R P Goenka is keen on stepping down as chairman of CESC

Kolkata: Rama Prasad Goenka, the chairman of CESC Ltd, is keen on stepping down from his post. He gave this indication at the 25^th annual general meeting of the company, citing his advancing years.

"I want to step down and hand over the baton to my younger son, Sanjiv Goenka, the present vice-chairman. I have been thinking along these lines, but no time frame has been decided as yet and the final decision will have to be taken by the CESC board," he said.

So, who will be the vice-chairman once the younger Goenka takes over the reins at CESC? Says senior Goenka: "I will." He left after sitting through the first two-and-a-half hours of the AGM.

Sanjiv Goenka, who now along with the managing director looks after the company's day-to-day functioning, reacted conservatively saying he was not sure whether this will be good or bad for the company.

The RPG group acquired CESC in 1989 and R P Goenka has been holding fort as its chairman since then. Goenka, who has not taken any remuneration as chairman, has been a Rajya Sabha MP for the last three years.