Key CXO Moves Shaping India Inc. this Week 

In the dynamic and competitive landscape of India Inc. and its increasingly global footprint, the first half of 2025 has witnessed strategic leadership appointments across diverse sectors—from financial services and retail to technology and medical devices. These CXO transitions reflect not just changes in personnel but the evolution of corporate strategies emphasizing innovation, operational agility, and growth orientation.  

Deepak Reddy Takes the Helm at Manappuram Finance 

Effective August 1, 2025, Deepak Reddy assumed charge as Chief Executive Officer of Manappuram Finance Ltd, one of India’s largest and most trusted non-banking financial companies (NBFCs). His appointment comes at a critical juncture where digital transformation, expanding credit penetration, and regulatory compliance are reshaping the NBFC industry. 

Deepak Reddy brings with him a wealth of financial services experience and operational expertise, especially in driving growth while managing risk prudently. Under his leadership, Manappuram is expected to accelerate its pivot to technology-enabled lending solutions, enhance customer experience through digital channels, and expand into underserved markets with innovative credit products. 

The financial sector in India is in the midst of rapid digitization and the rise of embedded finance. Reddy’s mandate will likely include scaling the company’s asset base while maintaining its core values of trust and customer centricity. His track record suggests a deep understanding of market dynamics, which will be critical as Manappuram navigates challenges posed by competition from fintech startups and evolving consumer behavior. 

Patrik Antoni Steps into CEO Role at IKEA India 

July 2025 marked the announcement of Patrik Antoni as the incoming CEO of IKEA India, with his official tenure starting August 2025. Patrik’s transition from Business Development Manager at the Ingka Group to helm of IKEA India signals the company’s commitment to strengthening leadership with deep international expertise amid a rapidly growing Indian retail market. 

IKEA’s India operations, which have been expanding steadily since their launch, continue to focus on affordability, design innovation, and sustainability. Antoni’s background aligns perfectly with these priorities, particularly his extensive experience in business development and strategic growth initiatives across global markets. 

His leadership will be pivotal as IKEA deepens its footprint through new store openings, digital commerce expansion, and local manufacturing collaborations. Antoni’s vision includes leveraging sustainable materials and circular economy principles to resonate with environmentally conscious Indian consumers while navigating a unique regulatory landscape. 

Patrik emphasized in early interviews his commitment to delivering a seamless omni-channel experience that balances IKEA’s global ethos with local consumer aspirations—shaping IKEA India’s trajectory during a critical growth phase. 

Tsubasa Shiraishi Assumes CEO Role at Rakuten India 

Effective August 5, 2025, Tsubasa Shiraishi took charge as CEO of Rakuten India, marking another significant leadership appointment within the technology and digital services segment. Rakuten, a major global e-commerce and fintech player, views India as a strategic market with tremendous potential for innovation in digital payments, e-commerce, and enterprise services. 

Shiraishi’s appointment corresponds with Rakuten’s intent to scale up local operations, increase market share, and introduce new fintech solutions tailored to Indian consumers’ evolving needs. His background blends technology leadership with operational excellence, having led teams across Asia in previous roles focusing on customer experience enhancement and regulatory compliance. 

Under Shiraishi, Rakuten India is expected to deepen partnerships with Indian businesses, optimize digital platforms, and invest in localized innovations. This will aid Rakuten in competing with established players like Amazon and Flipkart while carving out niches in payments, loyalty programs, and data-driven customer insights. 

His leadership highlights the ongoing globalization of digital platforms and the critical role of adaptive leadership in successfully integrating global strategies with local market realities. 

Rajnish Damani Joins Healthium Medtech as Group COO 

On July 31, 2025, Healthium Medtech announced the appointment of Rajnish Damani as Group Chief Operating Officer (COO) — a newly created leadership role focused on driving operational excellence at one of India’s leading medical devices companies. Healthium specializes in surgical and post-surgical products, with a diverse portfolio including wound closure, arthroscopy, and infection prevention devices. 

Rajnish Damani’s appointment is strategic, aimed at integrating Healthium’s manufacturing, R&D, and supply chain under a unified leadership to achieve greater operational agility and innovation. Reporting directly to CEO & MD Anish Bafna, Damani brings over 32 years of diverse experience spanning automotive, healthcare, renewables, and aviation sectors—sectors where precision, quality, and supply chain optimization are vital. 

Previously Executive Director of Manufacturing Operations at Bridgestone India, Damani is credited with leading complex industrial transformations and quality improvements. His move to Healthium symbolizes the company’s commitment to scaling global operations, deepening innovation, and enhancing responsiveness in the rapidly evolving medtech industry. 

Healthium’s significant scale, including six global manufacturing units and a presence across 90+ countries, requires leadership attuned to multi-site operational challenges and stringent regulatory compliance, all areas where Damani’s expertise is expected to add tremendous value.