Azure Power (AZRE) Announces CEO Resignation

Azure Power Global Limited (NYSE: AZRE) today announced the resignation of its Chief Executive Officer, Mr. Harsh Shah, effective immediately.

Alan Rosling, Chairman of the Board, said, "The Board has accepted Harsh's resignation with deep regret. He joined us only from 1 July 2022 and we hoped that Harsh would be the leader to take the Company forward. However, we respect this unexpected decision and wish him and his family all the best for the future."

Harsh added, "The Indian renewable energy sector is thriving with a great potential to play a leadership role in energy transition globally. Azure is certainly placed very well to seize the big growth opportunity that India presents, and I was looking forward to working with the team to deliver Azure's potential. However, owing to unforeseen circumstances and matters beyond my control, I have decided to step down from my role of the Chief Executive Officer. I am thankful to the Board and the team for the warm welcome and support during my tenure and wish them luck to take Azure to greater heights."

The Company will be releasing today a separate update on other matters including future leadership following Harsh's departure.

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