Tata Power Managing Director Firdose Vandrevala stepped down on Monday. Adi Engineer, a whole-time director of the company, will oversee the management and operations of Tata Power till a full-time MD is appointed.
Tata Power informed the Bombay Stock Exchange that the board of directors of the company had decided to appoint Engineer to oversee the management and operations of the company in the interim as Vandrevala expressed his desire to step down from his position "in favour of another position in the Tata Group".
Sources close to the company said Vandrevala would likely play a bigger role in the group's telecom ventures.
In August 2003, Tata Teleservices appointed Vandrevala as its non-executive chairman after J J Irani stepped down from the post.
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