US-based Coats, a leading industrial thread manufacturer and a major player in the US textile crafts market, has announced that Rajiv Sharma, currently Executive Director and Global CEO, Industrial, is being appointed as Group Chief Executive with effect from January 1, 2017. Current Group Chief Executive, Paul Forman, will leave Coats on December 31, 2016 and will take up the role of Chief Executive at Essentra plc, a FTSE 250 company and a leading global provider of essential components and solutions, as per reports.
Sharma joined Coats in November 2010 and is responsible for the global Industrial business, which accounted for approximately 80 per cent of Group revenues in 2015, the year when he was appointed as an Executive Director of Coats. Prior to joining Coats, he worked at Honeywell, GE and Shell, amongst others. His experience spans multiple disciplines, including M&A, digital and leading large complex businesses, in a range of industries, across five continents.
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Speaking about his appointment Sharma said, “I am excited to be taking on this new role. Paul is passing me the baton of a company in a market leading position, holding a strong strategic hand of cards. Superior customer experiences, motivated employees, innovation, digital and technology will be the pillars of our continuing profitable sales journey within a safe, respectful and inclusive workplace. I look forward to guiding Coats through its next positive chapter.”