MUMBAI: Adlabs Entertainment’s Kapil Bagla has resigned from his post as the whole-time director and CEO with the effect from 1 September.

Bagla shall now be focusing on reducing the debt of the company by monetizing the non-core assets such as the hotel and the surplus land through Walkwater Properties Private Limited (WPPL) (the wholly owned subsidiary of the company) as a director of WPPL.

The company informed the BSE that Bagla will be continuing on the board as a non executive director (against his previous designation as whole time director) of the company with effect from 1 September.

The company has also appointed Dhimant Bakshi as chief revenue officer and Ashutosh Kale as chief operating officer and executive director of the company as joint chief executive officers and key managerial personnel w.e.f. 1 September, 2017 to spearhead the executive functions.

Bakshi has over two decades of experience in the retail industry. He has also been awarded among Top 50 Most Talented Retail Professionals of India by Asia Retail Congress. He has been heading the sales, marketing, F&B and retail business of the company. Dhimant Bakshi has been associated with the company for the last five years. As the joint CEO of the company he shall be responsible for driving the revenues of the company to the next level, apart from regular executive functions.

Kale has over two decades of experience in the safety and security largely serving the Indian Army. He has served as an instructor in the Indian Military Academy and as an Anti-Terrorism Expert. He was handpicked to lead a contingent of 1700 Indian troops in the United Nations wherein he was responsible for leading strategic, diplomatic, cultural, PR and humanitarian initiatives in the Horn Of Africa. Kale has also been associated with the company for the last five years. As the joint CEO of the company, he shall be responsible for the operations of the parks of the company and enhancing customer experience, apart from regular executive functions.