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Mr. Prashant Narayan Ranade

Distinguished Alumnus
2007
Mr. Prashant Narayan Ranade
B.Tech., Mechanical Engg., 1975
Mr. Prashant Ranade completed his B.Tech. in Mechanical engg. in the year 1975. Thereafter, he obtained his MS degree from Univ. of Cincinnati, in 1977 and MBA from Xavier University, USA in 1982
Mr.Ranade's career has been primarily with the Seimens group of companies. He is recent past President and CEO of Dematic Corp. (formerly Siemens L&A-Logistics and Assembly), a company with $1.5 billion in sales and 5000 employees, dealing principally in process logistics and automation. Under his leadership, L&A had its first profitable year after two years, culminating in the best year ever for Dematic's business. Dematic is the largest supply chain automation company serving retailers/Wholesalers. As President, Mr. Ranade focused on new product development to achieve twice the market growth rate, cost savings, process improvement and, most importantly, the development of a service based client value proposition across the company.

He was a senior executive in major segments (Industrial, Automation, Medical Imaging Equipment) of Siemens in different contexts including turnarounds, acquisitions and divestitures to organic growth. From 1996 to 1999 he served as Vice President of the Small Motor Division at Rockwell Automation, after which he returned to the Siemens group. He currently serves on the Board of Dematic and a rapidly growing private home builder in Florida.

Mr. Ranade is member of MAPI (Manufacturers Alliance for Productivity Improvement), AMA, AFSM and IEEE (Institute of Electrical and Electronic Engineers) and is involved in not-for-profits organizations( Juvenile Diabetes, Habitat for Humanity, fund raising to promote social and cultural activities). 'Giving back' to alma mater, Mr. Ranade has funded the new Tennis court facility at IIT B and generously contributed to various other developments on the campus. 

He now lives in Grand Rapids and is an adjunct professor at Grand Valley State University where he teaches MBA students. He enjoys reading, travel, physical fitness, tennis and golf. Mr. Ranade has two sons aged 25 and 26.