Karan Adani appointed CEO of Adani Ports

Karan Adani, son of Adani Group chairman Gautam Adani, has been appointed as CEO of Adani Ports and SEZ (APSEZ) with effect from 1 January 2016. He will take over 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 "appointment of Karan, executive director (non-board position) as CEO of the company with effect from 1 January 2016," the filing said, adding that the board also accepted the "resignation of Bhattacharya as the CEO of APSEZ with effect from December 31, 2015."

Karan, an economics graduate from Purdue University, the USA, currently looks after strategic development of Adani Ports across India. He has been involved in managing various port operations for the firm since 2009, the release said.

"He aims to build the group's identity around an integrated logistics business model, backed by his sound understanding of new processes, systems and macro-economic issues", the filing said.

Bhattacharya, in his new role, will be responsible for driving the significant emerging opportunities between India and the US, it said.

Shares of APSEZ rose 0.81 per cent to Rs260.60 in the afternoon trade on the BSE.