Shashi Ruia, co-founder of the multinational conglomerate, Essar Group, has passed away at the age of 80. In light of this tragedy, the company has appointed Manu Kapoor as its new group chief, effective immediately. The news has garnered international attention, with even the Prime Minister of Israel expressing his condolences. The group has also announced its plans to create the world's first decarbonized refinery in the UK, showcasing its commitment to sustainability and innovation.
Essar Group Appoints New Leader Following Tragic Loss
The Essar Group, a leading multinational conglomerate headquartered in India, has recently undergone a significant leadership change following the untimely passing of its co-founder, Shashi Ruia. The company has announced the appointment of Manu Kapoor as its new group chief, effective immediately.
Background: The Essar Group and Shashi Ruia
Founded in 1969 by brothers Shashi Ruia and Ravi Ruia, the Essar Group has grown into a global enterprise with operations in various sectors including energy, metals, mining, and infrastructure. Shashi Ruia, the elder brother, played a pivotal role in shaping the company's growth and expansion. He passed away on January 11, 2023, at the age of 80.
Manu Kapoor: The New Group Chief
Manu Kapoor has over 30 years of experience in the energy industry. Prior to joining Essar, he held senior leadership positions at Shell, where he led the company's global refining and trading operations. He is known for his strategic vision, operational efficiency, and commitment to sustainability.
Plans for the Future
In addition to the appointment of a new group chief, the Essar Group has also unveiled its plans to create the world's first decarbonized refinery in the United Kingdom. The project aims to reduce greenhouse gas emissions by capturing and storing carbon dioxide, making it an innovative and environmentally conscious endeavor.
Top 5 FAQs on Essar Group and Related Events
Q: Who is the new group chief of the Essar Group? A: Manu Kapoor
Q: What was the cause of Shashi Ruia's death? A: This information is not publicly available.
Q: What is the Essar Group's core business? A: The Essar Group operates in various sectors including energy, metals, mining, and infrastructure.
Q: What is the significance of the new decarbonized refinery project? A: The project aims to reduce greenhouse gas emissions and demonstrates the Essar Group's commitment to sustainability.
Q: Is Ravi Ruia still involved in the Essar Group? A: Yes, he is the co-founder and chairman of the group.
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Shashi Ruia started his career under the guidance of his father and went on to establish the Essar Group as a global conglomerate. He was an iconic figure in the Indian business world, having been involved in various influential organizations such as FICCI and the PM's Indo-US CEO's Forum. His contributions to the corporate landscape will be remembered and honored by many.
Shashi Ruia, the co-founder of Essar Group, passed away at the age of 81, leaving behind a diverse portfolio of assets worth $14 billion. Ruia, who began his career in 1965 under the mentorship of his father, played a crucial role in shaping Essar's growth and diversification. He was also actively involved in various national bodies and industry associations. The funeral procession will depart from Ruia House at 4 pm on Tuesday, as Essar Group and the business community mourn the loss of a visionary leader.