New Executive Director and Board Member appointment

Stiebel Eltron India Private Limited (the Company) announces that effective 4th October 2023 it has appointed Mr. Husain Quettawalla as Executive Director and Board Member of Company. Stiebel Eltron has been present in India as a brand over 10 years and has established itself as the leader in the luxury segment of high quality and efficient water heating technologies in India. The Company now has a fully owned subsidiary in India, and it embarks on a new journey under a newly re-constituted Board of Directors and leadership with a firm and long term commitment to the Indian market.

Mr. Husain Quettawalla

Mr. Quettawalla has been instrumental in establishing the Stiebel brand across various markets in India its early days as a distribution and service partner via Aquagreen Solutions and has detailed knowledge about the Company’s products, technologies, and the Indian market environment. He is also the co-founder and CEO of Zanskar Home Solutions, a Company/Brand which operates in the instantaneous water heating and heat pump technology vertical but in the mid/premium segment which is complimentary to the Company’s business. There are several potential areas of cooperation and synergies for the business operations which will be explored to drive much larger scale adoption of such technologies in people’s homes in India.

Ms. Andrea Klein, Board Member Stiebel Eltron India mentions: “The growth in the housing /real estate market in India is fueling high pace adoption of environment friendly and convenient technologies across the heating and cooling appliance sector. We are delighted to have Husain on board for our next phase of growth in India. With his understanding of the products, market, and his deep existing relationships with customers we are confident of a strong and healthy future for our business in an exciting market environment."