Karan Adani, son of Adani Group Chairman Gautam Adani, has been appointed as the CEO of Adani Ports and SEZ (APSEZ) with effect from January 1, 2016. He will take over the top job from outgoing CEO Sudipta Bhattacharya, who is moving to the US as the CEO for North America, APSEZ said in a regulatory filing. The Board has accepted the "resignation of Bhattacharya as the CEO of APSEZ with effect from December 31, 2015", it added.
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, who looks after strategic development of Adani ports across India, has been involved in managing various port operations for the firm since 2009. "He 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.
He is an economics graduate from Purdue University, the USA. Bhattacharya, in his new role, will be responsible for driving the significant emerging opportunities between India and the US, it said. Shares of APSEZ were up 0.81 per cent to Rs 260.60 apiece in the afternoon trade at the BSE.
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