Adani Power appoints Anil Sardana as MD, and Additional Director
Adani Power on Friday announced the appointment of Anil Sardana as new Managing Director and Additional Director while incumbent Rajesh Adani will become a non-executive director on the board of the company.
Anil is associated with Adani Group since May 2018 as Managing Director (MD) & CEO of Adani Transmission Limited. Anil has more than 39 years of experience in the infrastructure space, particularly in the Energy and Telecom sector, and has led complex transitions, developments & operations as well as Engineering, Procurement, and Construction assignments. Prior to joining the Adani group, Anil was leading Tata Power as CEO & Managing Director.
The board of directors in its meeting held on Friday also approved the appointment of Shailesh Sawa as Chief Financial Officer of the company with effect from July 11, 2020
Adani Power said in a regulatory filing. The board approved “change in designation of Rajesh Adani, Managing Director of the company, from ”Managing Director” to ”Non-Independent Non-Executive Director” with effect from the close of the office hours on July 10, 2020″, the filing said.
The appointment of Anil Sardana as an Additional Director and thereafter as a Managing Director of the company from July 11, 2020, without any remuneration for a period of three years was approved by the board, the filing added.
The board also approved cessation of Suresh Chandra Jain as Chief Financial Officer of the company from the close of the office hours on July 10, 2020, on account of his transition to a new role. Shailesh Sawa has been appointed as Chief Financial Officer with effect from July 11, 2020, it said.
“The board also approved cessation of Vneet S Jaain as a Whole-time Director of the Company with effect from the close of the office hours on July 10, 2020, on account of his transition to a new role,” the filing stated. The company stated that the decisions of the board taken on Friday are subject to the approval of shareholders.