Adani set to shake things up at Ambuja Cements, ACC

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Editor's note: Once the customary open offer for Ambuja Cements and ACC shares comes to a close on Friday, Gautam Adani is set to effect multiple changes, including in the senior leadership, at the two cement companies that his Adani group bought from Swiss major Holcim in a $10 billion acquisition in May.  Three executives from the industry, with direct knowledge of the matter and on condition of anonymity, told The Morning Context that Neeraj Akhoury, managing director and chief executive officer of Ambuja Cements, had already put in his papers. While chief financial officer Rajani Kesari may also be on her way out, her counterpart at ACC, Yatin Malhotra’s resignation was recently announced by the company. “ACC’s HR head, Bhogendra Mishra, who is also the functional head for Holcim in Asia, is also going. It’s not just a coincidence that most of those who are leaving had come from the Holcim group,” says one of the three executives.  Holcim had bought Ambuja Cements and ACC in 2006, its ownership marked by the two Indian companies going slow on expansion and ceding …