Dr Pramath Sinha, Managing Director and CEO, The ABP Group, has put in his papers. When contacted, Dr Sinha said, “I do not deny the news. It was a very sudden decision.” He is yet to decide on his future plans.
Dr Sinha was a McKinsey partner and former dean of Indian School Business (ISB) before joining The ABP Group in January 2006, replacing Aniruddha Lahiri.
He was instrumental in leading McKinsey’s engagement with ABP in 1998-99, before he went on to head the prestigious ISB. McKinsey had made several far-reaching recommendations, which The ABP Group had implemented, including a portfolio review and appointment of a CEO and a Board.
In the past year, the ABP Board has been strengthened with the presence of members like A S Ganguly, Bimal Jalan and R Gopalakrishnan. Dr Sinha reportedly shared a good rapport with the Sarkar brothers, Aveek and Arup.
An ABP spokesperson was tightlipped about the development. Apparently, an official announcement is expected later in the day.