NEW DELHI: Making official industry buzz that has been doing the rounds for a while now, JSW GMR Cricket Private Limited on Tuesday announced that Hemant Dua had stepped down as the CEO of its Indian Premier League (IPL) franchise Delhi Daredevils (DD).
Dua, who had been in position since 2013, will step down from his position effective 1 September. Post his role as CEO of DD, Dua will serve on the board of the JSW GMR Cricket Private Limited as a non-executive director.
“DD has been a part of my journey for sometime now. The franchise is close to my heart and thus, I will always be available for the betterment of the franchise. I wish DD and it’s new management the very best in its endeavour to bring the trophy to our own city of Delhi,” said Dua.
JSW GMR Cricket Private Limited will not be making any further statement (read no comments at this point as to who will replace Dua as CEO).
It was in March that the Sajjan Jindal-owned diversified business conglomerate, JSW Group, had announced acquisition of a 50% stake in GMR Group-owned Delhi franchise of IPL for Rs 5.5 billion, valuing the franchise at Rs 11 billion.
For the record, GMR had bought the IPL franchise in 2008 for $84 million.
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