CEAT Board Re Appoints Mr. Arnab Banerjee as Managing Director & CEO

CEAT Limited has announced key decisions following the Board of Directors meeting held on June 17, 2024. Among the significant outcomes is the re-appointment of Mr. Arnab Banerjee as Managing Director and Chief Executive Officer for another term of one year, effective from April 1, 2025.

This decision is subject to the approval of shareholders and comes based on the recommendations of the Nomination and Remuneration Committee. In addition to Mr. Banerjee’s re-appointment, the Board has also approved several other notable appointments.Including Independent Director for a period of five years starting June 17, 2024.

Company Secretary and Compliance Officer, effective from July 1, 2024 These appointment is also subject to shareholder approval via a Special Resolution.  And also investment in Cleanwin Energy Five LLP.

Read the full release here here.

About Mr. Arnab Banerjee

Mr. Arnab Banerjee, the Managing Director and Chief Executive Officer of CEAT Limited, brings over 30 years of extensive experience in the industry. Before joining CEAT, he held significant roles at Marico and Berger Paints.

He is an alumnus of prestigious institutions such as Harvard Business School (AMP190), IIM Kolkata, and IIT Kharagpur, and also holds a Professional Certified Coach (PCC) Certification.

Arnab Banerjee joined CEAT in 2005 as Vice President of Sales and Marketing. Over the years, he has driven numerous innovations in marketing, digital capabilities, sales strategies, manufacturing, and supply chain processes. His leadership has significantly advanced CEAT's digital journey, including the development of the Dealer Portal, CEAT Website, CEAT Assist App, and CEAT Force.

As a proponent of customer-centric solutions, Mr. Banerjee has been instrumental in CEAT's global expansion, particularly in developed markets. He has fostered a coaching mindset within the company, emphasizing performance management and talent development.

Apart from his professional achievements, Mr. Banerjee has a passion for customer engagement, amateur stage acting, photography, high-altitude trekking, and long-distance running. He enjoys reading on his Kindle and engaging in lively discussions on various topics.

CEAT Board Key Decisions 

CEAT Limited's Board of Directors held a significant meeting on June 17, 2024, where they made several important decisions. These decisions include the re-appointment of a key executive, appointment of new directors, and an investment in renewable energy. Here are the highlights:

Re-appointment of Managing Director & CEO

Mr. Arnab Banerjee has been re-appointed as the Managing Director & CEO of CEAT Limited for another term of one year, starting April 1, 2025. His re-appointment, based on the Nomination and Remuneration Committee's recommendation, awaits shareholder approval.

Appointment of Independent Director

Mr. Praveen Pardeshi has been appointed as an Additional Director in the capacity of Non-Executive, Independent Director for a five-year term starting June 17, 2024. This appointment is subject to shareholder approval through a Special Resolution. Mr. Pardeshi, with Director Identification Number (DIN) 01658052, is not related to any other Director or Key Managerial Personnel of the company and has confirmed his eligibility to hold the position.

Appointment of Company Secretary and Compliance Officer

Mr. Gaurav Tongia has been appointed as the new Company Secretary and Compliance Officer, effective July 1, 2024. Mr. Tongia, a Fellow Member of the Institute of Company Secretaries of India (ICSI) and an Associate Member of the Institute of Chartered Secretaries and Administrators, UK (ICSA), brings 21 years of experience in legal and secretarial functions.

Investment in Cleanwin Energy Five LLP

CEAT Limited has decided to invest ₹45.00 Lakhs in Cleanwin Energy Five LLP, a special purpose vehicle for renewable energy generation. This investment will allow CEAT to become the sole captive member consumer of the energy generated by Cleanwin, in compliance with the Electricity Act/MERC/CERC captive power regulations.

The investment is expected to be completed by September 2024. These strategic decisions reflect CEAT's ongoing commitment to leadership stability, corporate governance, and sustainable growth.

CEAT

CEAT Founded in 1924, is a leading Indian tyre brand and the flagship company of the RPG Group. Dedicated to ensuring safe and smart mobility, CEAT offers world-class products and services across over 110 countries.

With annual revenue of ₹11,315 Cr., the company serves its customers through a wide network of 400+ exclusive outlets, 4500+ dealers, and 51,000+ sub-dealers. CEAT's extensive product range includes tyres for scooters, bikes, 3-wheelers, cars, buses, light commercial vehicles (LCVs), trucks, and tractors, making it a trusted name in the tyre industry.