New Delhi: Karan Adani, son of Adani Group chairman Gautam Adani, has been appointed as the CEO of Adani Ports and Special Economic Zone Ltd (APSEZ) with effect from 1 January 2016. He will take over the top job from outgoing CEO Sudipta Bhattacharya, who is moving to the US as the CEO for North America, APSEZ said in a regulatory filing.

The board has accepted the “resignation of Bhattacharya as the CEO of APSEZ with effect from 31 December 2015", it added. It also approved the “appointment of Karan, executive director (non-board position) as CEO of the company with effect from 1 January 2016," the filing said.

Karan, who looks after strategic development of Adani Ports across India, has been involved in managing various port operations for the firm since 2009. “He aims to build the group’s identity around an integrated logistics business model, backed by his sound understanding of new processes, systems and macroeconomic issues", the filing said. He is an economics graduate from Purdue University, the US.

Bhattacharya, in his new role, will be responsible for driving the significant emerging opportunities between India and the US, it said. Shares of APSEZ were up 0.81% to 260.60 apiece in the afternoon trade at BSE.

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