Prestige Estates Rejigs Senior Management After CEO Venkata Narayana Resigns

Prestige Estates Projects Ltd. rejigged its senior management team after Chief Executive Officer Venkata K. Narayana resigned to pursue personal interests.

The resignation of Narayana, who assumed the role of CEO in August 2017, effective from 10 May, the real estate developer said in a stock exchange announcement. Before his appointment as CEO, he served as chief financial officer and company secretary during his tenure of over 20 years with the company.

“After thoughtful consideration, I have decided to pursue other interests, including establishing a real estate fund,” Narayana said in his resignation letter.

He, however, will continue as a non key managerial personnel of the company until 10 August to complete the smooth transition.

Following Narayana’s resignation, Prestige Estates made changes to its senior management and appointed various business heads for each vertical and geography.

The changes are as follows:

• Amit Mor, Chief Financial Officer

• Swaroop Anish, Executive Director & CEO – Residential Segment & Business Development

• Juggy Marwaha, CEO – Office Segment

• Muhammed Ali, CEO – Retail Segment

• Suresh Singaravelu – Executive irector & CEO – Hospitality Segment

• Tariq Ahmed, Executive Director & CEO – West India

• Nayeem Noor, Executive Director – Liaison

• V. Gopal, Executive Director – Projects and Planning

• T. Arvind Pai, Executive Director – Legal

Prestige Estates said the next generation of the promoter's family is actively engaged in the business and will play a crucial role in shaping the company's future.

The company said Executive Director Faiz Rezwan is responsible for overseeing the overall construction and execution of projects, including key aspects such as procurements, contracting, and value engineering.

Executive Director Zayd Noaman is tasked with business development and will also oversee corporate finance and strategic investments, while executive directors Zaid Sadiq and Omer Bin Jung will oversee and mentor the Hospitality team, it added.

Prestige Estates said Executive Director Sana Rezwan will focus on charting the growth trajectory for North India, particularly the National Capital Region. Director Uzma Irfan is responsible for corporate communications, marketing, and branding strategies, it noted.

(Send feedback to editor@cornerofficejournal.com)