| | DECEMBER 20239IN FOCUSThe Asian Development Bank (ADB) has named Takeo Konishi as the new Director General of its South Asia Department (SARD), tasking him with spearheading and implementing strategic initiatives in the region. Konishi officially assumed this role on December 11. In addition to his position as Director General, he will also continue as the Country Director for India, a role he has held since September 2020. During his tenure in India, Konishi played a pivotal role in achieving the country's program and operational objectives. Notably, he led the formulation of the 2023-2027 country partnership strategy and fostered stronger collaborations across various government levels.Under Konishi's leadership, the Asian Development Bank (ADB) played a vital role as a significant international partner during India's G20 Presidency, actively contributing to pivotal Sherpa and finance track working groups. Konishi expressed satisfaction with the valuable strategic inputs provided by these groups, supported by ADB, which contributed to shaping the G20 Leaders' Declaration. He anticipates guiding ADB's South Asia team, fostering continuous dialogues on crucial topics such as climate change, urban development, energy transition, the convergence of climate and health issues, and the promotion of women's empowerment.Konishi, a Japanese national, obtained a master's degree in public and international affairs from the University of Pittsburgh in the United States and completed his bachelor's degree in political science at Lynchburg College, US. With over 27 years of professional experience, including 24 years at ADB, he has progressively advanced through various senior roles since joining as a Young Professional in August 1999. Prior to his assignment in India, Konishi served as the Director of the Public Management, Financial Sector, and Trade Division within SARD. He also held the position of Country Director for Uzbekistan, overseeing ADB's team in managing corporate and country-level strategies and operations. Nippon Paint, the prominent paint and coatings company in Asia, has announced its complete acquisition of VIBGYOR Paints and Chemicals Pondicherry, a significant paints and coatings supplier in South India. This strategic move is aimed at solidifying Nippon Paint's position in the expanding industrial coatings sector, particularly targeting the Indian Railways segment. Following this acquisition, VIBGYOR Paints and Chemicals Pondicherry, recognized for its expertise in providing top-notch paints to Indian Railways, will operate as a division within Nippon Paint India. By leveraging Nippon Paint's resources and extensive network, the division is poised to further its growth and enhance its market leadership. Additionally, as part of the acquisition, key members of the VIBGYOR team will join Nippon Paint, ensuring a smooth transition and retaining valuable industry knowledge within the Nippon Paint India organization.Sharad Malhotra, Director and President (Automotive Refinishes) at Nippon Paint India, expressed that the acquisition of VIBGYOR Paints and Chemicals signifies a significant stride in their growth strategy within India. This move not only establishes a strong presence in the Indian Railways sector but also facilitates the expansion of their commercial vehicles and industrial paints business across the country. Malhotra warmly welcomed the VIBGYOR team into the Nippon Paint family, acknowledging the positive impact this acquisition will bring to their overall goals.VIBGYOR Paints and Chemicals Pondicherry holds a prominent position in the Indian paint market, steadily growing in importance. The company boasts a commendable track record in supplying paints to Indian Railways and its affiliated coach, wagon, and related manufacturing entities. Renowned for its quality products and exceptional customer service, VIBGYOR operates a strategically located manufacturing unit in Ranipet, Tamil Nadu, with ample production capacity to meet escalating industrial demands. Notably, VIBGYOR has introduced numerous innovative products that enhance both the visual appeal and functional performance of paints for its clientele. By transitioning into a division of Nippon Paint India, VIBGYOR anticipates leveraging Nippon Paint's technological expertise, supply chain, and marketing capabilities, further solidifying its position as a leading paint brand in the Indian market. TAKEO KONISHI LEADS ADB'S SOUTH ASIA DEVELOPMENTNIPPON PAINT INDIA ACQUIRES VIBGYOR PAINTS & CHEMICALS
< Page 8 | Page 10 >