Shashikant Ruia Dies: Essar Group Co-Founder Passes Away at 81
Shashikant Ruia, billionaire and Co-founder of the Essar Group, has passed away at age 81, the global conglomerate said on Tuesday.
New Delhi, November 26: Shashikant Ruia, billionaire and Co-founder of the Essar Group, has passed away at age 81, the global conglomerate said on Tuesday. “It is with profound grief that we inform of the passing of Shri Shashikant Ruia, Patriarch of the Ruia and Essar Family. He was 81. With an unwavering commitment to community upliftment and philanthropy, he touched millions of lives leaving an enduring impact,” the Ruia and Essar Family said in a statement.
“His humility, warmth, and ability to connect with everyone he met, made him a truly exceptional leader. An iconic industrialist, Shri Shashikant Ruia, Chairman, Essar Group, played a significant role in redefining India's corporate landscape,” they added. He laid the foundation of the Essar Group and made it a global conglomerate. Omkar Nisal Appointed As New Wipro CEO for Europe Strategic Market Unit As Pierre Bruno Steps Down From Position.
Shashikant Ruia Dies at 81
“Shashikant Ruia's extraordinary legacy will remain a guiding light for all of us, as we honour his vision and continue to uphold the values, he cherished and championed,” said the company. Shashi Ruia's mortal remains will be kept at Ruia House to offer prayers. A first-generation entrepreneur industrialist, he started his career in 1965 under the guidance of his father, Nand Kishore Ruia. He was a member of the Prime Minister's Indo-US CEO's Forum and India – Japan Business Council. Lee Jae-Yong Controversy: Prosecutors Demand 5-Years Prison Sentence for Chairman of Samsung Electronics in Merger of Two Samsung Affiliates.
He was also part of the managing committee of the Federation of Indian Chambers of Commerce and Industry (FICCI), along with being Chairman of the Indo-US Joint Business Council and the former president of the Indian National Shipowners Association. Essar Global Fund Ltd owns the businesses co-founded by the Ruia brothers,. The Fund's portfolio companies generate aggregate revenues of $14 billion, as per Essar Group's website.
(The above story first appeared on LatestLY on Nov 26, 2024 09:55 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).