BUSINESS
Veteran businessperson Praveer Sinha was re-appointed as the Chief Executive Officer (CEO) and Managing Director (MD) of Ratan Tata-led group subsidiary Tata Power this week.
Tata Power, with a market cap of around Rs 60,000 crore, has reasserted its confidence in the leadership ability of Praveer Sinha. The veteran businessperson was re-appointed as the Chief Executive Officer (CEO) and Managing Director (MD) of Ratan Tata-led group subsidiary Tata Power this week.
Sinha will helm the century-old power utility company for at least 4 more years with his appointment from May 1, 2023, to April 30, 2027, Tata Power said in a regulatory filing. Sinha was kept in the leadership role on the basis of the “recommendation of the Nomination and Remuneration Committee, the Board, at its meeting held on March 30, 2023”.
Under Sinha’s leadership, Tata Power is “transforming itself from a century-old power utility company into a new-aged sustainable, technology-oriented and customer-centric green energy solutions company,” the company said.
Praveer Sinha was at the forefront of electricity reforms in North Delhi as CEO of Tata Power Delhi Distribution Ltd., impacting a population of around 60 lakh. Under his leadership, TPDDL was recognised as ‘Best Power Utility in Asia’ on multiple occasions. An expert of the power sector, he has played a key role in development of nearly 10,000 MW of Power Generation Projects across states like Jharkhand, Orissa, Karnataka and West Bengal and also Hydro Projects in Nepal and Bhutan apart from India.
Praveer is deeply involved in CSR activities and has a “deep commitment to empower people”. This has led him to transform “the lives of nearly 30,000 people on an annual basis,” as per TPDDL website. These include child education programs, skill enhancement, innovative employment and entrepreneurship opportunities, and encouraging scientific farming practices.
Praveer is an Electrical Engineer and holds a PhD from the Indian Institute of Technology, Delhi. He also earned a Masters of Business Law degree from National Law School, Bengaluru. He is a visiting Research Associate at the prestigious Massachusetts Institute of Technology (MIT) in Boston, USA. As per Tata Power annual report 2021-22, Praveer Sinha was awarded a total compensation of over Rs 7 crore 92 lakh (Rs 7,92,96,184) in FY22.
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