Friday, July 12, 2024

Adani Ports: Karan Adani Ascends to MD, While Gautam Adani Continues as Executive Chairman

In a strategic move to separate the roles of Chairman and Managing Director at Adani Ports and Special Economic Zone Ltd (APSEZ), Karan Adani, Chief Executive Officer and elder son of tycoon Gautam Adani, has been promoted to the position of Managing Director. Consequently, Gautam Adani will transition to the role of Executive Chairman of APSEZ, one of India’s largest private port companies.

Ashwani Gupta, former global Chief Operating Officer at Nissan Motors, has been appointed as the new Chief Executive Officer of APSEZ, following board approval. The reshuffle aims to further strengthen the leadership team and drive the company’s growth trajectory.

Karan Adani, who began his career with the Adani Group in 2009 and assumed the role of CEO in 2016, has played a pivotal role in the remarkable growth of APSEZ. Under his leadership, the company expanded its portfolio with the addition of four ports and terminals in India, along with ports in Sri Lanka and Israel.

APSEZ, under Karan Adani’s guidance, has become the fastest-growing and largest private sector port developer and operator in India. The company operates a network of 14 ports along India’s coastline and two ports outside the country. Additionally, as the largest and most diversified private rail operator in India, APSEZ, along with its subsidiary Adani Logistics Ltd, holds a significant share in logistics, harbor, and dredging business.

The appointment of Ashwani Gupta as CEO is seen as a strategic move to bolster APSEZ’s global leadership position in the port sector. Gupta, with nearly three decades of experience across the automotive, retail, and manufacturing sectors, is recognized for his leadership in electrification, autonomous driving, and digital transformation technologies. His expertise in fostering international partnerships aligns with Adani Group’s vision for expansion and innovation.

APSEZ, buoyed by strong growth in December and the first nine months of the fiscal year, aims to handle 400 million tonnes of cargo at its ports by March, surpassing the earlier guidance range of 370-390 million tonnes.

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