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Arnab Banerjee appointed as new MD of CEAT amid CEO Anant Goenka Resignation

Share Product Published - 21 Mar 2023 by Tractor Junction

Arnab Banerjee appointed as new MD of CEAT amid CEO Anant Goenka Resignation

Arnab Banerjee Will Take Charge From 1st April 2023 

CEAT announced on Monday that Anant Goenka will step down as managing director (MD) and chief executive officer (CEO) of the tyre maker. Arnab Banerjee will take over his role for a two-year term starting from 1 April, 2023. The company said in its corporate filing that Goenka will complete his duties as MD and CEO by the end of business hours on 31 March, 2023.

CEAT quoted, “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".

The company will appoint Anant Goenka as a non-executive non-independent director from April 1, 2023. He will also serve as the Vice Chairman of the tyre major, subject to members and other applicable approvals. The filing stated this information.

“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.

The company appointed Arnab Banerjee as the COO for a two-year term starting from April 1, 2023. He has garnered experience in CEAT, Marico, and Berger Paints for over 30 years. He joined CEAT in 2005 as the vice president of sales and marketing.

The company’s scrip fell by 1.72 per cent to ₹1,375.75 on BSE on Monday.

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