Bangalore: Two senior executives of infrastructure developer GMR have resigned their posts, the latest in a series of top-level management moves in the country's infrastructure sector. A Subbarao, chief financial officer of the group, resigned last month. He is moving out of the infrastructure sector, a person with knowledge of the development said.
Vikram Jai Singhania, chief executive of the Hyderabad International Airport, left the company last week to join as president of Mumbai-based tyre-maker Alliance Tire Group. Bangalore-based GMR confirmed the exits. "Subbarao is moving on to pursue different interests," a spokesperson for GMR said, adding that he was replaced last week by Madhu Terdal, chief executive for special economic zone. Subbarao will continue in the services of the GMR Group till July to smoothen the transition, the spokesperson added. Subbarao had joined GMR in December 1999 after working with Kotak Mahindra as head of retail finance operations. He has also worked with ITW Signode, a multinational manufacturer of Packaging Solutions, and audit firm Sudit K Parekh & Co.
Terdal, who has been with GMR for over 13 years, was involved in the company's urban infrastructure projects before taking over as CFO. He has also served as president for GMR Infrastructure, looking into the company's international business.
29/04/13 Sobia Khan/Economic Times
