GMR in reorganisation mode, to hire CEOs to run businesses
GMR group has announced a reorganisation plan to accelerate its growth in the areas of airports, power plants, road projects, agri business and SEZ, reports Lalatendu Mishra.business Updated: Aug 29, 2007 23:16 IST
GMR group has announced a reorganisation plan to accelerate its growth in the areas of airports, power plants, road projects, agri business and SEZ.
Effective from October 1, CMD GM Rao would assume the role of group chairman. He will move away from routine operations and focus on group strategy. He will also focus on mega projects such as Delhi International Airport (DIAL) and oversee the functions of the Management Assurance Group and Corporate Relations.
Individual business chairmen would be given charge of portfolio of businesses.
K Balasubramanian, now chairman of agri-business, will as a member of the GMR Holding Board support initiatives on strategic reviews and institution building measures.
B Srinivas, now the MD of Delhi International Airports (DIAL), will be chairman, urban infrastructure and highways — including the SEZ business. B V N Rao, now group director, will be chairman, energy and agri (the sugar manufacturing business) of the group.
GBS Raju, now group CFO, will be chairman corporate, responsible for a slew of functions including human resource and corporate communications. He will also be responsible for the international business division such as Sabiha Gocken Airport project in Turkey.
Kiran Grandhi, now MD of the new Hyderabad International Airport at Shamshabad, will be chairman, airports, responsible for DIAL, GMR Hyderabad International Airport and airport business development.
Professional CEOs will drive individual businesses and will be responsible for delivering Annual Operating Plans (AOP).
While CEOs for DIAL, Roads and Agri-business have been appointed, CEOs for the energy sector and GHIAL will be identified shortly, GMR said.
The board of GMR Holding would comprise of group chairman, business chairmen, corporate chairman and upto two external advisors.