Mahendra Agarwal, Founder and Managing Director of Hyderabad-based logistics firm Gati Ltd have resigned from the Boards of Gati, Gati-KWE, and Gati-Kausar, during board meetings held on September 28, 2020.
While formally accepting his resignation, members of all the three Boards duly noted his contribution to Gati’s growth and success and thanked him for his services over the years.
Agarwal is considered as a Pioneer of Express Cargo business in India and had set up Gati in 1989. Over the course of 30 years, he managed to take the company to great heights.
While Gati-KWE is a 70:30 joint venture between Gati and Kintetsu World Express (KWE), which is a part of Japan’s Kintetsu Group Holdings, Gati Kausar is the cold chain solutions vertical of the Hyderabad-based firm.
Allcargo Logistics is now the promoter and single-largest shareholder of Gati Ltd with 47 per cent ownership, followed by KWE with about 3.5 per cent share in the company.
After concluding its strategic acquisition of Gati, Allcargo Logistics now holds controlling stake in the company along with the inclusion of some of its senior leaders and Board Members into Gati’s Board.
“We acknowledge Mr Agarwal’s efforts to bring Gati to its current position in India’s express distribution market and wish him the best in his future endeavours,” said Shashi Kiran Shetty, Chairman, Allcargo Logistics who took over the reins as Gati’s Chairman in July 2020.
Gati is India’s express distribution pioneer and frontrunner in numerous value-added services. Today it is one of India’s premier companies offering surface and air express along with first and last-mile logistics, supply chain management, and warehousing solutions for marquee customers across diverse industry sectors.
The company’s extensive domestic network spans more than 19,800 pin codes across 735 out of India’s 739 districts.