Job Description

Interim CEO - Global MNC - Windingdown India Operations

Location: Baddi, Himachal Pradesh

Duration: 6 Months

Reporting to: Global/Regional Management of the MNC / Principal

Engagement: Interim / Fixed-Term Assignment

1. Position Overview:

We are seeking an experienced Interim CEO to lead the orderly and commercially optimized wind-down and closure of the India operations of a Global MNC, based at Baddi, Himachal Pradesh.

The Interim CEO will have overall responsibility for managing the India exit process from start to finish, ensuring that the operations are closed in a legally compliant, financially disciplined, commercially efficient and socially responsible manner, while protecting the interests of the global principals.

The role will involve managing the closure of the Baddi operations, sale/disposal of assets including land, buildings, plant and machinery, inventory and other assets, settlement of lenders and creditors, recovery of outstanding amounts, settlement of employee/workmen dues, statutory and regulatory compliances, government liaison and management of all stakeholders associated with the exit.

The successful candidate will effectively act as the CEO and Exit/Closure Leader, taking ownership of all activities required to achieve a smooth, controlled and final exit from India.

2. Key Objectives of the Assignment:

The Interim CEO will be responsible for:

- Developing and executing a comprehensive 6-month India Exit/Wind-Down Plan.

- Ensuring an orderly closure of the Baddi operations with minimum financial, legal and reputational risk.

- Maximizing realization from the sale/disposal of land, buildings, plant, machinery, inventory and other assets.

- Managing repayment/settlement of lenders and other financial obligations.

- Maximizing recovery of receivables and other amounts due to the company.

- Ensuring settlement of employee and workmen dues and statutory obligations arising from closure.

- Managing all legal, statutory, regulatory and governmental requirements connected with the closure.

- Maintaining business continuity and security of assets during the wind-down period.

- Managing all internal and external stakeholders on behalf of the global principals.

- Identifying and mitigating potential litigation, labour, regulatory, tax, environmental and commercial risks.

- Delivering a clean, compliant and commercially optimized exit within the agreed timeframe.

3. Key Responsibilities:

A. Overall Exit Strategy & Execution:

- Conduct an immediate assessment of the India business, operations, assets, liabilities, contracts and stakeholders.

- Prepare a detailed India Operations Wind-Down Master Plan covering the complete closure process.

- Establish timelines, milestones, responsibilities, decision gates and financial targets.

- Develop an exit budget and monitor actual expenditure against approved budgets.

- Establish an appropriate governance and reporting mechanism with the global principals.

- Identify critical path activities and ensure timely resolution of bottlenecks.

- Provide weekly/monthly progress reports to the global management/principals.

B. Asset Sale & Monetization:

Lead the commercial realization of the company's assets, including land and industrial property, factory/building and infrastructure, plant and machinery, vehicles, inventory and raw materials, finished goods, furniture, fixtures and office equipment, scrap and obsolete assets, and intellectual property or other transferable assets, where applicable.

Responsibilities will include:

- Establishing realistic market values and reserve prices.

- Appointing and managing appropriate valuers, brokers, investment advisers, auctioneers and legal advisers.

- Evaluating alternative disposal routes negotiated sale, auction, strategic buyer, asset sale, business sale or other appropriate mechanisms.

- Conducting buyer identification and negotiations.

- Ensuring transparent and commercially optimal transactions.

- Managing documentation, due diligence, title verification and transaction closure.

- Ensuring timely receipt of sale proceeds.

- Maximizing shareholder/principal realization while minimizing transaction costs and risks.

C. Land & Property Disposal:

Specific responsibility for the successful monetization/transfer of the Baddi land and related property assets, including:

- Verification of ownership and title documentation.

- Coordination for valuation and market assessment.

- Identification of prospective buyers/investors.

- Management of brokers, legal advisers and property consultants.

- Resolution of title, land-use, zoning, mutation, registration and other property-related matters.

- Coordination with relevant government/local authorities.

- Negotiation and execution of sale/transfer documentation.

- Ensuring receipt of consideration and completion of all associated formalities.

D. Lenders, Creditors & Financial Settlement:

- Prepare a comprehensive statement of all secured and unsecured liabilities.

- Engage with banks, financial institutions and other lenders.

- Develop settlement/payment strategies in consultation with the principals.

- Ensure release/satisfaction of applicable charges, mortgages, liens and security interests following settlement.

- Manage creditor negotiations and settlement of outstanding obligations.

- Coordinate with Finance, Treasury, Tax and external advisers.

- Ensure appropriate documentation and closure of financial obligations.

E. Recoveries & Receivables:

- Conduct a complete review of outstanding receivables.

- Classify receivables according to recoverability, age and materiality.

- Develop an aggressive but commercially appropriate recovery plan.

- Lead negotiations with customers, distributors, vendors and other counterparties.

- Escalate disputed or delayed receivables where necessary.

- Coordinate legal recovery proceedings where commercially justified.

- Maximize cash recovery before closure.

F. Employee & Workmen Settlement:

The Interim CEO will take overall ownership of the people-related aspects of the closure, working closely with HR and legal advisers. Responsibilities include:

- Develop and execute the employee/workmen exit strategy.

- Ensure compliance with applicable labour and employment laws.

- Calculate and settle salaries, notice pay, retrenchment/closure compensation, gratuity, leave encashment, bonus and other contractual/statutory dues, as applicable.

- Manage negotiations with employees, workmen and representatives/unions, where applicable.

- Coordinate with labour authorities and other government bodies.

- Develop appropriate communication plans to minimize uncertainty and industrial relations risks.

- Ensure orderly handover of company assets and responsibilities.

- Complete employee documentation, statutory filings and exit formalities.

- Ensure that employee-related liabilities are fully identified and appropriately provided for.

G. Government & Regulatory Liaison:

Lead liaison with relevant government and regulatory authorities, including State Government of Himachal Pradesh, local district administration, Labour Department, Industries Department, Pollution Control authorities, Factory Inspectorate, Revenue and land authorities, Municipal/local authorities, GST and Income Tax authorities, PF/ESI authorities, Customs/excise authorities, ROC/MCA and other statutory bodies, banks and regulatory authorities, and any other authority relevant to the closure. The objective will be to ensure that all approvals, permissions, filings, registrations, cancellations and closure certificates are completed appropriately.

H. Legal, Compliance & Risk Management:

- Conduct a comprehensive review of all pending litigation, notices, claims and disputes.

- Identify potential liabilities that could delay or prevent closure.

- Work with external legal counsel to develop resolution/settlement strategies.

- Review material contracts and determine termination, assignment or settlement requirements.

- Ensure closure-related statutory and regulatory filings are completed.

- Address environmental, land, labour, tax, corporate and commercial compliance matters.

- Ensure appropriate documentation and audit trails for all major decisions and transactions.

- Protect the global principals from avoidable post-exit liabilities.

I. Plant & Operational Closure:

- Develop a phased shutdown plan for the Baddi facility.

- Ensure safe cessation of manufacturing and other operations.

- Manage inventory liquidation and disposal.

- Ensure safe decommissioning of plant and machinery.

- Protect company assets during the closure period.

- Manage security and physical control of assets.

- Ensure utilities, service contracts, insurance, leases and other operational arrangements are appropriately terminated.

- Ensure environmental and safety requirements are complied with during shutdown and decommissioning.

J. Stakeholder Management:

The Interim CEO will be the principal point of coordination for global headquarters, regional management, board/owners/principals, employees and workmen, lenders and financial institutions, customers and suppliers, government authorities, labour representatives/unions, lawyers and consultants, property advisers/brokers, potential asset buyers, auditors and tax advisers, and local community and other stakeholders, where relevant.

4. Key Performance Indicators:

Performance will be evaluated against measurable exit objectives, including:

- Completion of India operations wind-down within the agreed timeline.

- Maximum realization from land and other assets.

- Maximum recovery of outstanding receivables.

- Settlement of lenders and creditors within approved parameters.

- Completion of employee/workmen settlements without avoidable disputes.

- Zero/minimum material regulatory or statutory non-compliances.

- Effective management of litigation and contingent liabilities.

- Completion of government and statutory closure requirements.

- Minimization of closure costs.

- Protection of company assets throughout the wind-down.

- No material unresolved issue that could expose the global principals to avoidable post-exit liability.

5. Ideal Candidate Profile:

Experience:

The ideal candidate should have:

- 25+ years of senior management experience, preferably with significant CEO/Business Head/COO experience.

- Proven experience in business closure, restructuring, turnaround, divestment, liquidation, plant closure or India exit situations.

- Experience working with a multinational company or professionally managed large organization.

- Strong experience in industrial/manufacturing environments.

- Experience in handling land/property transactions and asset monetization will be highly desirable.

- Demonstrated experience dealing with lenders, banks, financial institutions and creditors.

- Strong labour relations and employee/workmen settlement experience.

- Experience in dealing with State/Central Government authorities.

- Strong commercial negotiation capabilities.

- Experience managing external legal, financial, tax, valuation and other professional advisers.

Functional Expertise:

Strong understanding of corporate restructuring and closure, asset monetization, industrial property transactions, finance and cash management, debt/lender settlement, receivables recovery, labour and employment matters, industrial relations, legal and regulatory compliance, government liaison, plant shutdown/decommissioning, risk management, and stakeholder management.

6. Leadership Competencies:

The role requires an individual who is:

- Highly execution-oriented rather than purely strategic.

- Comfortable operating in complex and uncertain situations.

- Strong in negotiation and stakeholder management.

- Commercially astute and focused on maximizing realization.

- Decisive and capable of taking difficult closure-related decisions.

- Highly credible with employees, lenders, government authorities and external advisers.

- Comfortable working directly with international principals and senior global executives.

- Strong in crisis management and conflict resolution.

- Hands-on and willing to personally drive critical transactions.

- High on integrity, confidentiality and governance discipline.

- Capable of working under significant time pressure.

7. Preferred Background:

Candidates from the following backgrounds would be particularly relevant:

- CEO/Managing Director of a manufacturing company.

- COO/Business Head who has managed plant closure or restructuring.

- Turnaround/Restructuring professional.

- Senior executive with experience in M&A/divestment.

- Former senior executive of a large industrial/MNC organization.

- Professional with demonstrated experience in India exit/wind-down assignments.

- Senior executive experienced in handling industrial relations, government liaison and asset monetization.

Experience in chemicals, pharmaceuticals, engineering, automotive, industrial products, FMCG or other manufacturing sectors would be advantageous, particularly where the candidate has managed a complex industrial facility.

8. Engagement Parameters:

Position: Interim CEO India Operations Wind-Down

Location: Baddi, Himachal Pradesh

Tenure: 6 Months

Nature: Full-time Interim Assignment

Reporting: Global/Regional Management / Principal

Travel: As required, including travel to corporate offices, government authorities, lenders, prospective buyers and other stakeholders.

The Interim CEO will be expected to be based in Baddi for the majority of the assignment, particularly during the critical operational shutdown, employee settlement and asset disposal phases.