Private power producer Torrent Power Ltd on Wednesday announced major management rejig by appointing Jinal Mehta as Managing Director. The elevation of Mehta - currently a whole-time-director in the company is seen as the planned succession at the helm after his father and chairman Sudhir Mehta decided to relinquish his position as Executive Chairman of Torrent Power Board.
The board of directors approved the appointment for a period of five years starting from April 1.
Jinal, 35, holds an MBA degree in international business and finance from University of Technology Sydney, Australia. He has over 11 years of experience in the power sector in both generation and distribution segments.
The 63-year old Sudhir Mehta, son of Torrent founder late U N Mehta, will continue as the “Chairman Emeritus” in the company. His younger brother, Samir Mehta has been appointed as the Chairman of Torrent Power for five years with effect from April 1.
The appointments are subject to shareholders' approval in the company's annual general meeting (AGM).