Warbug Pincus-backed logistics services provider Rivigo, which had turned into a unicorn in 2019, on Wednesday said it has onboarded former McKinsey executive Prabhav Sharma as Chief Executive Officer (CEO) for its full truckload (FTL) business.
Sharma’s appointment will provide leadership and strategic direction to scale Rivigo’s asset-light relay-as-a-service model, the firm said in a statement.
Rivigo has been aiming to transform India’s logistics sector with its global-first relay trucking model.
Sharma, who has a career spanning over 15 years in the supply chain industry, has also worked globally for the energy and materials sector.
He has an expertise in developing technology-led solutions to solve problems of network optimization, end-to-end supply chain optimization, and tactical sales and operations optimization, through data analytics and lean management principles, Rivigo said.
Prior to joining Rivigo, Sharma led the digital consulting practice for McKinsey Asia.
He has an MBA from IIM Lucknow with a specialization in operations and finance and is a B Tech (Bachelor of Technology) in Aerospace Engineering from IIT Mumbai.
“With Prabhav’s global experience in handling the supply chain industry across countries and expertise in improving productivity through technology-led solutions, he is best suited to lead Rivigo’s mission to transform the full truckload segment of the Indian logistics sector,” said Deepak Garg, Founder and Chief Executive Officer, Rivigo.
Rivigo said that the FTL segment has gone through a tough period in the last few years, but the segment is expected to do well in the next few years on the back of changing market dynamics. The company said its platform helps stitch the gaps by providing better truck economics to small operators, reliable supply to customers, and a more dignified life for truck pilots.
“Rivigo’s mission to transform India’s logistics sector by making it human has always resonated with me at a deeper level. I’m thrilled to join this team of committed professionals who want to leverage technology and innovation to drive better truck utilizations while improving the lives of thousands of truck drivers,” said Sharma.