Gautam Adani’s son is the new CEO of Adani’s port business

Gautam Adani’s Adani Ports and Special Economic Zone (APSEZ) has appointed a new CEO. Karan Adani, the 27 year old scion to Adani Group, will take over as the chief of APSEZ from January 1, 2016.

Karan Adani is an economics graduate from Purdue University in the US and had been working with the group since 2009.

In a report by ET, the company aims to expand in India’s port sector aggressively. The company is now looking for suitable sites to open more ports. Some of the states it aims to expand its presence in include Maharashtra, Karnataka and Andhra Pradesh. Under him, APSEZ is aiming at establishing ports in at least four foreign countries close to India in order to create linkages with Adani Group's Indian assets.

The company’s board has now accepted the resignation of its previous CEO Sudipta Bhattacharya, who served the company for four years. Bhattacharya’s role has been enhanced-- with him moving to the US to take over a group position as the CEO.

Image Credits: Indiatimes.com