MUMBAI May 26 Rakesh Sarna, the managing
director and chief executive of Indian Hotels Company Ltd
, part of the Tata Group, resigned from the company on
Sarna, who joined Indian Hotels in September 2014, was known
to be close to Cyrus Mistry, former chairman of the
salt-to-software Tata Group.
Sarna's position came into question after the ousting of
Mistry from Tata Sons, the holding company of the conglomerate.
Sarna inherited a loss-making hospitality business, and
turned it around within two years, posting a profit of 2 billion
Indian rupees ($31 million) in the financial year 2015-16.
In 2015, after a year at the company, Sarna had said he
would prioritize maintaining quality at Indian Hotels, expansion
and developing a new generation of leaders.
A veteran of the hospitality business, Sarna had worked with
the Hyatt Hotels Corporation for over 30 years.
He will step down from his position at the end of September.
($1 = 64.4950 Indian rupees)
(Reporting by Rahul Bhatia; Editing by Keith Weir)