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Indian Hotels’ MD and CEO Rakesh Sarna resigns

Indian Hotels Co. Ltd (IHCL), a part of the Tata group, on Friday said its managing director and chief executive Rakesh Sarna had resigned for personal reasons.

“The board of directors have taken on record his resignation, and his resignation will be effective from close of business hours on 30 September 2017,” the company said in a filing to BSE. Tata Sons Ltd and IHCL chairman N. Chandrasekaran said Sarna had chosen to resign on the completion of his tenure. “The board respects his decision and has requested him to continue till 30 September 2017 which he has kindly agreed to,” said Chandrasekaran.

 Sarna came on board at the Tata group firm in August 2014 after being handpicked by ousted group chairman Cyrus Mistry to replace Raymond Bickson, the then CEO and MD.