Friday was a day of top-level exits for India Inc. Three companies informed the stock exchanges that their chief executive officers had quit.
While Cairn India said its CEO had quit for “personal reasons”, the other companies — Jet Airways and HeidelbergCement India — did not cite any reasons for the exits.
The Cairn India board said it had accepted the resignation of P Elango, interim CEO and whole-time director, and that Sudhir Mathur, CFO, has taken over the additional responsibility of leading the organisation in the interim.
HeidelbergCement India said that Ashish Guha, its CEO and Managing Director, had notified the board that he had tendered his resignation to HeidelbergCement Group.
The board accepted his resignation, but asked him to continue in the post till a successor is appointed.
According to the Jet Airways note, Ravishankar Gopalakrishnan, CFO and acting CEO, resigned with effect from Friday.
On Thursday, Multi Commodity Exchange of India MD and CEO Manoj Vaish resigned on “health grounds.”
In the last few months, there has been a series of top-level exits, including that of Sanjay Kapoor as chief executive for India and South Asia at Bharti Airtel, Sanjay Aggarwal from Kingfisher Airlines, and Vinita Bali from Britannia. Infosys said its CEO SD Shibulal would quit by January 2015, when his term was to have ended two months later.