Adani Group Restructures Ambuja Cements and ACC Leadership
Adani Group: The Adani Group has announced significant leadership changes within its cement companies. Ambuja Cements has appointed Vinod Baheti as its new CEO, while Ajay Kapur has been named Managing Director. These appointments, approved by the Ambuja Cements board, will be effective from April 1, 2025.
Vinod Baheti has also been appointed as an Additional Director and Whole-time Director. Rakesh Tiwari has been appointed as the new Chief Financial Officer (CFO). Furthermore, Praveen Garg has been appointed as a Non-Executive Independent Director to the company's board.
Changes at Ambuja Cements
Vinod Baheti has been appointed CEO of both Ambuja Cements and ACC. The ACC board has approved Baheti's appointment as an Additional Director and CEO for a three-year term. Baheti brings over 25 years of experience and previously served as the Adani Group's Head of Mergers and Acquisitions (M&A).
Adani Group's Cement Strategy and Goals
Having entered the cement industry after acquiring Ambuja Cements from Holcim, a Swiss company, the Adani Group now faces competition from Aditya Birla Group's UltraTech Cement. The Adani Group aims to achieve a production capacity of 140 million tonnes per annum (MTPA) by fiscal year 2028.
Adani Group's Expansion in the Cement Industry
Adani Group acquired Ambuja Cements from Holcim for $6.4 billion in 2022. Subsequently, it acquired several smaller cement players, including Penna Industries, Sanghi Industries, and recently, Orient Cement from the CK Birla Group.
