The Tata Group has started looking for a new Chief Executive Officer (CEO) for Taj group of hotels after Rakesh Sarna, the managing director and CEO of Indian Hotels Company Ltd (IHCL) resigned from his position due to personal reasons.
Mr Sarna, a veteran in international hospitality industry had joined IHCL which owns and operates Taj Group of hotels nearly three years back. He was hand picked by former Tata Group Chairman Cyrus Mistry to rid the hotel chain from mounting losses and to restructure its operations.
The board of directors of IHCL at their meeting held on Friday accepted Mr Sarna’s resignation and has requested him to continue till September 30, 2017 by which time a successor would be found.
In a statement N Chandrasekaran, Chairman IHCL said, “Mr Sarna has chosen to resign upon completion of his three years tenure. The board respects his decision. The board appreciates his contribution to the company in its transformation to operational excellence.”
