Rakesh Sarna, managing director and CEO of Taj hotels resigns form his position

Rakesh Sarna, managing director and CEO of Taj hotels resigns form his position

Mumbai,May27:Rakesh Sarna, managing director and CEO of The Indian Hotels Company Limited (IHCL), which runs Taj group, has resigned from his positions thus consequently, also from his position as director of IHCL. The official statement from the group says the reasons of resignation are personal and that the resignation has been accepted by the board of directors.

He has been asked to continue as MD and CEO till September 30, 2017, to which Sarna has agreed. Chairman of IHCL N Chandrasekaran said “Mr Sarna has chosen to resign upon completion of his three-year tenure as managing director and CEO of the company. The board respects his decision and requests him to continue till September 30, 2017, which he has kindly agreed to. The board appreciates his contribution to the company in its transformation to operational excellence.”

Sarna, a former Hyatt Hotel Corporation professional has been a veteran in hospitality industry with over three decades of experience. He joined Taj group in 2014 and had been hailed as the man responsible for turning around the loss-making hospitality business of Tata group into a profitable venture. He was known to be close to former Tata Sons chairman Cyrus Mistry and many claimed was handpicked by Mistry to lead company’s revival.

Sarna without elaborating much on the reasons for his resignation only commented, “It has been an honour to serve the Tata Group and I would like to thank my board members and colleagues for their support during my stint at IHCL.”
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