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Manager Management

Chicago, Illinois, United States
August 31, 2017

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Rangachari S DESIKAN

*** * ******** ******, ********* # 1302

Chicago IL 60605



I have had extensive experience in functional areas of manufacturing and finance. I have also had overall management experience at the board level and as CEO & CFO in several industries. As a CFO, I have executed significant cost optimization, shareholder value enhancement, successful M&A,brought in PE/Strategic partners to our business, IPO and project startup. I have also been successful in major trouble shooting assignments involving tax authorities, bankers, rating agencies, due diligence etc. I have been a critical partner to the CEO in striving for shareholder value enhancement which is the end goal.

Career History

Spice Mobility Limited, Bombay,India Oct 2010 to June 2014


After I took a sabbatical for a year and a half, I rejoined my old employer Spice Group, initially as advisor and later from Feb ’12 onwards as CEO. Spice Mobility Limited is a Bombay listed company with revenues of around $ 500 Mill. I was brought in to turn around the EBITDA of the company. The company had negative EBITDA for 3 quarters prior to my joining. In the subsequent 7 quarters, from a negative EBITDA, I turned it around to a positive EBITDA.

Mastek Limited, Bombay,India May 2007 till Jan 2009

Group CFO & Director Finance

I was responsible for functions covering Finance & Accounts, Treasury, Internal Systems, Management Systems Group, Facilities & Logistics, Projects & Procurement, Investor Relations, Secretarial & Legal and M & A. Mastek is a $ 300 Mill per annum software company. I had successfully concluded 2 overseas acquisitions of $ 40 Mill, including offshore funding and a successful share buyback program.

Quinnox Inc., Naperville, IL & Quinnox India (05/2003 - 04/2007


Global Chief Financial Officer

As CFO for Quinnox Inc. Naperville, IL, USA, I was overseeing worldwide finance function in USA/UK/Japan & India for Quinnox Inc. and all its subsidiaries. My primary role was to help to take the company to the next level and make it IPO ready to unlock the wealth of the shareholders. In the early stages of the company formed by merger of two underlying entities, the company was almost on the verge of bankruptcy, which I successfully avoided by establishing credibility with new bankers and turning the operations around. With operations not breaking out to higher levels even after 4 years, I decided to move on.

Xerox Modicorp Limited.( later Xerox India ) Delhi,India

(08/2002 - 04/2003)

Board Member & Chief Financial Officer - (CFO)

As CFO, I was responsible for the overall fiduciary management and also help the CEO to achieve the shareholder expectations within the framework laid down by the board. Stamford CT based Xerox Corporation made certain submissions to SEC – NYC, which triggered legal investigations into their Indian subsidiary, resulting in ratings downgrade, credit freeze etc. Having had a very successful stint in Xerox India and Xerox UK from 1984 to 1994, I was called back to fix the problems in 2002. Taking the company out of Credit Watch and reinstating credit limits under trying circumstances were the highlights.

Modicorp Limited. Delhi,India & Kathmandu,Nepal

(05/1998 - 07/2002)

Chief Financial Officer

Modicorp is the holding company of several high tech companies including Spice - Cellular Mobile Services Co, Xerox Modicorp - a joint venture co with Xerox USA and other joint ventures with International Papers USA, GBC Corporation USA etc.

On my return from the Middle East, I rejoined the same group as CFO in the holding company and board member of subsidiary companies like Xerox Modicorp. etc.

My major achievement was to get a Singapore Government entity as a 20% partner ($ 27 Mill) with valuation of $ 135 million. Due to market sentiments, the next stage of IPO was deferred and I was shifted to Nepal to start a new cellular project.

In Aug 2002, I was transferred as Board Member and CFO of the Indian subsidiary of the American Xerox Corp. on a full time basis.

Al Ahlia Detergent Company. Sohar, Oman

(05/1996 - 05/1998)

General Manager (CEO)

Al Ahlia detergent Co is a Muscat listed FMCG company in the detergent business.

Just when the plant construction was completed, I joined the company to take it forward. In my 2 years stay, against stiff competition from MNCs, the company managed to reach cash breakeven. Apart from Oman, the markets covered were UAE, Saudi Arabia, Kuwait, Bahrain and Qatar. I consider successful implementation of various management processes (apart from cash breakeven which is a result) as my major contribution.*

Modi International Papers Ltd. (Modi Federal Ltd) Bombay.

(04/1994 - 05/1996)

Chief executive

MIPL (earlier Modi Federal Ltd) is a joint venture between Modicorp Group and International Papers of USA for manufacture and marketing of paper cups.

I was involved right from the project conceptualization stage and convincing Federal Paperboard (Later International Papers USA) to invest in India and later commissioning the project and running the operations.

Establishing a grass root project from scratch within the time and cost estimates was my first major success in the company. Once commissioned, building up a team and smooth running was my next major achievement.

Modi Xerox Limited. (Merged into Xerox Modicorp Ltd., India

(06/1991 - 04/1994)

Financial Controller

Modi Xerox Ltd is a joint venture between Xerox Corp. USA and Modi Holdings.

After a very successful assignment in UK with Rank Xerox UK, I was appointed as the first Indian Financial Controller (CFO role) to manage the profitability and financial systems. Based on my earlier project done in Portugal, I started leasing as a division within the group as a marketing tool. It was so successful that later it was spun off as a separate company. I was also in charge of IT. Extensive computerization was introduced by me. So much of skill sets were added that I initiated the process of outsourcing IT services to the parent company Xerox. Though I started the process, it culminated into a successful company after I took up my next assignment within the group.

Rank Xerox Limited, Marlow,UK,

(03/1990 - 06/1991)

International Assignee

Rank Xerox Limited UK is a subsidiary of Xerox Corpn. USA and operates Indian Xerox and Modi Xerox in India.

After a very successful innings with IXS for 6 years, as a part of global executive program, Rank Xerox moved me to England as an international assignee.

The special assignments given to me like leasing project for Portugal was well prepared and accepted (and later proved a grand success). It was a kind of an international exposure to me and also to prepare me for higher positions within the group. The assignment was very successful and written references are available. I was moved into India as CFO ( Then designated as Financial Controller ) of Modi Xerox, the Indian arm of Xerox in India, which later on became Xerox Modicorp Ltd.

Indian Xerographic Systems Limited ( IXS ), (Later became Xerox Modicorp Limited ), Bombay,India

General Manager & Alternate Director (08/1984 –03/1990)

Indian Xerox is a joint venture between Xerox of USA ( through Rank Xerox UK ) and Modi Holdings Group of India.

As general Manager of the company, I had full responsibility for the assembly plant in Bombay and all corporate financial and matters related to the foreign partner, Govt etc. - in short in all aspects of the business except marketing.

In my 6 years, the shareholders net worth grew from Rs 10 Mill to Rs 300 Million ( $ 20 Mill in 1990) due to tight cost and management control and absolute grip on financial systems. This was so successful that Xerox took me on an international assignment to UK to position me into a more senior role.

Press Metal Corporation Ltd., Bombay,India

(07/1977 - 08/1984)

Manager - Business Planning

Press Metal Corpn was a private company when I joined (later went public) in the field of automotive components and steel structurals business with 3 manufacturing plants and 2000 employees.

I joined the company in materials division and later my scope expanded to the whole company not only in materials but also in related commercial and finance function. Towards the end of my term in the company, I moved into total business planning for the whole company including the new plant planning and IPO etc. as a part of the corporate team.

Enfield India Limited, Madras,India (05/1973 - 07/1977)

Executive Asst. to Joint managing Director

Enfield India is a large motorcycles and agricultural engines manufacturing company with 3 plants and over 3000 employees. I was assisting the joint managing Director in finance, materials and new projects .It was during my tenure that one of the 3 plants came up and on behalf of JMD, I was involved in sorting out various road blocks and smoothening the functioning of various departments.

Date of Birth : January 30, 1950

Nationality / Status : Indian Passport holder – Permanent resident of USA

Education :

R.V.B. Institute, Delft University,Netherlands


Advanced Diploma in Industrial management

This was an advanced diploma in general management as a mid-career advancement program for 6 months.

Having worked in the industry for 10 years, to get an exposure to latest management practices and international management practices, I took this course and came out with 77%.

Indian Institute of Management, Ahmedabad, India (1973)

Master of Business Administration, Management - Finance

This is considered the best business school in India and after my bachelor’s degree in engineering, I joined IIMA.

College of Engineering, University of Madras, India


Bachelor of Engineering, Electronics

I got a first class in Honors program.


English (Fluent)

German ( Poor )

Hindi (Fluent)

Tamil (Fluent)


Multinational experience

Having worked with MNC Multinational Corporations like Xerox USA, International Papers USA, GBC USA (including as board member) etc., I have gained substantial insight into MNC ways of working, culture etc. I have also worked in England (Rank Xerox), Oman and Nepal with multicultural exposures. In Quinnox Inc., I used to spend considerable time in USA since the holding company was US domiciled.

Excellent written references can be made available.

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