Finance, Other, Wind

Suzlon hires new chief financial officer

According to reports, Suzlon Group, the world’s fifth-largest wind turbine maker, has appointed Amit Agarwal as chief financial officer of its wholly owned unit Suzlon Energy Ltd (SUZL.NS).

Agarwal will take over from Kirti Vagadia, who will become the head of finance of Suzlon Group, which also includes its wholly owned German unit REpower, the company said in a statement on Friday.

Agarwal previously worked as chief financial officer of India’s Essar Steel, and in his new role will report to Suzlon Group Chairman Tulsi Tanti, the statement said.

Suzlon’s lenders in January approved a plan to restructure $1.8 billion of debt after the company defaulted on a $200 million convertible bond redemption last October.

The company had net debt of about $2.5 billion at the end of December.



2 thoughts on “Suzlon hires new chief financial officer

  1. Most of the Listed Companies will now indulge ONLY in Financial Engineering as the :
    1). Interest free money of listing is consumed for the Promoter’s quick benefits with poor corporate governance
    2). (Bloated) Balance Sheet Funding with certifications from International auditors etc did not work as the fundamentals were weak and only IIMs or CAs statement will not deliver the Technology based business numbers.
    3). Hope the business community (i.e wrong IPO listed companies and promoters) understand the Technology based number delivery and not the fictitious balance sheet preparation and fooling the world and one fine day, fooling themselves, which kills the reputation of these Promoters, their Children and Grand Children…. Sudden Rich also has a Sudden Death, apart from Generation killings….. As someone said, Many Satyam’s are on the path of Explosion, it is good, to come out with truth at the earliest…… India is unable to recover the bad debts of Rs. 2 Lakh Crore due to the tribunals, wrong financial statements supported by International banking and Audit firms…… Is this the effect of education in Harvard, Oxford, Cambridge, Wharton?? Is this education sustainable? Is this pervert education not a liability for the future generation??

    Posted by praveen Kulkarni | March 23, 2013, 8:23 am
    • .
      It has become a financial game rather then the true business. Such businesses should be allowed to have its natural death rather then putting them in ICCU and giving extra life doses at the cost more expense and end result is surely death. The over oaded ship has to wreck.
      With its death there will be many new comers and the sector will always grow much more and in better way.

      Posted by Jayesh Rathi | March 24, 2013, 12:23 pm

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