Adani Ports and Special Economic Zones Limited (APSEZ) has announced a top-level reshuffle with Chief Executive Officer (CEO) Karan Adani elevated to the role of Managing Director.
In a board meeting held on Wednesday, the directors also approved the appointment of Ashwani Gupta, former global chief operating officer of Nissan Motors, as the new CEO.
The position of managing director was earlier held by founder Gautam Adani (who was the chairman and MD).
He has now been re-designated ‘executive chairman’ of the company.
Adani Ports said in a statement after market hours that under the leadership of Karan Adani as CEO, it has experienced remarkable growth, which has contributed significantly to the country’s infrastructure development.
Karan Adani, who started his career with the group in 2009 at Mundra Port, took over as CEO in 2016.
APSEZ said it has rapidly expanded its portfolio with the addition of four ports and terminals in India, one in Sri Lanka and one in Israel.
APSEZ has 14 ports along India’s coastline and two ports outside India.
Commenting on the appointment of Gupta, Karan Adani, who is the elder son of Gautam Adani, said, “His appointment is a strategic move to strengthen our global leadership position in the port sector.
Besides being a subsidiary of Adani Logistics Limited, APSEZ is India’s largest and most diversified private rail operator, with a strong presence in both logistics and the port and dredging business.
The company noted that following a series of strategic expansions and partnerships, it has become India’s fastest-growing and largest private-sector port developer and operator.
“We are confident that his expertise, leadership skills and global exposure will drive exceptional growth and foster new international partnerships aligned with the Adani Group’s vision for expansion and innovation.”
