According to reports, wind turbine manufacturer Suzlon Energy Ltd has appointed Marc Desaedeleer, a CIO of Citi Venture Capital International (CVCI), as an additional director. Desaedeleer joins the company as Ajay Relan, independent director of Suzlon, has resigned from the board.
Relan, the former chief of CVCI in India, had led the PE firm’s investment in the renewable energy company. However, he moved out to form his own PE firm CX Partners.
Suzlon has also approved reconstitution of the audit committee and the remuneration committee, which will include all independent directors – namely, Ashish Dhawan, V Raghuraman and Marc Desaedeleer.
Desaedeleer has worked with CVCI for over a decade and prior to his current role, he led its business in CEEMEA.