Karan Adani now MD of Adani Ports, Gautam Adani stays as executive chairman

Adani Ports and Special Economic Zone (APSEZ) on Wednesday said that the company has elevated its CEO Karan Adani to the role of Managing Director, a position which was held by Chairman of Adani group Gautam Adani.

Gautam Adani has been re-designated as executive chairman of APSEZ.

"APSEZ, India's largest ports and logistics company, has elevated CEO Mr Karan Adani to the role of Managing Director, a position which was held by Mr Gautam Adani, Chairman of the Adani Group," the company said in a release.

The company further said its board has also approved the appointment of Ashwani Gupta, former global Chief Operating Officer at Nissan Motors, as the new Chief Executive Officer of APSEZ.