Adani Ports and Special Economic Zone Ltd. (NSE: ADANIPORTS) Chairman Gautam S. Adani has been re-designated as Non-Executive Chairman, the company said in a regulatory filing dated August 5.
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According to the filing with the stock exchanges, Adani ceased to serve as a Key Managerial Personnel of the company with immediate effect. The board approved the change during its meeting held earlier in the day.
The company said the change was part of its board and governance restructuring and did not cite any disagreement or operational reason behind the move.
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Adani will continue to serve as Chairman of the board in a non-executive capacity.
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