As Josh Foulger steps down to head Dixon, can leadership churn derail Zetwerk’s IPO momentum and its expansion plans?
Zetwerk has confirmed the departure of Josh Foulger, its Business Head, in a notable leadership change as the manufacturing unicorn moves closer to a planned initial public offering (IPO).
Foulger, who had played a central role in building Zetwerk’s electronics vertical over the past two years, will take up a new position as President of IT Hardware and New Projects at Padget Electronics Private Limited, a wholly owned subsidiary of Dixon Technologies, from February 2026.
Padget Electronics is a contract manufacturer specialising in mobile phones and set-top boxes, operating a large facility in Noida. In his new role, Foulger is expected to oversee the expansion of the subsidiary’s IT hardware and devices portfolio, as Dixon Technologies deepens its presence in consumer and enterprise electronics manufacturing.
Zetwerk’s leadership changes extend beyond a single departure. The company’s chief marketing officer stepped down last month, adding to signs of a reshuffle at the top as the firm gears up for its next phase of growth.
The management changes coincide with ambitious investment plans, with Zetwerk set to deploy around ₹10 billion over the coming year to scale its electronics manufacturing capabilities.
Foulger brings deep industry experience, having served as CEO of Zetwerk. Previously, he had served as managing director at Bharat FIH, part of the Foxconn Technology Group, until 2024. He also held international leadership roles at Nokia where he helped build electronics manufacturing ecosystems in India and Vietnam.
