In a leadership rejig aimed at splitting the Chairman and Managing Director’s posts, Adani Ports and Special Economic Zone Ltd (APSEZ), has elevated Chief Executive Officer Karan Adani and elder son of tycoon Gautam Adani to the role of Managing Director at India’s biggest private port company.
Following the change, Gautam Adani, who was holding the post of Chairman and Managing Director will become the Executive Chairman of APSEZ, one of the fastest-growing integrated transport utilities in the world.
APSEZ has also named Ashwani Gupta, the former global Chief Operating Officer at Nissan Motors, as the new Chief Executive Officer of APSEZ, the port operator said after the appointments were approved by the Board on Wednesday.
APSEZ saw remarkable growth under the leadership of Karan Adani as CEO, significantly contributing to the nation’s infrastructure development.
Beginning his career with the Adani Group in 2009 at Mundra Port, he took over as CEO in 2016, after which the APSEZ portfolio rapidly expanded with the addition of four ports and terminals in India and one each in Sri Lanka and Israel.
Following a series of strategic expansions and partnerships, APSEZ has become India’s fastest growing and largest private sector port developer and operator, with a network of 14 ports along India’s coastline and two ports outside India. Along with its subsidiary, Adani Logistics Ltd, APSEZ is also the largest and most diversified private rail operator in India, with a considerable share in both logistics and the harbour and dredging business.
“Ashwani Gupta’s appointment as CEO is a strategic move to strengthen our global leadership position in the port sector. 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,” Karan Adani said.
Gupta, according to APSEZ, has a track record in knitting together key partnerships worldwide, and brings nearly three decades of experience across the automotive, retail and manufacturing sectors. A globally recognized leader who has led customer solutions through electrification, autonomous driving and digital transformation technologies, he has been at the forefront of industry sustainability, innovation and change, focusing on energy transition and customer centricity, APSEZ added.
On Tuesday, APSEZ said it is aiming to hit 400 million tonnes (mt) of cargo handling at its ports by March as India’s biggest private port operator revises the guidance range of 370-390 mt given at the beginning of the fiscal year, buoyed by the strong growth seen in December and the nine months of the fiscal. On Tuesday, APSEZ said it is aiming to hit 400 million tonnes (mt) of cargo handling at its ports by March as India’s biggest private port operator revises the guidance range of 370-390 mt given at the beginning of the fiscal year, buoyed by the strong growth seen in December and the nine months of the fiscal.
