SUZLON PICKS EX-M&M EXEC AS CEO MANUFACTURING DAYS AFTER INDEPENDENT DIRECTOR HIGHLIGHTED 'TRANSPARENCY' ISSUES
Suzlon CEO Appointment: Renewable energy company Suzlon Energy on Monday announced the appointment of its chief executive officer of Manufacturing. This comes less than a month after an Independent Director highlighted transparency issues at the company in his resignation letter.
Last month, Marc Desaedeleer, serving as an independent director on the board of the wind energy major, said that he was very pleased with the operational and financial performance of Suzlon Energy over the last 18 months but he had concerns regarding compliance and transparency.
In his resignation letter, Desaedeleer wrote that several situations occurred where the corporate governance standards applied by the company did not meet my expectations including situations where communications lacked the level of openness and transparency I would have liked to see.
Suzlon CEO Appointment
Suzlon Energy has now informed that Gurpratap S Boparai has been appointed as CEO – Manufacturing, reporting to the Group Chief Executive Officer of the Company, with effect from July 1, 2024 and has been designated as one of the senior management personnel (SMPs) of the Company.
The new CEO pick for Suzlon’s Manufacturing unit, Boparai has a Bachelor’s degree in Engineering (Mechanical) with Honors from Punjab Engineering College and is a MBA from XLRI Jamshedpur majoring in Finance & Marketing. He has an experience of over two decades in manufacturing operations and a track record of achieving operational excellence.
He was last employed with Mahindra and Mahindra Limited, where he was leading the Automotive Businesses in Europe as CEO.
ALSO READ: Suzlon Energy Share Price Target 2024: Power stocks hit fresh 52-week high; BUY, SELL or HOLD?
Suzlon Transparency Issues?
It is worth mentioning here that the renewable energy major announced that at the request of the Chairman of the Company (i.e. Mr. Vinod Tanti), the Chairman of the Audit Committee (i.e. Mr. Gautam Doshi) has agreed to take up the responsibility of evaluating suggestions on corporate governance practices of the Company.
The announcement was made just a few days after Desaedeleer’s resignation.
“In this regard, the Chairman of the Audit Committee has decided to appoint Khaitan & Co, an eminent law firm in India, to conduct a review. To further aid the process, certain additional advisors may be appointed as required from time to time,” Suzlon said last month.
2024-07-01T10:31:03Z dg43tfdfdgfd