IFGL Refractories has introduced a co-president leadership structure at its US subsidiary, Mono Ceramics, appointing Ashok Kumar Kedia and Frank Mitchell following Mukesh Harshadrai Rawal’s move to a senior India role.
IFGL’s 8 August 2026 regulatory disclosure confirms that Rawal, previously President of Mono Ceramics and Head–Americas, would relinquish those positions at the close of 15 August. He was appointed Whole-time Director and CEO India for a three-year term beginning 16 August, subject to the required approvals.
The exchange filing itself does not name Kedia and Mitchell as Rawal’s successors or explain why IFGL selected a co-president structure.
The appointments took effect on August 16, 2026, immediately after Mukesh Harshadrai Rawal ceased to serve as President of Mono Ceramics at the close of business on August 15. IFGL formally disclosed the change to the NSE and BSE under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations.
Ashok Kumar Kedia Brings Finance and Group-Level Experience
Before his elevation, Ashok Kumar Kedia was Vice President of Finance and IFGL USA Group Finance Head, giving him responsibility extending beyond the financial affairs of an individual operating unit.
Kedia, a US citizen of Indian origin, holds a B.Com. (Honours) degree from Calcutta University. His professional credentials include associate memberships of the Institute of Chartered Accountants of India, Institute of Company Secretaries of India, Institute of Cost Accountants of India and the Institute of Management Accountants in the US. He also holds a CPA licence from the State of Montana Board of Public Accountants.
He joined the IFGL Group in April 1998 and has now spent more than 28 years with the organisation. Overall, Kedia has accumulated around 34 years of professional experience, largely connected with the manufacturing sector. IFGL highlighted his hands-on operational and executive exposure across different roles while announcing his promotion.
| IFGL company | US location/market | Publicly described operations | Leadership information |
|---|---|---|---|
| Mono Ceramics Inc. | United States | Material subsidiary within IFGL’s Americas operations; additional product, plant and capacity details should be obtained from the company | Kedia and Mitchell reported as co-presidents; Rawal ceased as president on 15 August 2026 |
| EI Ceramics LLC | Ohio, United States | Designs and supplies continuous-casting products, including tundish nozzles, ladle shrouds, stopper rods and gaskets | Graham Carson has served as president since September 2025 |
| Monocon’s US operations | North America | Part of Monocon’s UK-China-US manufacturing footprint; produces refractory products and engineering/robotics solutions | Operates within IFGL’s wider Monocon business |
How important is Mono Ceramics to IFGL?
Mono Ceramics is a material US subsidiary of IFGL and formed part of the operations previously supervised by Rawal in his combined role as President of Mono Ceramics and Head–Americas.
IFGL’s FY2025-26 annual report also records commercial transactions between the Indian parent and Mono Ceramics. These included ₹69.83 lakh of finished-goods sales to Mono Ceramics, ₹56.35 lakh of commission expense and ₹63.49 lakh of trade and other receivables as of 31 March 2026.
However, these related-party transactions should not be confused with Mono Ceramics’ total revenue or its contribution to IFGL’s consolidated turnover. The publicly available figures do not, by themselves, establish how much group revenue, EBITDA or exports came from Mono Ceramics during the year.
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Frank Mitchell Brings Four Decades of Manufacturing Experience
Kedia will share the leadership role with Frank Mitchell, who was serving as Vice President of Manufacturing at Mono Ceramics prior to the promotion.
Mitchell is among the company's longest-serving executives. He joined the organisation in October 1988, meaning he has spent more than 37 years with the company and has approximately 40 years of total manufacturing-sector experience. According to IFGL's disclosure, Mitchell holds a high school diploma and has also completed college coursework.
His elevation gives the manufacturing side of Mono Ceramics a direct voice at the highest executive level of the subsidiary.
The pairing of Kedia and Mitchell is therefore notable: one executive brings extensive experience in finance and broader US group oversight, while the other has spent decades in manufacturing. IFGL has not, however, announced separate portfolios or a formal division of responsibilities between the two Co-Presidents in its regulatory filing.
Why has IFGL chosen two co-presidents?
IFGL has not publicly explained why it selected two co-presidents instead of naming a single successor to Rawal. The executives’ backgrounds suggest that the structure could combine financial and group-level oversight with plant, manufacturing and customer-facing responsibility in the US.
That interpretation remains an inference unless IFGL confirms the formal division of authority. The company has not publicly clarified whether Kedia and Mitchell will control separate functions, operate jointly, report to different group executives or divide responsibility geographically.
Leadership Change Is Part of a Wider IFGL Reshuffle
The change at Mono Ceramics is also connected to a broader management transition within the IFGL Group.
Outgoing MCI President Mukesh Harshadrai Rawal is not simply departing the organisation. IFGL's Board had approved his appointment as Whole-time Director and Chief Executive Officer – India, with a three-year tenure beginning August 16, 2026 and running until August 15, 2029, subject to the required approvals.
Rawal, a metallurgy graduate and a veteran of the IFGL Group since 1983, had been serving as both President of Mono Ceramics and Head – IFGL Group, Americas. He was scheduled to relinquish those responsibilities at the close of August 15 before taking up his India-focused executive assignment.
How this differs from the EI Ceramics leadership change
IFGL used a more conventional succession model at another US material subsidiary in 2025. When Ian Proudfoot retired as President of EI Ceramics on 31 August 2025, Vice-President of Sales Graham Carson was promoted as the company’s sole president. Proudfoot continued as a consultant for six months to assist with the transition.
The Mono Ceramics change is therefore notable because it replaces one president with two co-presidents, rather than promoting a single executive and retaining the outgoing leader for a defined handover period. IFGL has not disclosed whether Rawal will continue to participate in the US business after becoming CEO India.
IFGL Chooses Continuity Over an External Leadership Search
One of the clearest features of the appointment is IFGL's preference for continuity.
Kedia has been with the group since 1998, Mitchell since 1988 and Rawal since 1983. Instead of introducing a new leadership team during the transition, the company has repositioned executives who collectively hold decades of institutional and industry knowledge.
The structure may also allow Mono Ceramics to bring financial and manufacturing decision-making closer together. However, IFGL has not announced any specific restructuring programme, cost target, investment plan or strategic initiative linked directly to the new Co-Presidents, so it would be premature to attribute such objectives to the appointments.
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Regulatory Disclosure
IFGL reported the appointments under Regulation 30, read with Clause 7 of Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The August 16 communication followed the company's previous disclosures dated April 22 and August 8 concerning Rawal's transition.
With Kedia and Mitchell formally taking charge from August 16, Mono Ceramics enters its next phase under a shared presidency that combines two substantially different but complementary areas of experience — financial leadership and manufacturing operations.
For IFGL Refractories, the move also underscores a broader approach to succession in which experienced executives are being redeployed across key businesses instead of leadership changes being treated as isolated appointments.
