CEAT has revealed that its Executive Director and Chief Financial Officer (CFO), Kumar Subbiah, has been named one of the Leading CFOs of the Year by CII at the 2nd CFO Excellence Awards in 2022.
He was recognized in the Auto Category for his work at the company in business partnering, capital allocation and driving operational excellence.
According to the tyre manufacturer, CEAT has implemented a number of systems and procedures that have aided in raising corporate governance standards and compliances under Subbiah’s direction and leadership. The finance team has also become a true business partner, finding the ideal ratio between growth and leverage to aid the organization in achieving its strategic goals.
Due to its efforts to improve working capital across all components, Rs 750 crore in cash has been made available to invest in businesses over the past few years. It has also taken on a number of other initiatives, such as sourcing raw materials effectively and at a low cost through strategic sourcing and partnerships.
Efforts to increase funding and cash flow efficiency contributed to a decrease in interest rates. Additionally, the business upgraded its SAP system to SAP HANA and automated a number of operational processes using blockchain and RPAs, earning it recognition from the industry as one of the leaders in digital finance adoption.
Kumar Subbiah said, “I am thrilled to be recognised by CII as one of the leading CFOs of the year. I believe this award is a recognition of all that we have been doing as a company to drive business excellence using a Quality Based Management (QBM) approach that has delivered results for the business. We hope that this award marks another milestone in our journey as we set new benchmarks in the industry in delivering a safe, sustainable, and smarter future.”
The Confederation of Indian Industry (CII) CFO Excellence Awards recognise and acknowledge outstanding capabilities and achievements in the Finance function.
