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Tata Housing CEO and MD Brotin Banerjee has resigned citing personal reasons.
Banerjee had been at the helm of Tata Housing since 2008 and had been with Tata Group for 13 years with stints in Tata Chemicals and Barista Coffee.
While an internal communication sent to the staff of Tata Housing is understood to have stated that Banerjee’s exit had nothing to do with a review being done by Tata Sons, sources within the company said that the resignation may have been prompted by certain questions being raised regarding past decisions.
In a statement, Tata Housing said, “ The Board of Directors has accepted his resignation and is in the process of appointing a new CEO.
In the interim, Banerjee will oversee the transition in consultation with Banmali Agrawala, president, Infrastructure and Defence and Aerospace, Tata Sons.”
This is the second high profile exit from Tata Group in the past few weeks.
Recently, Tata Power chief Anil Sardana had quit citing personal reasons.
According to senior executives within the Tata Group, Banerjee's exit comes at a time when Tata Sons was examining if the real estate company had placed poor bets on a number of projects.
Another Tata Group insider said that the move could be part of Tata Sons' Chairman N Chandrasekaran's efforts to set the Tata Group companies in order.
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