Blackstone moves Akhil Gupta to role of non-executive chairman

According to an Economic Times report, global buyout fund Blackstone has moved its high-profile head Akhil Gupta to the role of a non-executive chairman. It has appointed two senior managing directors to jointly lead private equity business. Amit Dixit and Mathew Cyriac will take over from Akhil Gupta. They were elevated as MDs after a succession planning that started more than two years ago, the report added.

"There is a natural division of labour between me and Cyriac. The whole process is part of a natural succession plan," the report quoted Dixit as saying.

Read the complete report here