Duroflex elevates Jacob George as Chairman & Managing Director; Mathew Chandy steps down

In his new role, George succeeds Mathew Chandy, who steps down as CMD after a decade of leading the company. “Chandy, who led the company’s transformation and exponential growth fuelled by a 10X mindset, will continue to contribute to the organisation as a whole-time Director,” the company said. 

It added, “The succession change, approved by the board of directors, is part of a strategic strengthening of the leadership that has successfully attracted talent with rich industry experience and built a strong team to steer the organisation into its next phase of growth.” 

 George has been serving as whole-time Director - Growth & Strategy holds over a decade of leadership experience within Duroflex. “His most notable achievements include leading the expansion into western India and acquiring and scaling manufacturing facilities in central India and overseeing the company's digital transformation. He has been responsible for leading partnerships including collaborations with IPL franchises,” the company said. 

Commenting on the leadership transition, Chandy said, “Leading Duroflex through a decade of transformation has been a privilege of a lifetime. Duroflex today stands on a robust financial foundation, having achieved a CAGR of 21.97% over the last five years. During this period I have watched Jacob lead with vision, strategic acumen and operational excellence needed to take the company to even greater heights.” 

He added, “Jacob has been instrumental in driving some of the company’s strategic projects in recent years. I am confident that under his leadership, Duroflex will aim to set new standards for innovation, growth and customer-centricity in the industry. As I pass on the baton, I look forward to supporting Jacob and the team in this exciting new chapter.” 

George also expressed, “I am deeply honoured to take on this responsibility at such an exciting time for Duroflex. We have built a sound foundation financially, operationally and through the strength of our teams. Duroflex with its award winning sleep solutions have helped us stay relevant with the evolving consumer needs. The opportunities in India’s sleep solutions market are immense and I am energized by the challenge of leading our next phase of growth. I am grateful for Mathew's mentorship and the trust placed in me by our Board. Together, we are ready to power the journey ahead." 

Sridhar Balakrishnan, Chief Executive Officer of Duroflex Group also commented, “The elevation of Jacob George embodies our core values of youth and dynamism as engines for accelerated growth. Having worked shoulder-to-shoulder over the years, Jacob and I have built a strong partnership and shared vision for the organisation. 

With Jacob at the helm and a fortified leadership team we will aim to execute sharper strategies and strengthen Duroflex’s position as a consumer brand”