IRCON International informed the exchanges about Hari Mohan Gupta taking charge as the new chairman and managing director.

What Happened: IRCON announced that Gupta has taken over as the chairman & managing director (CMD). This move comes in line with a directive from the Ministry of Railways, Government of India, dated July 1, 2024.

Gupta, an Indian Railway Officer from the 1989 Exam Batch, will serve as the CMD until his superannuation on June 30, 2026, or until further orders. His previous role was the director (Infrastructure) of the Dedicated Freight Corridor Corporation of India Limited (DFCCIL), a position he held for nearly four years.

See Also: Nifty 500 Gainers: PSU Stock Surges 10% After Export Order

The state-owned company said that he has extensive experience in track maintenance and the repair, maintenance, operation, and overhauling of large railway track machines used for laying and maintaining railway track networks. His expertise includes tendering, contract finalisation, arbitration, and administration within Zonal Railways. During his tenure at the Railway Board as Executive Director of Works (ED/Works), he significantly assisted Zonal Railways and gained considerable experience in project monitoring, financing, and related fields.

Ashish Bansal has stepped down from his additional responsibility as CMD and is no longer the Key Managerial Personnel of the company.

Price Action: IRCON’s share price was up 0.59% to close at ₹271.25 on Monday.

Read Next: Bajaj Finserv Chairman Sanjiv Bajaj’s Salary Was 105 Times Higher Than The Median Salary