Azure Power CEO Quits; Names Rupesh Agarwal Acting Chief Executive

(RTTNews) - Azure Power Global Limited (AZRE), an Indian renewable power producer, said on Monday that its Chief Executive Officer Harsh Shah has stepped down with immediate effect.

Harsh said his decision is due to unforeseen circumstances and matters beyond his control. He had joined the company as chief executive on July 1 this year.

Azure has appointed Rupesh Agarwal as Acting CEO with immediate effect. The company said it will consider appointment of a new permanent Chief Executive in due course.

In May, the company had faced allegations of potential procedural irregularities and misconduct by certain employees at a plant belonging to one of its units.

Recently, the company also announced a delay in the filing annual report and has not given any timeline as to when it will be able to submit the report.

Agarwal, acting CEO, had joined the company earlier this month as Chief Strategy and Commercial Officer following his role as a Consultant to the Board. He has held leadership positions at Convergence Energy Services, Lightsource India, BDO, and EY.