Adani Power executive director Ravi Sharma resigns

Adani Power today said its Chief Executive Officer and executive director Ravi Sharma has put in his papers due to personal reasons.

Adani Power executive director Ravi Sharma resigns
The company has accepted his resignation as executive director with effect from June 30, it said in a regulatory filing.

“Ravi Sharma is leaving the company for personal reasons,” it noted. He took over as Adani Power CEO in 2010.

An IIT alumnus, Sharma had led the South Asia operations of Alcatel/Alcatel Lucent and Indian operations of Videocon Telecom, among others.

On May 14, the company had announced that Sharma and Vineet Jain have been appointed as executive directors for a period of three years.

According to the filing, Jain leads the development of 3,300 MW power project at Tiroda in Maharashtra and the 1,320 MW power plant at Kawal in Rajasthan.

“After taking over the business development function which was earlier handled by Ravi Sharma, Vineet Jain now assumes the overall leadership role of project implementation, O&M and business development initiatives of the power business of Adani Group,” it said.

Adani Power aims to have 20,000 MW generation capacity by 2020.

Shares of the company closed flat at Rs 48.10 on the BSE.

(curtsey : money control)

Rupesh Yatesh Dalal
Head Research Department

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