Tata Power announces leadership change; Sanjay Banga to succeed Praveer Sinha as CEO

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Tata Power has reported strong Q2 earnings and announced a leadership transition, naming Sanjay Banga as its next CEO and Managing Director, succeeding Praveer Sinha from May 1, 2027.

Tata Power has announced a leadership transition, naming Sanjay Banga as its next Chief Executive Officer (CEO) and Managing Director, with effect from May 1, 2027.

The company's board, at a meeting on Wednesday, approved Banga's appointment as an additional director and CEO-designate with immediate effect. He will take over as CEO and Managing Director for a five-year term from May 1, 2027, to April 30, 2032, subject to shareholders' approval.

The move marks a planned succession at the power major, with incumbent Praveer Sinha set to complete around 8.6 years at the helm since joining the company in May 2018. Sinha turns 65 on May 1, 2027, the same day Banga's five-year term is scheduled to begin.

Banga currently serves as CEO and Managing Director of Tata Power Renewable Energy and is President – Renewables at Tata Power.

He has previously led the company's transmission and distribution businesses and served as CEO of Tata Power Delhi Distribution. He brings more than three decades of experience in the power sector, having begun his career at NTPC in 1989.

The succession announcement came alongside Tata Power's second-quarter results, with the company reporting a 48.6% year-on-year rise in consolidated net profit to ₹1,366 crore, compared with ₹919 crore in the year-ago period.

Also Read: Tata Power Q2 net profit rises 48.6% to ₹1,366 crore on one time gain; revenue up 27%

Revenue increased 27.1% to ₹19,636 crore, while EBITDA rose 11.1% to ₹3,667 crore. However, the EBITDA margin narrowed to 18.7% from 21.2% a year earlier.

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