CEAT appoints Arnab Banerjee as MD, CEO as Anant Goenka resigns
1 min read 20 Mar 2023, 07:12 PM ISTCEAT has appointed Arnab Banerjee as the MD and CEO for a tenure of two years starting 1 April, 2023.
PremiumTyre maker CEAT on Monday announced that Arnab Banerjee has been appointed as managing director (MD) and chief executive officer (CEO) after Anant Goenka resigned.
Arnab Banerjee as the MD and CEO for a tenure of two years starting 1 April, 2023, said CEAT in its corporate filing. Anant Goenka will be relieved of his duties as MD and CEO of the company at the close of business hours of 31 March, 2023, the filing added.
“Anant Goenka, MD and CEO of the Company since April 1, 2012, expressed his desire to handover the charge of the Company to a successor, as the Board may determine, with a view to focus on initiatives at the group level. Accordingly, he sought to be relieved of his duties as MD & CEO of the Company w.e.f. close of business hours of March 31, 2023, while continuing as a Board member," said CEAT in the filing.
Anant Goenka has been appointed as a non-executive non-independent director, designated as vice chairman of the company from April 1, 2023 subject to members and other applicable approvals.
He has been named as the Vice Chairman of the tyre major, the filing added.
“Anant has had an exciting time at CEAT and has been able to lead the company through a transformative phase where technology, brand-building and capacity-creation have been the key themes. As Vice Chairman of the Company, I am sure he will be able to focus more on specific subjects besides his deeper engagement in driving new businesses at the group level. I wish Arnab and his team success as they take CEAT to a new phase of growth and excellence", said Harsh Goenka, Chairman of CEAT and RPG Enterprises.
Arnab Banerjee, currently the COO, has been appointed for a term of two years effective from April 1, 2023. He has executive experience of over 30 years, during which he has worked in CEAT, Marico, and Berger Paints. He joined CEAT in the year 2005 as vice president, sales, and marketing.
On Monday, the company's scrip ended 1.72 per cent down at ₹1,375.75 on BSE.
