Adani plans management shake-up following takeover

Gautam Adani, his son Karan and his nephew Pranav, are expected to join the management boards of ACC Ltd and Ambuja Cements. As part of an overhaul of the top management of both companies, following their takeover by the Adani Group, some existing members of the boards are expected to step down, including the following board members at Ambuja Cements: N S Sekhsaria, chairman, Jan Jenisch, vice chairman, Neeraj Akhoury, managing director and CEO, and Martin Kriegner, director – one source told Mint.

Gautam Adani currently serves on the boards of at least 11 companies, while Karan and Pranav each serve on the boards of at least 10 different firms. Pranav is the managing director of the agricultural, oil and gas business of the Adani Group, and also director of Adani Wilmar Ltd and heads up Adani Realty. Karan is CEO of Adani Ports and SEZ Ltd, the conglomerate’s largest business. He is also director of Adani Airport Holdings Ltd.

“Adani Group is likely to draft new expansion plans for both Ambuja Cements and ACC after the board-level changes. The capacity expansion will be in line with Adani's ambitions in the ports business, infrastructure and realty. For this, a strong, diversified board is required. Apart from members from the Adani family, some new board members may be introduced to the boards of the two companies," said the source, adding that the group does not have immediate plans to combine or merge the two businesses of Ambuja Cements and ACC following the acquisition.