GM Infrastructure reshuffles its top deck, Kiran Grandhi to replace Rao as MD

BANGALORE: The board of Bangalore-based infrastructure developer GMR Infrastructure on Monday approved a reshuffle of the company's top deck, including the appointment of group promoter GM Rao's youngest son, Kiran Kumar Grandhi, as MD.

Thirty eight-year-old Grandhi replaces BVN Rao, who will continue as director on the company's board, GMR said in a statement to the Bombay Stock Exchange. 

Within hours of the announcement, the company's stock touched an all-time low of Rs 14.50 and closed the day at Rs 14.75, down 5.14% over the previous close on the BSE.