Anant Goenka Resigns as MD, CEO of CEAT, Becomes Vice Chairman of RPG Group

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Anant Goenka becomes Vice Chairman of CEAT.

Anant Goenka becomes Vice Chairman of CEAT.

Anant Goenka-led CEAT, through a highly transformative ten-year period, saw the market capitalisation of the company grow from Rs 370 crore to Rs 5,800 crore.

CEAT Limited, the flagship company of RGP Enterprises, has announced the key management changes and has appointed Arnab Banerjee as the new CEO and MD of the tyre major for two years. The former MD and CEO Anant Goenka will step down from his role effective March 31. He will continue as the non-executive non-independent director designated as Vice-Chairman of the company from April 1.

Arnab Banerjee, currently the Chief Operating Officer (COO) of CEAT, will succeed Goenka as part of the company’s succession plan. According to the official website, Banerjee brings extensive management experience to his new position having played a key role in the company’s growth and success over the years.

In a statement, the Chairman of CEAT and RPG Enterprises, Harsh Goenka said that as Vice-Chairman of the company, Anant Goenka will be able to focus more on specific subjects besides his deeper engagement in driving new businesses at the group level.

“Anant has had an exciting time at CEAT and has been able to lead the company through a transformative phase where technology, brand-building and capacity-creation have been the key themes. I wish Arnab and his team success as they take CEAT to a new phase of growth and excellence,” Harsh added.

Anant Goenka is the son of Harsh Goenka, Chairman of RPG Group- a Rs 33,000 crore conglomerate. Anant will now take up strategic functions at the group level for its next stage of growth as Vice-Chairman of the company. Anant has done his MBA from Kellogg School of Management and is a graduate in Economics from the Wharton School, University of Pennsylvania. In 2017, he was also recognised by Forbes Magazine as the Next Generation Business Leader of the Year.

Before joining CEAT, Anant worked with KEC International, where he led functions, including supply chain and planning. He also gained his experience by working in MNCs of the likes of Hindustan Unilever Limited, Accenture and Morgan Stanley. He was also the Chairman of the Automotive Tyre Manufacturers’ Association (ATMA) in 2013.

According to the company’s website, Anant led CEAT through a highly transformative ten-year period which saw the market capitalisation of the company grow from Rs 370 crore to Rs 5,800 crore. Under his leadership, the company became the only tyre maker outside Japan to receive the Deming Prize and is now the only tyre facility in the world to receive the Lighthouse certification from the World Economic Forum.

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