Gautam Adani's son is now Adani Ports and Special Economic Zone CEO

Karan Adani, son of Adani Group Chairman Gautam Adani, has been appointed as the Chief Executive Officer of Adani Ports And Special Economic Zone (APSEZ) with effect from January 1, 2016.

He will take over the top job from outgoing CEO Sudipta Bhattacharya, who is moving to the US as the CEO for North America, APSEZ said in a regulatory filing.

The Board has accepted the "resignation of Bhattacharya as the CEO of APSEZ with effect from December 31, 2015," it added.

It also approved the "appointment of Karan, Executive Director (non-board position) as CEO of the company with effect from January 1, 2016," the filing said.

Karan, who looks after the strategic development of Adani ports across India, has been involved in managing various port operations of the firm since 2009.

"He aims to build the Group's identity around an integrated logistics business model, backed by his sound understanding of new processes, systems and macro-economic issues," the filing said. He is an economics graduate from Purdue University, the USA. 

Bhattacharya, in his new role, will be responsible for driving the significant emerging opportunities between India and the US, it said.

At 1423 hours, the shares of shares of APSEZ were trading up 1.01% or Rs 2.60 at Rs 261.10 per scrip intraday on BSE.