India’s Azure Power Finally Finds New CEO

• Azure Power Global has appointed former Head South East Asia and South Asia Business at Vene Energy as its CEO
• Sunil Gupta will also be taking over as the MD of Azure Power India Limited from July 10, 2023
• Azure has also appointed Sugata Sircar as its group CFO and executive director from May 1, 2023

After 8 months of finding a replacement for the company's top most position, India's Azure Power Global Limited has finally settled on former senior executive of Vena Energy, Sunil Gupta to lead it as the chief executive officer (CEO).

Gupta was till now heading the South East Asia and South Asia Business of Vena Energy where he was responsible for managing the company's existing business and developing new projects. Before that, he worked as the group head managing renewable energy business at Singapore headquartered Sembcorp Industries.

Along with holding the CEO position, Gupta will also be taking over as the managing director of Azure subsidiary Azure Power India Private Limited. He will start his new job on July 10, 2023.

Gupta takes over the reins of the company from acting CEO Rupesh Agarwal who was originally appointed as the chief strategy and commercial officer of the company but was asked to replace outgoing CEO Harsh Shah who quit in less than 2 months (see Azure Power's CEO Quits With Immediate Effect).

Additionally, Azure has also announced the appointment of Sugata Sircar as the group CFO and executive director, finance of Azure Power India from May 1, 2023. For this, he resigned as the company's non-executive independent director and member of the Audit & Risk Committee and Capital Committee.

Sircar said he will finalize the company's consolidated accounts and strengthening overall governance and control in his new role.

Azure Power India and its group of subsidiaries will continue to be led by Pawan Agrawal as CFO. He will report to Sircar.