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Business News›Industry›Energy›Power›JSW Energy names Sharad Mahendra as next Joint MD & CEO
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JSW Energy names Sharad Mahendra as next Joint MD & CEO
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Synopsis
JSW Energy has announced Sharad Mahendra as the new Joint Managing Director and CEO, succeeding Prashant Jain. Mahendra, the CEO designate, will assume office on February 1, 2024, after Jain steps down on January 31. Prashant Jain had earlier announced his decision to step down from the position to pursue personal interests.
JSW Energy on Friday announced that Sharad Mahendra will be replacing Prashant Jain as a joint managing director and chief executive office.
While Mahendra is now the joint MD and CEO designate of the company, he will take over the leadership role from February 1, 2024 after Jain vacates office on January 31.
Shares of the company jumped on Friday and was trading at 423.70 rupees apiece, up 3.8%, on the BSE at 2:30 pm. The broader BSE Sensex was up 0.7%.
"Mahendra shall be the Joint Managing Director & CEO and a Key Managerial Person of the Company with effect from February 1, 2024. He will take on the role of CEO and MD from February 1, 2024," JSW Energy said in a statement.
Prashant Jain had earlier announced his decision to step down from the position to pursue personal interests.
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Mahendra was the CEO of JSW Steel Coated Products Limited. He has been with the group for nearly 15 years.
"His term was marked by successful project execution to expand capacities organically, as well as acquisition and integration of two assets. The business witnessed a sharp volume growth as well as market share gains under his leadership," the company said.
Mahendra joined JSW Energy Limited as the Chief Operating Officer (Energy Business) in 2017 where he led the power sales, mining, corporate commercial, legal, coal procurement, regulatory and corporate affairs functions.
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