Pitamber Shivnani Appointed Managing Director & Chief Executive Officer of GE T&D India Limited

GE today announced the appointment of Pitamber Shivnani as the Managing Director & Chief Executive Officer of GE T&D India Limited (NSE: GET&D, BSE: 522275), effective July 1, 2020. Pitamber joined the Company on January 15, 2020, as the Chief Executive Officer, after 32 years with ABB.

The company also announced appointment of Sanjay Sagar as Independent Director on the Board of the the Company for a period of five years with effect from July 1, 2020 up to June 30, 2025. Sanjay is an internationally renowned executive and an energy sector expert. With a career spanning over 35 years, his last stint was as the Managing Director of Jindal Power Ltd. Prior to that, he was the Joint Managing Director and CEO of the power producer JSW Energy Ltd, from 2012 to 2017.

Speaking about the announcements, Vishal Wanchoo, Chairman, GE T&D India Limited said, "GE has been in India for over 100 years, impacting lives of people through its various businesses. T&D is a crucial division for the company and together we are committed to the Government's vision of supplying safe, reliable and affordable 24x7 power to all the people of the Nation. We would like to congratulate Pitamber on his induction on the Board of the Company as Managing Director & Chief Executive Officer and are confident that his experience as a veteran industry leader will further strengthen GE T&D India Limited's Board. We are also delighted to welcome Sanjay on the Board, his diverse knowledge and versatile professional expertise in the energy sector, will add tremendous value."

"I am delighted and humbled to take on this new role. These are challenging times for the economy and the Industry alike, but I am confident, by taking firm and steady steps in the right direction, we can deliver maximum value for our shareholders, investors and customers. I look forward to lead GE T&D India Limited in its next chapter of growth," said Pitamber Shivnani, Managing Director & Chief Executive Officer (CEO), GE T&D India Limited.

An alumnus of Indian Institute of Technology, Roorkee, Shivnani has also attended the Senior Leadership Development Program at the International Institute of Management Development (IMD) in Switzerland and Harvard School of Business, USA. His leadership will support GE T&D India's vision to be able to bring significant transformation in the business by expanding its manufacturing footprint in India and in continuing to steer a strong and high growth organization.

GE T&D India has a predominant presence in all stages of the power supply chain and offers a wide range of products that include Power Transformers, Circuit Breakers, Gas Insulated Switchgears, Instrument Transformers, Substation Automation Equipment, Digital Software Solutions, Turnkey Solutions for Substation Engineering & Construction, Flexible AC Transmission Systems, High Voltage DC & Services suite of offerings. With 6 manufacturing sites, GE T&D India is future ready to meet the growing demands for equipment and services. GE is focused on introducing Green and Digital Solutions aimed towards making the Indian Grid smarter and environmentally friendly.

Shares of GE T&D India Ltd was last trading in BSE at Rs.75.2 as compared to the previous close of Rs. 78.45. The total number of shares traded during the day was 26213 in over 176 trades.

The stock hit an intraday high of Rs. 78.5 and intraday low of 74.55. The net turnover during the day was Rs. 1967685.

Source : Equity Bulls

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