Azure Power appoints acting CEO

Harsh Shah stepped down as the CEO effective immediately.

Azure Power has appointed its Chief Strategy and Commercial Officer Rupesh Agarwal as acting CEO, following the immediate resignation of former CEO Harsh Shah.

In a statement, Azure Power said the Board will be considering the appointment of a new permanent CEO “in due course.”

"The Board very much regrets Harsh's unexpected decision to leave the Company after joining only from July 1, 2022. We wish him well for the future. We are pleased that Rupesh is stepping up to lead the Company at this time. The Board will be working closely with Rupesh to ensure the Company's commercial objectives are met as Azure scales its capacity in the growing Indian market," Chairman of the Board Alan Rosling said.

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Agarwal joined the company in early August as chief strategy and commercial officer. He held leadership positions at Convergence Energy Services, an Indian Government-owned company, Lightsource India, BDO, and EY.

He was the founder of zero-emission electric mobility firm AEM Energi & Motum which started India’s first public electric bus trials.

In an earlier statement, the company announced the resignation of Harsh, effective immediately, after his appointment on 1 July.

Harsh said he resigned due to “unforeseen circumstances and matters beyond my control.”