Tyre maker CEAT Ltd on Monday mentioned its Managing Director and CEO Anant Goenka has resigned to give attention to group actions and has been named as its Vice Chairman.

The corporate’s board has additionally authorised the appointment of Arnab Banerjee, presently Chief Working Officer, as its new MD and CEO.

Goenka expressed his want at hand over the cost of the corporate to a successor with a view to give attention to initiatives on the group stage. Accordingly, he sought to be relieved of his duties as MD & CEO of the corporate with impact from shut of enterprise hours of March 31, 2023, whereas persevering with as a board member, CEAT Ltd mentioned in a regulatory submitting.

“This appointment, efficient 1st April 2023, follows Anant Goenka’s decade-long stint as MD & CEO of CEAT, a section that witnessed a big transformation of the tyre main, in expertise, branding and manufacturing capabilities,” mentioned the corporate in a inventory change submitting.

Anant Goenka, son of RPG Group Chairman Harsh Goenka, will now take up strategic features on the group stage for its subsequent stage of progress. Anant is an MBA from Kellogg College of Administration and a graduate in Economics from the Wharton College, College of Pennsylvania.

“Anant led CEAT by way of a extremely transformative ten-year interval which noticed the market capitalisation of the corporate develop from Rs 370 crore to Rs 5,800 crore. The corporate turned the one tyre maker exterior Japan to obtain the coveted Deming Prize and is now the one tyre facility on the earth to obtain the Lighthouse certification by the World Financial Discussion board,” mentioned the corporate.

“Anant has had an thrilling time at CEAT and has been capable of lead the corporate by way of a transformative section the place expertise, brand-building and capacity-creation have been the important thing themes. As Vice Chairman of the Firm, I’m certain he’ll be capable of focus extra on particular topics in addition to his deeper engagement in driving new companies on the group stage. I want Arnab and his staff success as they take CEAT to a brand new section of progress and excellence”, mentioned Harsh Goenka, Chairman of CEAT and RPG Enterprises.

Arnab Banerjee has government expertise of over 30 years throughout which he has labored in CEAT, Marico and Berger Paints. Arnab is an alumnus of the Harvard Enterprise College, IIM Kolkata and IIT Kharagpur. He joined CEAT in 2005 as Vice President, Gross sales and Advertising and marketing.