Anant Goenka, son of RPG Group Chairman Harsh Goenka, will now take up strategic functions at the group level for its next stage of growth
Tyre maker CEAT Ltd on Monday said its Managing Director and CEO Anant Goenka has resigned to focus on group activities and has been named as its Vice Chairman.
The company's board has also approved the appointment of Arnab Banerjee, currently Chief Operating Officer, as its new MD and CEO.
Goenka expressed his desire to hand over the charge of the company to a successor 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 with effect from close of business hours of March 31, 2023, while continuing as a board member, CEAT Ltd said in a regulatory filing.
"This appointment, effective 1st April 2023, follows Anant Goenka's decade-long stint as MD & CEO of CEAT, a phase that witnessed a significant transformation of the tyre major, in technology, branding and production capabilities", said the company in a stock exchange filing.
Anant Goenka, son of RPG Group Chairman Harsh Goenka, will now take up strategic functions at the group level for its next stage of growth. Anant is an MBA from Kellogg School of Management and a graduate in Economics from the Wharton School, University of Pennsylvania.
"Anant led CEAT through a highly transformative ten-year period which saw the market capitalization of the company grow from Rs 370 crore to Rs 5,800 crore. The company became the only tyre maker outside Japan to receive the coveted Deming Prize and is now the only tyre facility in the world to receive the Lighthouse certification by the World Economic Forum", said the company.
"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.
Arnab Banerjee has executive experience of over 30 years during which he has worked in CEAT, Marico and Berger Paints. Arnab is an alumnus of the Harvard Business School, IIM Kolkata and IIT Kharagpur. He joined CEAT in 2005 as Vice President, Sales and Marketing.