<div>Suzlon Group, the world's fifth-largest wind turbine maker, has appointed Amit Agarwal as chief financial officer of its wholly owned unit Suzlon Energy Ltd.<br /><br />Agarwal will take over from Kirti Vagadia, who will become the head of finance of Suzlon Group, which also includes its wholly owned German unit REpower, the company said in a statement on Friday, 22 March 2013.<br /><br />Agarwal previously worked as chief financial officer of India's Essar Steel, and in his new role will report to Suzlon Group Chairman Tulsi Tanti, the statement said.<br /><br />Suzlon's lenders in January approved a plan to restructure $1.8 billion of debt after the company defaulted on a $200 million convertible bond redemption last October.<br /><br />The company had net debt of about $2.5 billion at the end of December.<br /><br />(Reuters)</div>
