Adani Ports on Wednesday, January 3, 2024, announced that it has redesignated the founder and chairperson of the Adani Group, Gautam Adani as Executive Chairperson, with effect from January 4, 2024, until the end of his current term, i.e., June 30, 2027.
Gautam Adani was earlier the chairperson and managing director of the company.
Karan Adani, the whole-time director and CEO of the company, was also re-designated as the managing director, with effect from January 4 until the end of his term on May 23, 2027.
The board appointed Ashwani Gupta as the CEO of Adani Ports, with effect from January 4, 2024. Gupta will also take charge as the whole-time director of the company for a period of three years, subject to the approval of shareholders.
The board of the company also accepted the resignation of Dr Malay Mahadevia as a director.
The board of the Adani Group company also approved the raising of ₹5,000 crore via the public issuance of secured, rated, listed, redeemable, non-convertible debentures of a face value of ₹1,000 each in one or more tranches.
In another development, the Supreme Court pronounced the judgment in the Adani-Hindenburg case. The court rejected the petition to transfer the probe to CBI and directed market regulator SEBI to finish the remaining two probes in three months.
The shares of the ports company settled 1.5% higher on Wednesday after scaling to a 52-week high of ₹1,144 apiece.
(Edited by : Ajay Vaishnav)
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