Taj Group of hotels head Rakesh Sarna resigns as IHCL MD and CEO
The hotel company Group Tata Hotels India Co Ltd said on Friday its CEO and CEO, Rakesh Sarna, resigned for personal reasons. Sarna resigned as CEO and MD and as director of the Company and associated companies, Indian Hotels Co Ltd (IHCL) said in a presentation to the BSE.
IHCL President N Chandrasekaran said Sarna chose to resign at the end of his three years as MD and CEO, adding, “The Board respects its decision and asked it to continue until September 30th to accept.” IHCL manages the group of hotels Taj.
Sarna was one of the high-profile recruiters outside the Tata group led by Tata Sons president Cyrus Mistry. With the departure of the group Mistry, it was speculated that Sarna was likely to do the same. He was considered a confidant Mistry. He joined IHCL in September 2014, replacing Raymond Bickson, the company’s long-term head.
Prior to joining IHCL, Sarna was the chairman of the group -Americas of Hyatt Hotels Corporation.
On March 21 Sarna was acquitted by an independent panel seeking a charge of sexual harassment against her in 2015 by a former employee, according to economic times. According to ET, the panel that was created in June 2016 was informed to the audit committee IHCL, led by Keki Dadiseth, an independent member of the Board of Directors. Sources said the panel, including HDFC Standard Life CEO Deepak Satwalekar, business development manager of Tata Capital Kashmira Mewawala and Sonal Mattoo, an independent lawyer, found “conclusive” evidence to support the employee’s sexual harassment charges.
It is believed that the plaintiff persisted with the case and addressed Dadiseth and Ratan Tata himself, both of whom have been disturbed, the case was not settled in two years and the effect was on the Taj group. She said she was skeptical about the survey and its findings, ET reported.