Dutch consumer electronics and healthcare equipment maker Philips IndiaBSE -0.70 % managing director V Raja has put in his papers amidst a string of other senior-level exits.
The parent is also bringing in an expat Daniel Mazon from Latin American to take charge of India operations. The appointment of Mazon is a sharp departure from the usual practice of an Indian holding the top post — this was the case with Philips for almost two decades, said two senior industry executives.
The company’s internal circular said that Raja, who had taken charge of the company in December 2015, is taking an early retirement due to personal reasons on September 30, and Mazon will subsequently take over, said the executives.
Mazon has played a big part in turning around the Latin America business and was heading the healthcare business there, it had said.