It is reported that Mr Suresh Neotia one of the founder promoters and the chairman of Ambuja Cements Ltd has stepped down from the Board of the Company for personal reasons.

Mr Neotia informed the Board that he would like to retire from corporate assignments and would prefer to spend his time on things that are dearer to him.

It may be recalled that Mr Neotia along with Mr NS Sekhsaria entered the corporate world by setting up the Company’s first cement plant with 0.7 million tonnes capacity in Gujarat in 1983.

In spite of being a new entrant in the industry, together they built a highly dedicated and committed team for Ambuja Cements. Thanks to their vision and leadership, the Company never looked back in performance, be it quality of product, operating parameters, brand reputation, employee satisfaction and care for key stakeholders.

The Company has today grown to a size of over 22 million tonnes with a market capitalization of over INR 15, 200 crores.