Azure Power CEO abruptly resigns

Harsh Shah has resigned as the CEO of Indian renewable power producer Azure Power Global Ltd (NYSE:AZRE) less than three months after taking over, the company announced on Monday.

“Azure is certainly placed very well to seize the big growth opportunity that India presents, and I was looking forward to working with the team to deliver Azure's potential. However, owing to unforeseen circumstances and matters beyond my control, I have decided to step down from my role of the Chief Executive Officer,” Shah said in the company’s statement.

“The Board has accepted Harsh's resignation with deep regret,” said chairman Alan Rosling. “He joined us only from 1 July 2022 and we hoped that Harsh would be the leader to take the Company forward. However, we respect this unexpected decision and wish him and his family all the best for the future.”

Shah’s appointment was announced in early May this year. Before taking the helm at Azure Power, he served as CEO of Indian infrastructure investment trust IndiGrid.

“The Company will be releasing today a separate update on other matters including future leadership following Harsh's departure,” Azure Power added.

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