News: CFO of HPL quits amid stake sale delay

C-Suite

CFO of HPL quits amid stake sale delay

Even as the stake sale of Haldia Petrochemicals Ltd (HPL) gets delayed, the company’s chief financial officer (CFO) has resigned and is moving to a consultancy company, Business Standard reported. D S Chakraborty, former CFO at HPL, was asked to join the management after his contract ended in June. This was primarily done by the West Bengal government to keep the stake sale process intact.

Even as the stake sale of Haldia Petrochemicals Ltd (HPL) gets delayed, the company’s chief financial officer (CFO) has resigned and is moving to a consultancy company, Business Standard reported. D S Chakraborty, former CFO at HPL, was asked to join the management after his contract ended in June. This was primarily done by the West Bengal government to keep the stake sale process intact.

What is of greater concern is that eastern India’s biggest petrochemical company would be headless once again when Managing Director Sumantra Chowdhury’s extended contract with HPL terminates on September 30. The report quoted an unnamed official as saying, “The fear of the company once again being headless, especially amid the stake sale that is already delayed, looms large.”

To read the Business Standard report, click here

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Topics: C-Suite, #Updates, #Movements

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