Chalet Hotels names Shwetank Singh as new MD and CEO from February 1

Shwetank Singh, executive director of Chalet Hotels, will take over as the managing director (MD) and chief executive officer (CEO) of the hospitality chain beginning February 1, the firm said in an exchange filing.

 

Singh will take over from Sanjay Sethi. The board of directors, in a meeting on Thursday, approved the appointment of Singh as the MD and CEO.

 

This step was taken based on the recommendation of the compensation, nomination and remuneration committee.

 

“Over the past two years, we’ve also been thoughtfully preparing for the future of leadership at Chalet,” Sethi, MD and CEO of Chalet Hotels said in the company’s earnings release. 

 

“In alignment with a well-crafted succession plan developed in collaboration with the board, I had communicated my intent not to seek an extension of my current term, which concludes on January 31. It gives me great pleasure to share that Shwetank Singh will take over as MD and CEO effective February 1,” he said.

 

According to the hotel asset manager’s stock exchange filing, Shwetank Singh was inducted into the board as an executive director on October 24 as a part of a well-structured succession plan.