“Srinivas has already begun his work at Tata Electronics from January 13,” one source cited above told ET. “What led to the switch from Applied Materials to Tata Electronics was his belief in the company’s ability to build an entire industry as semiconductors need that kind of approach and the Tata group is uniquely positioned to make that happen.”
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Applied Materials confirmed Satya’s exit and said Satheesh Kuppurao, vice president of business development and growth, will serve as the country president on an interim basis.
“Srinivas Satya decided to leave Applied Materials and pursue another opportunity. We thank him for his many contributions during his 28+ years at the company and wish him all the best in his next endeavor,” an Applied Materials spokesperson told ET.
ET has learnt that in his new role, Satya will be reporting directly to Randhir Thakur who was appointed Tata Electronics’ chief executive officer in April last year. Thakur was earlier leading Intel Foundry Services as its President and had worked with Intel for over five years. Industry watchers said Thakur’s appointment signaled the conglomerate’s serious intent to make a mark in the semiconductor and electronics business.
Interestingly, Thakur was the executive vice president of the Silicon Systems Group (SSG) at Applied Materials when the company had named Satya as the India country president in 2015. Thakur had even remarked that Satya would help identify key revenue opportunities and ensure sustained growth in the country for the company at the time.
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Satya’s appointment to Tata Electronics comes just a little over a week after it inked a Memorandum of Understanding (MoU) with the Tamil Nadu government during the Global Investors Meet (GIM) wherein it committed to invest Rs 12,082 crore for the establishment of an enclosure manufacturing and mobile phone assembly unit in the Krishnagiri district of Tamil Nadu.
ET had also reported in November last year that Tata Electronics, which is currently the only Indian vendor to Apple, was planning to almost double capacity at its iPhone casing facility.
(With inputs from Suraksha P)
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