Adani Cements Ltd. has appointed Sukuru Ramarao as Sanghi Industries Ltd.'s new chief executive officer, with effect from Dec. 7.
The company also appointed Sanjay Kumar Khajanchi as chief financial officer of Sanghi Industries, an exchange filing said on Thursday.
Ramarao, who joined Ambuja Cements Ltd. in 1996, is a chemical engineer. He has 37 years of experience in the building material space. In February, he was appointed as the chief operating officer of the cement business of Adani Group.
Ravi Sanghi has tendered his formal resignation from the position of chairman and managing director of the company, which was accepted by the board on Thursday.
Aditya Sanghi, Alok Sanghi, Bina Engineer, and Nirubha Gohil have also tendered their resignation as executive directors. Four independent directors have also resigned, according to the filing.
Ambuja Cements acquired an additional 2.23% stake in Sanghi Industries on Dec. 5. It previously held 54.51% stake in Sanghi Industries. After the additional stake acquisition, Ambuja holds 56.74% of the voting share capital in Sanghi Industries.
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