Indian Hotels Company Ltd., which manages the Taj brand, has brought in Puneet Chhatwal to lead the hospitality chain after its former chief Rakesh Sarna quit in May.
Chhatwal has been appointed as the chief executive officer and managing director of the Tata firm to “drive performance and oversee the next phase of expansion”, according to a media statement issued by Indian Hotels. He is currently serving as CEO and board member of Steigenberger Hotels AG.
The change of guard comes after Sarna, a high profile-recruitment by former Tata Sons Chairman Cyrus Mistry, stepped down three months ago citing personal reasons.
A Delhi University graduate, Chhatwal has worked in the hospitality industry for over 30 years for hotel groups in Europe, North America and India, the statement said.
His “extensive experience” and “ability to drive performance, turn around assets and build great teams” will be valuable for Indian Hotels, N Chandrasekaran, the chairman of parent company Tata Sons said in the statement.
Shares of Indian Hotels closed 1.8 percent ahead of the announcement while the country's benchmark BSE Sensex fell 1.14 percent.
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