Mandar Deo has resigned as MD and CEO of Exide Energy Solutions (EESL) — just over a year after being appointed to the post.

EESL, the lithium-based subsidiary of India’s Exide Industries (EIL), said Deo resigned on December 22, but did not disclose details.

He is succeeded by Pravin Ramchandra Saraf, previously executive director of EIL and a non-executive director of EESL. Saraf’s appointment took effect on December 22.

Batteries International reported in September 2024 that Deo had been appointed to succeed Arun Mittal effective November 2024. Mittal said he was stepping down for personal reasons and would also cease to be director of the company.

Last July, EIL outlined plans to invest more than Rs1,000 crore ($116 million) across its lead acid and lithium battery manufacturing businesses in the 2026 financial year.

EIL’s CEO and MD Avik Roy told the company’s online annual general meeting on July 26 on that it had already invested nearly Rs4,000 crore in the first phase of EESL’s lithium ion battery cell manufacturing plant in Karnataka state.