Gati appoints Shashi Kiran Shetty as chairman


Team Udayavani, Jul 25, 2020, 3:35 PM IST

Mumbai: Express logistics firm Gati has appointed Shashi Kiran Shetty, the founder-chairman of Allcargo Logistics which controls the former after a merger, as its chairman.

Allcargo had acquired a controlling 46.83 per cent stake in the Hyderabad-based Gati for Rs 416 crore in April after the successful completion of the open offer, making it one of the largest multimodal logistics players in the country.

The appointment follows KL Chugh, who was the non-executive chairman of Gati for 22 years, stepping down from the board on July 24.

Allcargo in the statement on Saturday said the move will expedite the turnaround of the express logistics company.

The Gati board already represents Allcargo joint managing director Adarsh Hegde and chief investment officer Jatin Chokshi, as independent directors. The other as independent directors are Kaiwan Kalyaniwalla, Cynthia D’Souza, Mohinder Pal Bansal and Dinesh Kumar Lal.

“The new leadership will strengthen the two independent companies, align them to a common culture and values as also stimulate the transformation of the group into one of the largest multimodal logistics service providers in the country.

“It will also elevate us to an unchallenged position in the third-party logistics solutions space,” Shetty was quoted saying in the statement.

The express logistics industry is expected to reach Rs 48,000 crore by 2023.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

MS Dhoni gets treatment for knee pain in Ranchi village, doctor sits under a tree

Bengaluru: Woman from Brahmavar ends life after killing her daughter

Good rainfall: Cropping activity picks up in twin districts

Higgs boson: 10 years after its discovery, why this particle could unlock new physics beyond the standard model

Strong earthquake kills 5 in southern Iran

Karavali coast: Crime news roundup

Bommai reiterates promise to develop Bengaluru into city with amenities of int’l standards


Related Articles More

Reliance Industries stock tumbles over 7 pc; ONGC tanks more than 13 pc

RBI ask banks to test note sorting machines on quarterly basis

India’s manufacturing sector activity eases to 9-month low in Jun amid price pressure

Bajaj Auto sales at 3,47,004 units in June

Govt hikes gold import duty to 15 pc

MUST WATCH

How to earn God’s grace?

NEW BULLETIN 01-07-2022

Heavy Rain Mallar Urdu school Damage

Heavy rain at kaup area

Banana cultivation : Success story of a farmer


Latest Additions

MS Dhoni gets treatment for knee pain in Ranchi village, doctor sits under a tree

Bengaluru: Woman from Brahmavar ends life after killing her daughter

Good rainfall: Cropping activity picks up in twin districts

12 US lawmakers urge Biden to hold India accountable in WTO for its ‘trade-distorting practices’

D K Shivakumar planned criminal conspiracy with aides to hide cash: ED

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.