New Delhi: Punj Lloyd Ltd on Wednesday said it has restructured its operating structure to decentralize the firm and to empower regional heads.
Under the new structure, the energy vertical will have two independent operating entities, one for the South and Sourth-East Asia region and another for the Mid-East, Africa and the Commonwealth of Independent States.
The company’s India infrastructure operations will be headed by B.S. Kapur as president and chief executive. Sembawang Engineers and Constructors, which it acquired in 2006, will continue to operate as a separate entity, the company said.
“I think it was the ideal time to break it up into smaller pieces although the pieces are bigger than they used to be,” said company chairman Atul Punj, adding that Punj Lloyd would become like a holding company. Vimal Kaushik will continue as managing director for Punj Lloyd.