Suzlon Energy appoints Amit Agarwal as CFO
Wind Turbine maker Suzlon Energy has appointed Amit Agarwal as its new chief financial officer.
March 22, 2013 / 17:43 IST
Moneycontrol Bureau
Wind Turbine maker Suzlon Energy has appointed Amit Agarwal as its new chief financial officer. Agarwal will report to Chairman Tulsi Tanti and his appointment will allow Kirti Vagadia to focus on his role as Suzlon Group head of finance, overseeing the financial performance of the entire Group, which also includes its German subsidiary REpower Systems, the company said on Friday.He was previously the CFO of Essar Steel. Earlier, he has also been the CFO of Essar's North American operations and Arcelor Mittal Long Carbon Europe segment, it added.Agarwal joins Suzlon Energy at a time the Pune-based firm is going through a debt restructuring, while the overall sector as such is going through a slowdown amid the global economic uncertainties. The company has been under pressure to repay its huge debt and repay its bond holders. In Jan, a consortium of banks approved its Rs 9,500 crore debt restructuring package, giving it some respite.Suzlon shares closed at Rs 13.45 on NSE on Friday, down over 1 percent. The stock had a new 52-week low of Rs 13.20 earlier in the session. Also Read: Techno Electric plans big wind energy expansion in FY14 Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
