According to the statement, both will relinquish their roles with the company and its subsidiaries, and Mr Gupta will resign from the board of directors with immediate effect in order to pursue other opportunities.
According to the statement, both will relinquish their roles with the company and its subsidiaries, and Mr Gupta will resign from the board of directors with immediate effect in order to pursue other opportunities.
Alan Rosling, chairman of the board of Azure, will oversee the company in the interim, it informed.
The board has already embarked on a search process to select a new CEO who will lead the company into its next phase of growth and the announcement of the appointment will be made as early as possible, it stated.
Rosling said, “I would like to thank both Ranjit and Murali for their service and their efforts to navigate a challenging market environment. We wish them well for the next stage in their careers. As we look ahead, with 4.5 GW of pipeline, we have tremendous runway for growth in the next three to four years. I look forward to working with the executive leadership team, our employees and the other members of the board in strengthening Azure’s position as a leader in the renewable energy space.”
Gupta said, “Murali and I have been privileged to have had the opportunity to steer this great company at a challenging time and lay the path forward. We leave the company with a great team and are confident in its future.”
Azure builds and operates some of the largest grid-scale renewable power projects in the country, supplying renewable power to government utilities as well as independent industrial and commercial customers.
The company has a pan-India portfolio of over 7.4 GWs, with over 2.9 GWs of operational capacity and 4.5 GWs of pipeline. PTI KKS HVA
