2021-01-05 / HFE Team

Hero Future Energies appoints Srivatsan Iyer as global CEO

Press Release

Hero Future Energies appoints Srivatsan Iyer as global CEO

New Delhi, January 05, 2021: Hero Future Energies [HFE], Renewable arm of the Hero Group, today announces the appointment of Srivatsan Iyer as the global Chief Executive Officer. Srivatsan is well regarded for his ability to strengthen businesses in new geographies and collaborate effectively across cultures. He is in the process of taking over from industry veteran Sunil Jain, who will be handing over complete charge within this month.

Today, Hero Future Energies has renewable assets of around 2 GW and has plans for aggressive growth in the coming years. As various global opportunities emerge, HFE is primed to take advantage of these opportunities by using innovative cleantech solutions and grow its business footprint in India and across the world.

Rahul Munjal, Chairman and Managing Director, Hero Future Energies commented, “I am pleased to announce Sri’s appointment as our global CEO. In this role, he will work towards strengthening HFE’s presence in domestic markets and growing its global presence and will be responsible for the company’s business and financial goals. Sri has the pulse of global market and is well informed about business drivers in various economies. He has vast experience of working in several blue-chip companies in several regions in the world and is well suited to lead HFE as we transform into a global organization. At the same time, I wish Sunil success for his new beginning.”

“Commenting on his appointment, Srivatsan Iyer, global CEO, Hero Future Energies said, “It’s an absolute privilege to join HFE under the leadership of Rahul, and I look forward to working with HFE team, to continue to deliver growth and take the company to the next level.”

 Sri plans to focus on people, strengthening internal business processes, driving project and operational excellence, and increasing innovation, that includes adopting and integrating new technologies to bring down the cost of projects and improve efficiency. He will also work towards making India operations the knowledge, design, and engineering hub for HFE’s global operations. He values integrity, humility, perseverance, agility and is non-hierarchical and process oriented.

Brief bio of Srivatsan Iyer:

Srivatsan last worked for Braskem, the largest petrochemical company in the Americas, based in São Paulo, Brazil, as their Vice President of Strategy & Planning and Innovation & Technology. He joined Braskem 10 years back and has delivered in various roles from Strategy to M&A, R&D, Finance, Planning, Procurement, and IT. Previously, he was the CEO and General Manager of Braskem Europe, where he managed Braskem's European business, based in Frankfurt, Germany. Prior to joining Braskem in 2010, Srivatsan spent 5 years with McKinsey & Company, where he served a variety of clients in the Energy and Chemicals sector, on a range of topics including Strategy and Operations. Before that, Srivatsan spent 8 years working with ExxonMobil Chemical in several roles, starting his career in R&D and Technology Development. Srivatsan’s experience in turning around the business in Europe at Braskem is a great example of his ability to deliver in ambiguous situations. Srivatsan has broad experience in Due Diligence, M&A, JVs and post-merger integrations while working at McKinsey and at Braskem. This includes acquisition of assets in the US and Europe for Braskem and creating JVs for the development of Renewable Chemicals. He strengthened and simplified manufacturing and business processes bringing focus on performance management and results delivery. Srivatsan holds a B.Tech in Chemical Engineering from IIT Madras, MS in Chemical Engineering from Virginia Polytechnic Institute and State University, PhD in Materials Science and Engineering from Virginia Polytechnic Institute and State University, and MBA from the University of Texas at Austin.

About Hero Future Energies:

HFE is a third-generation entrepreneurial company and part of the Munjal family’s Hero Group (the “Group”), which includes Hero MotoCorp the dominant leader in the domestic motorbike industry in India. HFE was established in 2012 as a deliberate strategic decision by the Group to enter the high growth market of power generation from clean and renewable sources of energy.

The current portfolio includes 1.7 GW of wind and solar power and an additional 1.5GW under construction or planned. The Company has a 2022 growth target of 3.5GW of installed and operating capacity. Alongside traditional renewable projects of solar and wind, HFE will look to deliver futuristic renewable energy projects utilising new technologies including battery storage and floating solar.

For media related queries, please get in touch with:

Meenakshi Sarkar| Corporate Communication | Hero Future Energies Pvt. Ltd.

M: +91 8130353831 | E: meenakshi.sarkar@herofutureenergies.com


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