades in roles spanning HR, Finance, M&A, IT and global operations.

Müeller, a Swiss national, specialises in strategic growth of organisations with experience across Europe, APAC and West Asia, among others. Müeller comes with a logistics industry background, having advised several leading global logistics corporations over the years, a company statement said.

Parthasarathy and Muller have also joined the board of Allcargo’s wholly-owned and Belgium-based global subsidiary ECU Worldwide, with a presence in over 160 markets. ECU Worldwide is the world’s largest less-than-cargo load (LCL) consolidator.

“I expect this intellectual and diversified combination of cross-functional leadership and professional expertise will help us immensely as Allcargo prepares to move forward in its journey of excellence leading to meet our vision for the future,” Allcargo Founder and Chairman, Shetty, said.

Published on May 12, 2021

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