JSW Energy names Sharad Mahendra as joint MD and CEO designate, effective February 1

In an interview with CNBC-TV18, Prashant Jain, Joint Managing Director and CEO of JSW Energy, explained, "It has been personal reasons because I wanted to pursue my personal goals. It has been 31 years in the industry, 28 years in the JSW Group, I have seen the group rising and I could play some important meaningful role during this growth journey. Now it was time to handover to the next leadership and that's where I see the company at this point taking major strides in the expansion and also in the energy transition. So the future is absolutely very, very rock solid and bright."

Sharad Mahendra, aged 57, has 33 years of experience in organisational strategy, business growth, execution, sales and marketing, and people development. His educational background includes a BE in Mechanical Engineering from NIT, Allahabad.

Mahendra's career included roles in the steel, power, chemicals, and the automobile industries. He spent 15 years with the JSW Group.

He most recently served as the CEO of JSW Steel Coated Products Ltd, a 100% subsidiary of JSW Steel Ltd, and had also served as JSW Energy as the Chief Operating Officer (Energy Business) in 2017 where he led the power sales, mining, corporate commercial, legal, coal procurement, regulatory, and corporate affairs functions.

In 2019 he was appointed as a Whole-Time Director of the company. In the past, Mahendra has been on the board of APL Apollo Tubes Ltd and has worked with Phillips Carbon Black Ltd, JSW Steel Ltd, Escorts Ltd, and Yamaha Motors Ltd in various capacities.

Shares of JSW Energy Ltd ended at ₹418.55, on the NSE, lower by 1.40%. It has gained over 8% in the last one month.