MUMBAI: Tata Housing Managing Director and CEO Brotin Banerjee has resigned citing personal reasons.
Banerjee joined the Tata groups realty arm as deputy CEO in 2006 and was promoted as MD and CEO in 2008.
Tata Housing Chairman S Santhanakrishnan, in an internal communication to employees, said Banerjee has resigned for personal reasons, sources said.
Refuting media reports, the chairman clarified that the promoter company Tata Sons has not directed any special review of the realty firm, they added.
When contacted, Tata Housing confirmed the development.
The board has accepted Banerjees resignation and is in the process of appointing a new CEO, a spokesperson said.
“Tata Housings MD and CEO Brotin Banerjee has resigned citing personal reasons. In the interim, Banerjee will oversee the transition in consultation with Banmali Agrawala, President – infrastructure, defence and aerospace of Tata Sons,” the spokesperson said.
In the internal communication, the chairman assured the staff that the company will continue to serve the customers and meet their expectations along with the growth agenda of Tata Housing.
Established in 1984 and revived in late 2006, Tata Housing was one of the first forays by a large Indian business house into real estate.
The company has a portfolio of more than 70 million sq ft under various stages of development with a pipeline of additional 19 million sq ft to be developed.
Tata Housing has a wholly-owned subsidiary Tata Value Homes which builds low-cost and affordable houses.-PTI
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