Jagdish Agarwal to step down as Executive Director & CFO of Huhtamaki India

INDIA – Huhtamaki India, a leading manufacturer of sustainable and flexible packaging solutions, has announced that Jagdish Agarwal will step down from his role as executive director and chief financial officer (CFO) effective 1 December 2025.

The company confirmed the leadership change in a regulatory filing, stating that Agarwal will pursue professional opportunities outside the organization.

Agarwal, a seasoned finance professional with over 24 years of experience, has played a pivotal role in strengthening Huhtamaki India’s financial and operational performance.

He holds a bachelor’s degree in Commerce from Calcutta University, is a Chartered Accountant from the Institute of Chartered Accountants of India, and also a Cost and Management Accountant.

His career has spanned key industries including manufacturing, telecom, and banking, with senior roles at Reliance Communications, ICICI Bank, and Owens Corning India, where he also served as CFO prior to joining Huhtamaki.

At Huhtamaki India, Agarwal’s expertise in business planning, corporate finance, and working capital management has been instrumental in driving organizational transformation and strategic growth.

His leadership extended to M&A activity, divestments, and business process optimization, aligning the company’s local operations with Huhtamaki Oyj’s global sustainability-driven strategy.

The announcement comes on the back of a mixed financial performance. In Q1 CY25, Huhtamaki India reported a 123.7% surge in net profit to Rs 26.15 crore, compared to Rs 11.69 crore in Q4 CY24.

However, revenue from operations fell 1.48% to Rs 609.93 crore. Analysts note that the profit growth reflects efficiency improvements and cost optimization, areas where Agarwal has been particularly influential.

Huhtamaki India, part of Finland-based Huhtamaki Oyj, is a critical player in packaging innovation across food, consumer goods, and industrial sectors.

The parent company has been reshaping its portfolio with investments in sustainable packaging, paper-based alternatives, and recyclable flexible packaging as part of its global transition towards circularity.

Agarwal’s departure marks a significant transition as the company seeks to maintain momentum in these areas.

In related leadership changes within the packaging and materials sector, Swedish dry moulded fibre innovator PulPac announced the appointment of Viktor Siewertz as its new CFO.

Siewertz, previously CFO at Nasdaq Stockholm-listed IRLAB Therapeutics, brings deep expertise in capital markets and governance to support PulPac’s scale-up of its fibre-based packaging technology.

Together, these leadership moves highlight a period of strategic transition in the global packaging sector, with companies aligning financial leadership to drive growth, innovation, and sustainability.

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