Ambuja Cements Makes Several Changes To Management Amid Internal Rejig
The board appoints CEO Ajay Kapur as managing director and CFO Vinod Bahety as CEO
(The Corner Office Journal) -- Ambuja Cements Ltd., a part of Indian conglomerate Adani Group, announced several changes to its management team in alignment with the group’s internal leadership transitions to foster sustainable growth.
The company’s board appointed its Chief Executive Officer Ajay Kapur as managing director for two years with effect from 1 April, the cement and building materials maker said in a stock exchange announcement.
Kapur, who became CEO on 16 September 2022, will continue in the role until 31 March, it added.
The company said Kapur, who joined Ambuja Cements in 1993, possesses over three decades of expertise in the cement, construction, power, and heavy metals sector.
New CEO
Ambuja Cements said its board appointed Vinod Bahety as CEO with effect from 1 April. His appointment is for three years.
He has been serving as CFO of the company and its subsidiary ACC Ltd. since 16 September 2022. Bahety will relinquish his position as CFO of the company from close of business hours on 31 March.
Bahety, a chartered accountant and a cost and works accountant, has more than 25 years of experience in various leadership positions in the manufacturing and finance industries.
Prior to joining as CFO of cement business, he served as the group head for merger & acquisitions at Adani Group.
New CFO
Ambuja Cements appointed Rakesh Tiwary as CFO with effect from 1 April.
Tiwary, currently CFO of Adani Airports Holding Ltd., is a chartered accountant, cost accountant, company secretary and MBA with around 25 years of experience.
Prior to Adani Group, he worked with various companies like Indian Oil, Reliance Industries Ltd. and JSW Steel Ltd.
Tiwary, who joined Adani Group in February 2016., has expertise in finance, accounts and commercial functions of business, fund raising management, working capital assessment, credit control, taxation and audit, according to the statement.
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