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Bangkok, Thailand, July 1^st, 2024 – Indorama Ventures Public Company Limited, a global sustainable chemical company, today announced new leadership for the Combined PET (CPET) segment – a global leader in PET production and recycling, with operations spanning Asia, Europe, and the Americas. Yashovardhan Lohia will be the Executive President of Petchem Special Projects, and Muthukumar Paramasivam and Kumar Sambhaw Ladha have been appointed as the new Presidents and Co-Leaders of the Combined PET segment, effective as of July 1, 2024.

After many years of transformative leadership, outgoing CPET Executive President DK Agarwal will continue to serve Indorama Ventures as Deputy Group CEO and Group CFO, where his vast experience remains a vital asset to the company. Under his stewardship, CPET has seen unprecedented growth, establishing itself as a leader in the petrochemical industry.

This transition marks an enhancement of the company’s strategic directives aimed at fostering growth and innovation. With the next generation of leadership in place, the Combined PET segment is implementing the company’s new strategic vision, IVL 2.0, enhancing operational efficiency, driving global synergies, and agile response to environmental and market dynamics.

“This leadership change is part of our broader initiative to adapt and thrive in a rapidly changing global landscape, ensuring that Indorama Ventures continues to lead with innovation and sustainability in the petrochemical industry. The new leadership’s complementary skills and combined expertise are poised to propel our company forward under the new strategic framework of IVL 2.0,” said Aloke Lohia, Founder and Group CEO of Indorama Ventures. “As we look towards the future, led by our next generation of leadership, we are enthusiastic about the new perspectives and vigor that Yash, Muthu, and Kumar will bring to their roles.”

About Yashovardhan (Yash) Lohia

Yash’s career started in Indorama Ventures’ Packaging division, overseeing the company’s operations across seven countries. He later set up the first Philippines Packaging division in 2013, followed by working in the Fibers business in 2018. During this time, Yash built a personal passion for sustainability, and in 2019, he became the company’s first-ever Chief Recycling Officer, and later Chairman of the ESG Council. Since then, his vision has been instrumental in defining Indorama Ventures path to sustainability, including the ambition to recycle 50 billion polyethylene terephthalate (PET) bottles per year by 2025, and a US$1.5 billion investment to build the recycling infrastructure needed to divert waste from the marine environment.

About Muthukumar Paramasivam

Muthu has over 25 years of service since joining the Indorama Ventures Group in 1998, demonstrating exceptional leadership and expertise. He holds an MBA in International Business from the Indian Institute of Foreign Trade (IIFT) and a B.Tech in Chemical Engineering from NIT Trichy. His career started at the company’s HQ in Bangkok with commercial roles in the PET and Wool Textiles business and has seen him rise through the ranks from roles in Sales and Marketing of PET resins in North America to overseeing the entire Aromatics and PET business in the Americas. Muthu’s strategic acumen and deep industry knowledge have been instrumental in driving growth and innovation in the PET sector. His commitment and leadership continue to propel the company's success.

About Kumar Sambhaw Ladha

Kumar joined the Indorama Ventures Group in 2004 and he has since been a pivotal figure in the company, demonstrating an exceptional career spanning over 19 years, most recently as the Senior Vice President and Business Head Integrated PET Asia and Head of Direct Procurement CPET & Fibers, stationed in Bangkok, Thailand. With an educational background that includes an MBA from Katz Graduate School of Business, an M.S. from Carnegie Mellon University, and a B.Sc. from Monfort School of Business, Kumar has a strong foundation in business and leadership. His extensive experience includes leading roles in EMEA and Asia such as Business Head IPET EMEA. Kumar has also played key roles in the company’s M&A activities, investor relations, and business development. He has a proven track record of driving growth, optimizing costs, and spearheading strategic initiatives. His journey reflects his dedication and expertise in the business sector.