Tata Housing MD & CEO Brotin Banerjee resigns

BENGALURU: Brotin Banerjee, managing director and chief executive of Tata Housing Development Co. Ltd, has resigned citing personal reasons, the company said on Wednesday.

Banerjee’s resignation is the second top-level exit in the group after Tata Power Co. Ltd CEO and managing director Anil Sardana resigned in January, citing personal reasons.

Banerjee was instrumental in reviving and building Tata Housing, a company that was set up in 1984 and then revived in late 2006. He joined Tata Housing as deputy managing director in 2006 and was promoted to CEO and managing director in 2008.

“The board of directors has accepted his resignation and is in the process of appointing a new CEO. In the interim, Mr. Banerjee will oversee the transition in consultation with Banmali Agrawala, president, infrastructure, defence and aerospace, Tata Sons. Santhanam Krishnan, chairman of Tata Housing shared the development in an internal communication to employees,” a statement from Tata Housing said.

A letter written to colleagues by Tata Housing chairman S Santhanankrishnan, which Mint has reviewed, said, “...There is no special review directed by the promoter. We will continue to serve our customers and do our best to meet their expectations.” Tata Housing sells homes from ₹5 lakh to ₹14 crore and has around 70 million sq. ft of projects under various stages of development.