Adani Ports and Special Economic Zone Ltd (APSEZ) has promoted CEO Karan Adani to the role of Managing Director.
This position was previously held by Gautam Adani, Chairman of the Adani Group.
Gautam Adani has been reappointed as the Executive Chairman of APSEZ. According to APSEZ, the company has achieved exceptional growth throughout Karan Adani’s tenure as CEO, considerably contributing to the nation’s infrastructure development.
He joined the Adani Group in 2009 at Mundra Port and was appointed CEO in 2016, following which the APSEZ portfolio rapidly grew with the addition of four ports and terminals in India, one in Sri Lanka, and one in Israel.
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APSEZ’s board has also approved the appointment of Ashwani Gupta, the former Global Chief Operating Officer at Nissan Motors, as the new Chief Executive Officer of APSEZ.
Karan Adani commented: “We are delighted to welcome Ashwani Gupta as the new CEO of Adani Ports and Special Economic Zone Ltd.
“His appointment is a strategic move to strengthen our global leadership position in the port sector. We are confident that his expertise, leadership skills and global exposure will drive exceptional growth and foster new international partnerships aligned with the Adani Group’s vision for expansion and innovation.”
In October 2023, Adani Gangavaram Port announced the enhancement of infrastructure facilities at the premises by inducting new cargo handling equipment.
That same month, APSEZ handled 37 million metric tonnes (MMT) of total cargo, implying a year-on-year (YoY) growth of 48 per cent.
