If you have a chair controlled over 40% of the holding, it would be unusual for him to simply appoint someone as CEO. Further the chair doesn't look like he is in a retiring age. The CEO employed would is to bring more businesses. The Chair would remain in total control. If SP goes down, he would lose a lot of money. I think SP could go up very soon.
News: PGH Pact Group Holdings Appoints Sanjay Dayal As CEO, page-8
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