CORPORATE BUZZ 3rd April 2022

Sumant Sinha Takes Over as ASSOCHAM President

Sumant Sinha, Founder, Chairman and Managing Director of ReNew Power – one of the country’s largest clean energy companies, has taken over as President of the Associated Chambers of Commerce and Industry of India (ASSOCHAM). Mr Sinha, a successful first-generation entrepreneur replaces  Vineet Agarwal, upon completing his  tenure at the chamber. . Ajay Singh, Chairman & Managing Director of SpiceJet, India’s second-largest airline by fleet size is the new Senior Vice-President of ASSOCHAM.

A passionate advocate for solutions related to climate change and sustainable development, Mr Sinha has articulated his ideas at the prestigious thought leadership platforms, including World Economic Forum at Davos, Climate Week NYC and the Financial Times. He is recipient of several prestigious awards in the field of clean energy, including ‘Chairman of The Year’ at the Stevie International Business Awards 2020.

In his leadership role, Sinha will work to strengthen chamber’s four pillars of growth- Sustainable development, entrepreneurship, empowerment and digiization, focosing on green energy innovation .

Sunil Chordia Appointed CII Western Region Chairman 

Sunil Chordia, chairman and managing director of Rajratan Global Wire , has been elected the chairman of the Confederation of Indian Industry (CII) western region for 2022-23. Praveer Sinha, CEO & Managing Director, Tata Power Company , has been elected the deputy chairman for CII Western Region.

Oyo Rejig- Ankit Gupta Named  India CEO

The homes and hotels startup, Oyo has shuffled its brass .Ankit Gupta, currently the CEO of Hotels & Homes India, will take on the role of CEO India. In his new role,  It has also elevated Rohit Kapoor to a global role as the company’s marketing head, from its current position of CEO-India & South East Asia. Kapoor will focus on lifting the brand persona of Oyo to a more aspirational consumer tech brand and increase its affinity to important customer cohorts . He will also focus on introducing Oyo brand to its European vacation homes business.Ankit Tandon will take on the additional responsibility of South East Asia with a specific focus on Indonesia and the Middle East Region as its CEO.

All the three leaders will report to the Founder & Group CEO, Ritesh Aggarwal

CDPQ Appoints Saurabh Agarwal as  India MD  

Montreal-based fund Caisse de depot et placement du Qubec (CDPQ) has appointed Saurabh Agarwal s managing director for India. Agarwal, who has been in charge of CPDQ’s infrstructure activities in South Asia since 2017 , replaces Anita M George, who was executive vice president and deputy head of CPDQ Global.

CDPQ has invested over $ 7 billion in renewable energy, roads and real estate developers in India till the end of last year. CDPQ has partnered with Ajay Piramal’s Piramal Enterprises Limited for private credit finance and is also an investor in Kotak Mahindra Bank Limited

Indiabulls Housing’s  Sameer Gehlaut Quits as Non-Exec Director

Sameer Gehlaut , Founder & Former Chairman of Indiabulls Housing , has resigned from the position of non-executive director of the company. In December 2021, Gehlaut had sold about 12 percent of his stake in the company, bringing his shareholding in the company , down to 9.7 percent . Gehlaut who has resigned from the company board, has requested the company to reclassify him from a promoter to a public shareholder.

Meanwhile, Indiabulls Housing’s Vice chairman & CEO , Gagan Banga, who had resigned from the board of Dhani Services(formerly Indiabulls Ventures) , will focus on the housing finance company.

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