Ahmedabad: Torrent Power Ltd, the integrated power utility of the Ahmedabad-based Torrent Group, on Wednesday said chairman Sudhir Mehta will step down from his position and his younger brother Samir, vice-chairman of Torrent Power, will become the new executive chairman.
“The company has undertaken a comprehensive reorganisation at the senior management level and accordingly, has put in place a succession plan to ensure continuity, growth and sustainability of the management team,” the company said in a media statement on Wednesday.
Sudhir Mehta expressed his desire to relinquish his position as executive chairman of the board and the company from the end of 31 March, the company announced on Wednesday.
The board of Torrent Power also approved the appointment of Jinal Mehta, son of Sudhir Mehta, as the managing director. Jinal, 35, is currently a whole time director at the company.livemint