CEAT has decided to appoint Anant Goenka to the position of Vice Chairman. During the meeting that took place on March 20th, 2023, the Board of Directors of CEAT decided to appoint Goenka to this newly created post. As a result of this decision, the Board of Directors succession plan for the firm will move forward, and Arnab Banerjee, who is presently serving as Chief Operating Officer, will assume the roles of Managing Director and CEO.
After serving for ten years as Managing Director and CEO of CEAT, Goenka has been appointed to the position, which will take effect on April 1, 2023. In preparation for the next phase of the company’s development, Goenka will now take on strategic tasks at the group level. According to the tyre manufacturer, Goenka led the organisation through a decade marked by significant change, during which the company’s market capitalization increased from INR 3.7 billion to INR 58 billion.
“Anant has had an exciting time at CEAT and has been able to steer the company through a transformative phase where technology, brand building, and capacity creation were the key themes,” said Harsh Goenka, Chairman of CEAT and RPG Enterprises. Goenka also serves as Chairman of RPG Enterprises. In his new role as Vice Chairman of the firm, “I do not doubt that he will be able to devote more attention to specific issues, in addition to his increased involvement in the process of generating new companies at the group level. I hope that Arnab and his team will have much success as they lead CEAT into a new era of growth and quality”.
Regarding Banerjee, the Board of Directors had been preparing him to take over the top job at the company, providing him with experience throughout the organisation in his current role as Chief Operating Officer. Banerjee joined CEAT in 2005 as Vice President – Sales and Marketing and has over 30 years of experience working in leadership positions. Under Banerjee’s leadership, the tyre manufacturer has made advancements in various areas, including marketing, digital capabilities, sales and distribution strategy, production flexibility, and supply chain procedures, according to CEAT.