Ambuja Cements chairman Suresh Neotia has stepped down from the board of the company after serving the cement maker for over two decades.
Mr Neotia relinquished his position due to personal reasons, the company said in a statement. He will be replaced by vice-chairman NS Sekhsaria from Thursday.
Paul Hugentobler, a director of Ambuja Cement, will be the new vice-chairman. The decision was taken on Wednesday at the company’s board meeting. Ambuja Cements is a part of Holcim, which holds around 46% in the company.
Mr Neotia and Mr Sekhsaria established the company in mid-80s. Since then, they have been serving the company as chairman and vice-chairman, respectively.