CEAT changes: Anant Goenka named Vice-Chairman; Arnab Banerjee to be MD & CEO

The Board of Directors of CEAT Limited, an RPG Group company, at its meeting held on March 20, 2023, named Anant Goenka as the Vice Chairman of the tyre major. This appointment, effective April 1, 2023, follows Anant Goenka’s decade-long stint as MD and CEO of CEAT, a phase that witnessed a significant transformation of the tyre major, in technology, branding and production capabilities.

The move also progresses the Board’s succession plan for the company with Arnab Banerjee, currently Chief Operating Officer, taking charge as the new MD and CEO.

Anant Goenka, son of RPG Group Chairman Harsh Goenka, will now take up strategic functions at the group level for its next stage of growth. Anant is an MBA from Kellogg School of Management and a graduate in Economics from the Wharton School, University of Pennsylvania. He was recognised by Forbes magazine as the ‘Next Generation Business Leader of the Year’ in 2017 and as ‘India’s 40-under-40 Business Leaders’ by Economics Times-Spencer Stuart.

Anant led CEAT through a highly transformative ten-year period, which saw the market capitalisation of the company grow from Rs 370 crore to Rs 5,800 crore. The company became the only tyre maker outside Japan to receive the coveted Deming Prize and is now the only tyre facility in the world to receive the Lighthouse certification by the World Economic Forum.

“Anant has had an exciting time at CEAT and has been able to lead the company through a transformative phase where technology, brand-building and capacity-creation have been the key themes. As Vice Chairman of the Company, I am sure he will be able to focus more on specific subjects besides his deeper engagement in driving new businesses at the group level. I wish Arnab and his team success as they take CEAT to a new phase of growth and excellence,” said Harsh Goenka, Chairman of CEAT and RPG Enterprises.

Arnab Banerjee has executive experience of over 30 years, during which he has worked in CEAT, Marico and Berger Paints. Banerjee is an alumnus of the Harvard Business School, IIM Kolkata and IIT Kharagpur. He joined CEAT in 2005 as Vice President, Sales and Marketing. Under his leadership, CEAT has seen innovation in marketing, digital capabilities, sales and distribution strategy, manufacturing flexibility and seamless supply chain processes. The Board of the Company had been grooming Banerjee to take over the top post at the company, giving him company-wide exposure as its Chief Operating Officer.