India's Adani Green CEO to step down for new role in group

Adani Green Energy's ADANIGREEN chief executive officer Amit Singh will step down to take up the role of the chief of the international energy business of the Adani Group, the renewable energy firm said on Monday.

He will be replaced by Ashish Khanna starting April 1, who is the current CEO of the group's international energy business.

Amit Singh, who has previously worked as a director at the oilfield services company SLB SLB, was appointed as Adani Green's CEO in May 2023.

The transition comes a month after U.S. authorities accused group founder Gautam Adani and some top executives of Adani Green of being part of a scheme to pay bribes worth $265 million to secure Indian power supply contracts. The Adani group has called the charges "baseless".

However, the indictment had major ripple effects with French oil major TotalEnergies TTE pausing investments in the group, Adani Green shelving a $600 million bond issue, and credit rating agencies flagging risks to the group's access to funding.