Setco Automotive, the flagship company of The Setco Group recently announced the promotion of Mr. Udit Sheth from Executive Director to the role of Joint Managing Director w.e.f July 15, 2015. This announcement was made in the Board of Directors meeting held on 15th July, 2015.
Udit joined Setco Automotive as the Executive Director in 2002 when the annual turnover of the company was Rs. 10 crore. Through his consistent and unparalleled commitment, Udit established himself as an innovative and strategic resource in SETCO’s global business. Over the years, Udit also initiated several strategic initiatives that lead Setco Automotive onto the path of accelerated growth in business and today, the company stands at an annual turnover of approximately Rs.500 crores.
On the occasion of the announcement Mr. Udit Sheth said, “I am glad to become the Joint Managing Director of Setco Automotives and thankful to the Board of Directors to have instilled their trust and belief in me. In the new role, under the able guidance of our CMD, Mr. Harish Sheth and the entire Board of Directors, it will be my constant endeavour to usher in new ideas and processes into the company to ensure that we continue to remain on the same growth trajectory as of today.”
Currently, SETCO has established a global footprint with 4 manufacturing facilities, 2 in India and 1 each in the UK and USA, with its corporate base in Mumbai, India. SETCO is the largest producer of Medium & Heavy Commercial Vehicles (MHCV) clutches in India and among the top 3 manufacturers in the world in terms of volume. Alone, it caters to approximately 85% of MHCV Clutch demand in India and is a critical supplier to India’s leading commercial vehicle manufacturers.