Gautam Adani resigns as APSEZ Chairman
In a sudden move, Gautam Adani has resigned as Executive Chairman of Adani Ports and Special Economic Zone Ltd. (APSEZ), popularly known as Adani Ports
Mumbai: In a sudden move, Gautam Adani has resigned as Executive Chairman of Adani Ports and Special Economic Zone Ltd. (APSEZ), popularly known as Adani Ports.
Gautam Adani is Founder and Chairman of the Adani Group, a multinational conglomerate involved in port development and operations in India.
In a statement released Tuesday, the company said with this re-designation, Adani will no longer be classified as key managerial personnel.
The company has also appointed Manish Kejriwal as an additional Director (non-executive, independent) for a term of three years.
About Adani Ports
The APSEZ owned by Adani Group is India’s largest private port operator, courtesy the strong support from the present government. It manages 15 ports and terminals across the country—six on the west coast, five on the south coast, and four on the east coast—handling approximately 28% of India’s total port cargo volumes.
The Adani Group is in news for different "scams" that first appeared after the U.S. bases short-seller Hindenburg accused it of buying and selling own shares for market manipulation.
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