28 December, Mumbai
Karan Adani, son of Adani Group chairman Gautam Adani, was on Monday named as the chief executive of Adani Ports and SEZ (APSEZ) with effect from January 1 to replace Sudipta Bhattacharya, who is moving to the US as chief executive of the group’s North America operations.
The board has accepted the “resignation of Bhattacharya as the CEO of APSEZ with effect from December 31, 2015”, APSEZ said in a stock exchange filing.
It also approved the “appointment of Karan, executive director (non-board position) as CEO of the company with effect from January 1, 2016”, the filing said.
Karan Adani, an economics graduate from the US who has been involved in managing various port operations for the company since 2009, “aims to build the Group’s identity around an integrated logistics business model, backed by his sound understanding of new processes, systems and macro-economic issues”, the filing said.
Bhattacharya will be responsible for driving the significant emerging opportunities between India and the US, it added.