B R Jaju is CFO of the year
By Our Corporate Bureau | 10 Nov 2003
Mumbai:
The India CFO Awards instituted by IMA India and American
Express unanimously awarded the CFO of the Year 2003 Award
for financial excellence in business transformation to
B R Jaju, CFO of Crompton Greaves Ltd.
The actions of Jaju, which led to receiving this distinction, consisted to facilitate closure and exit of certain under-performing businesses, innovative fiscal measures to reduce the borrowings and interest costs, disinvestment of unproductive assets and joint venture businesses to generate cash and enhance operating performance as also focus on non-conventional areas like materials management, quality, HR and IT.
This award recognises his successful efforts to restore and improve the profitability and sound financial health of the company. During this period, the shareholders were rewarded in terms of market capitalisation of more than 600 per cent.