Ambuja Cements Appoints Vinod Bahety As New CEO; Ajay Kapur Named MD

In addition to this leadership shift, Ambuja Cements has appointed Rakesh Tiwary as the new Chief Financial Officer (CFO) and Praveen Garg as a Non-Executive Independent Director for a three-year term

Bahety, who currently serves as the CFO of the Cement business since September 16, 2022, brings over 25 years of leadership experience in the manufacturing and finance sectors

Source : Ambuja Cements

Ambuja Cements, a part of the Adani Group, has announced a major leadership restructuring, appointing Vinod Bahety as its new Chief Executive Officer (CEO) and designating the current CEO, Ajay Kapur, as the company’s Managing Director.

The company’s board approved the "Appointment of Vinod Bahety as Additional Director and Whole-time Director and Chief Executive Officer of the Company for a term of three years", the company said in a regulatory filing.

In addition to this leadership shift, Ambuja Cements has appointed Rakesh Tiwary as the new Chief Financial Officer (CFO) and Praveen Garg as a Non-Executive Independent Director for a three-year term.

Meanwhile, ACC, a subsidiary of Ambuja Cements, announced the cessation of Ajay Kapur’s role as Whole-time Director and CEO. The ACC board also approved Vinod Bahety’s appointment as Additional Director, Whole-time Director, and CEO, effective from April 1, 2025.

Bahety, who currently serves as the CFO of the Cement business since September 16, 2022, brings over 25 years of leadership experience in the manufacturing and finance sectors. Prior to his role as CFO, he served as the Group Head for Mergers and Acquisitions at Adani Group.

About Adani Group Led Ambuja Cements

Adani Group, led by billionaire Gautam Adani, entered the cement industry in September 2022 after acquiring Ambuja Cements from Swiss firm Holcim for $6.4 billion (approximately Rs 51,000 crore). The group has since been expanding aggressively, acquiring smaller competitors like Penna Industries, Sanghi Industries, and Orient Cement (a CK Birla Group firm). Its subsidiary ACC also recently acquired Asian Concretes and Cements.

Adani Group aims to challenge the dominance of Aditya Birla Group’s UltraTech Cement, with plans to achieve a manufacturing capacity of 140 million tonnes per annum (MTPA) by FY28.