SKF AB (Sweden; Stockholm: SKFB;5251R9N7) has shuffled the heads of its key Asian operations, promoting one and bringing in another.

Rakesh Makhija, Managing Director of SKF India, has been promoted to the newly-created position of President, Asia. Mr. Makhija has been largely credited for SKF's rise and subsequent strong performance in the competitive Indian market. As the world's manufacturing market opportunities develop, the President of Asian operations is not only one of the most responsible within SKF but is also likely to become significantly more critical over time. He had been Managing Director of Honeywell India before joining SKF in 2002.

Mr. Makhija will be responsible for coordinating all of SKF's Asian operations, developing a strong infrastructure, and building a presence to support the world's fastest-growing and most promising markets. SKF has built eight of its last nine factories in Asia.

He will be based in Shanghai, China, and report directly to SKF CEO and President, Tom Johnstone. Effective January 1, Mr. Makhija will also become a member of SKF Group Management.


Replacing Mr. Makhija as Managing Director of SKF India is Shishir Joshipura.

Mr. Joshipura comes to SKF from a 26-year career with India's Thermax Ltd., where he has been Executive Vice President since 2003. Since 2006, he had headed up its Energy group, the umbrella unit over one of Thermax' three main operating divisions. Mr. Joshipura is also Chairman of the Process Plant and Machinery Association of India.