Engineering firm BGR Energy Systems has announced key changes in its top management close to two months after its founder and chairman and managing director BG Raghupathy passed away. The firm has appointed A Swaminathan as the joint managing director and CEO of the company with effective from October 1, 2013 and V R Mahadevan as the joint managing director with effective from September 25, 2013, as per a stock market disclosure.
Sasikala Raghupathy, wife of the late BG Raghupathy, has taken over as the new chairperson of the board.
An IIT Bombay alumnus, Swaminathan is currently the director of the marketing department and now will be responsible for the entire business operations and affairs of the company, including business divisions and subsidiary company Progen Systems and Technologies Ltd.
Mahadevan, who is currently director - technology and HR, will be in charge of technology initiatives, information technology infrastructure and the business of joint venture companies—BGR Boilers Pvt Ltd and BGR Turbines Company Pvt Ltd—including implementation of capital projects. He will also be in charge of technical collaborations and strategic collaborations and tie-ups.
Chennai-based power equipment maker BGR Energy Systems was founded in 1985. It was originally incorporated as a joint venture between GEA Energietechnik GmbH, Germany and BG Raghupathy to manufacture and sell parts used in thermal and nuclear power plants.
In 1993 the local partner became the sole shareholder of the company and began to expand the range of product and services in the power and oil & gas industries. In 2007, the company’s name was changed from GEA Energy System (India) Ltd, to BGR Energy Systems Ltd. It clocked revenues of over Rs 3,100 crore for FY13.
(Edited by Joby Puthuparampil Johnson)