The Hindu Business Line : GMR Group rejigs top brass

New Delhi, Aug. 29 GMR Group, one of the largest infrastructure developers, on Wednesday announced a re-organisation plan aimed at accelerating its ongoing institution-building focus and providing greater impetus for growth.

From October 1, Mr G.M. Rao, currently Chairman and Managing Director, would become Group Chairman a move that would see him shifting from routine operations so as to focus on Group level strategies.

A statement issued today adds that Mr Rao would henceforth, be involved only in key group-level decisions, driving important external relations, monitoring senior leaders and championing key organisation-building initiatives. Besides, he would also oversee the functions of the Management Assurance Group, Corporate Relations and the Group Corporate Social responsibility wing.

Heads for biz

In addition, individual business or corporate chairmen would take responsibility of their respective businesses and functions from October 1. This move is to see Mr Kiran Grandhi, currently Managing Director, Hyderabad International Airport, would now be Chairman Airports responsible for Delhi International Airport, GMR Hyderabad International Airport and Airport Business Development.

Similarly, Mr B. Srinivas, at present Managing Director, Delhi International Airport Limited would now become Chairman, Urban Infrastructure and Highways, including the Special Economic Zone business.

The current Group Chief Financial Officer, Mr G.B.S. Raju, would be Chairman Corporate responsible for human resources, finance, corporate strategic planning, central procurement and corporate communications. Mr Raju would also be responsible for the international business divisions, including the Sabiha Gocken Airport project in Turkey.

Besides, Mr B.V.N. Rao at present Group Director, would now be Chairman Energy and Agri (the sugar manufacturing business) of the Group.

Appointment of CEOs

The Group would appoint professional Chief Executive Officers (CEOs) to drive individual businesses, deliver annual operating plans, and monitor heads of departments and their deputies. The GMR Holding Board is to consist of Group Chairman, Business Chairmen, Corporate Chairman and up to two external advisors.

The changes are an attempt by the Group to capture the opportunities both in India and abroad in the infrastructure sector. “Two-third of the $475-billion earmarked by India for infrastructure development over the next five years would be in the Group’s focus area. This would be in addition to international opportunities as several governments seek private sector expertise to upgrade infrastructure projects.

“It is anticipated that the Group’s operating asset block would increase multi-fold over the next five years, from about Rs 3,600 crore at present,” the statement adds.

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