ACC has appointed Sridhar Balakrishnan as its new managing director and chief executive officer (MD & CEO) for five years effective from 21 February 2020.
Sridhar will be taking over the position from Neeraj Akhoury who has resigned with effect from close of business hours of 20 February 2020 to take over the role of MD & CEO of Ambuja Cements. Neeraj will continue as a non-executive member of ACC's board of directors.
Meanwhile, Bimlendra Jha has resigned as the MD & CEO of Ambuja Cements with effect from 20 February 2020 to pursue other interests. Neeraj Akhoury has been appointed as the new MD & CEO and will be taking over from Jha with effect from 21 February 2020. The statements were issued after market hours on Thursday, 20 February 2020.
ACC fell 0.78% to Rs 1412.75.
Ambuja Cement gained 2.09% to Rs 210.10.
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