Ambuja Cements Reshuffles Leadership with New CEO Vinod Bahety
Portfolio - People | Mar 29, 2025 | EIN
Ambuja Cements, part of the Adani Group, has announced a significant leadership reshuffle by appointing Vinod Bahety as its new CEO and Ajay Kapur as the Managing Director. Bahety, who was previously the Chief Financial Officer of the cement business at Adani Group, will assume the new role beginning April 1, 2025. The reshuffle also includes the appointment of Rakesh Tiwary as Chief Financial Officer and Praveen Garg as a Non-Executive Independent Director. These strategic appointments follow the Adani Group's acquisition of Ambuja Cement in 2022 for $6.4 billion from Holcim. The changes signify Adani Group's ongoing commitment to establishing a formidable presence in the cement industry.
Sectors
- Cement Industry
- Mergers and Acquisitions
Geography
- India – The article focuses on Ambuja Cements, a prominent Indian company, and the appointments are within the Indian context.
Industry
- Cement Industry – The article primarily concerns Ambuja Cements, a major player within the cement industry, discussing leadership changes aimed at enhancing its operational capabilities.
- Mergers and Acquisitions – Reference to Adani Group's strategic acquisition of Ambuja Cement from Holcim in 2022 highlights the relevance of M&A activities in the context of corporate restructuring.
Financials
- USD 6.4 billion – Amount for which Adani Group acquired Ambuja Cements from Holcim.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ambuja Cements | Target Company | Company | India's second-largest cement producer, part of the Adani Group, undergoing a leadership reshuffle. |
| Adani Group | Parent Company | Company | Conglomerate that acquired Ambuja Cement in 2022, led by billionaire Gautam Adani. |
| Vinod Bahety | CEO | Person | Newly appointed CEO of Ambuja Cements, previously served as CFO of Adani Group's Cement business. |
| Ajay Kapur | Managing Director | Person | Building upon previous executive role within Ambuja Cements, now designated as Managing Director. |
| Rakesh Tiwary | Chief Financial Officer | Person | Newly appointed CFO of Ambuja Cements, entrusted with financial leadership. |
| Praveen Garg | Non-Executive Independent Director | Person | Appointed as a Non-Executive Independent Director to bring external perspective and governance. |
| Holcim | Vendor | Company | Previously owned Ambuja Cements before selling to the Adani Group for $6.4 billion. |
| ACC | Subsidiary | Company | A step-down subsidiary of Ambuja Cement that is part of the leadership changes. |