Since Anant Goenka has stepped down as the MD and CEO of CEAT, the tyre making company has appointed Arnab Banerjee, the current COO as his next successor
Anant Goenka, the industry stalwart and the heir to an empire worth over Rs 33,000 crore has stepped down from his role as the managing director (MD) and chief executive officer (CEO) of CEAT. The tyre making company has announced that Arnab Banerjee, the current chief operating officer (COO) will be the next MD and CEO of CEAT.
As per official updates, Arnab Banerjee’s appointment as CEAT’s MD and CEO would come into effect from April 1, 2023 for a period of two years effective “based on the recommendation of Nomination and Remuneration Committee and subject to members and other applicable approval(s), if any.” While CEAT has announced that Anant Goenka will continue as the Vice-Chairman of CEAT, many have also questioned the reasons behind his resignation as the MD and CEO of CEAT.
According to the official regulatory filing, Goenka expressed his desire to step down as CEAT’s MD and CEO to focus on initiatives at the group level. The statement reads, “Mr. Anant Goenka, MD and CEO of the Company since April 1, 2012, expressed his desire to handover the charge of the Company to a successor, as the Board may determine, 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 w.e.f. close of business hours of March 31, 2023, while continuing as a Board member.”
For those not familiar with the nuances of CEAT and its leadership, let’s take a look at who is Anant Goenka.
Who Is Anant Goenka – Life, Education And Other Details
Apart from being the next Vice-Chairman of CEAT, Anant Goenka is also known for being the obvious heir of the over Rs 33,000 crore empire of the RPG Group. Son of the RPG Group Chairman Harsh Goenka, Anant Goenka is also known for his leadership and work at the company that transformed the entity in last 10 years. As per media reports, under his leadership, the company’s market cap also reportedly grew from Rs 370 crore to over Rs 5,000 crore.
According to his LinkedIn, Anant Goenka has studied from the NYU Stern School of Business and also has a degree in BSc Finance from The Wharton School. While he is best known for skills, expertise and knowledge in the tyre industry, he also has done an MBA in Management and Strategy from Northwestern University, Kellogg School of Management.
Before becoming a part of CEAT’s leadership, Anant Goenka also headed Zensar Technologies as a Vice Chairman, ATMA India as a Chairman, and KEC International as an Executive Director of Supply Chain.