Adani Ports announces changes in its top leadership: Gautam Adani redesignated as Executive Chairman, Karan Adani becomes MD

Mumbai: Adani Ports and SEZ, the port and logistics division of the Adani Group, on Wednesday announced a restructuring in its leadership.

IBNS • 4 Jan 2024, 02:21 am

Adani Ports announces changes in its top leadership: Gautam Adani redesignated as Executive Chairman, Karan Adani becomes MD

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Gautam Adani, the current Chairman and Managing Director, will now be designated as the "Executive Chairman."

Karan Adani, the current Chief Executive Officer, will now hold the position of Managing Director, while Ashwani Gupta has been appointed as the new CEO.

The changes were communicated in a regulatory filing following a board of directors meeting.

Gautam Adani, who would now be the company's executive chairman, will assume the charge "with effect from January 4, 2024, till the end of his current term i.e. up to June 30, 2027", the company informed the exchanges.

Karan Adani, presently the whole-time director and CEO of the company, will take over as the MD "with effect from January 4, 2024, till the end of his current term i.e. up to May 23, 2027", the filing added.

The appointment of Ashwani Gupta as the CEO will also come into effect from January 4, Adani Ports said in the communique, adding that his tenure will last for three years.