Pirojsha Godrej will Now Head Godrej Properties
Mumbai: Godrej Properties has elavated Pirojsha Godrej to the post of executive chairman, in one of several top-level executive changes announced on Thursday.
In a notification to the Bombay Stock Exchange, the company said group chairman Adi Godrej is stepping down as director of the company but will continue to provide support as chairman emeri- tus. His responsibilities will be handled by Pirojsha Godrej, who is managing director and CEO.
Mohit Malhotra, an executive director at Godrej Properties, will take on Pirojsha Godrej's responsibilities. All executive changes will be effective from April 1, 2017, the company said.
Karan Bolaria, who heads Godrej Fund Management, a subsidiary of Godrej Pro- perties, has been appointed as the CEO.
“Pirojsha, Mohit, and the Godrej Properties team have delivered tremendous results in a difficult market environment and I’m sure will lead the company to new heights,” Adi Godrej said. “There will be many exciting opportunities in the Indian real estate space in the coming decades and the leadership team at Godrej Properties is well placed to capture these opportunities and successfully build an outstanding company.”