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Our Bureau

New Delhi, May 17

The board of directors of Goetze (India) Ltd (GIL) has appointed Mr Arun Anand as GIL's Chief Executive Officer (CEO). He will continue to serve as whole-time director on the company's board. GIL's board also appointed Mr Anil Nanda as GIL's Non-Executive Chairman.

These appointments at GIL follow Federal-Mogul Corporation's acquisition of additional shares to own the majority stake of its long-standing joint venture. The transaction increased Federal-Mogul's share in GIL from 25.5 to 50.1 per cent holding in the company. According to a company release, "GIL is an important part of Federal-Mogul's strategy to drive global profitable growth by providing leading technology, and world class products and services in India, one of the most dynamic and growing economies."

Mr Anand began his association with GIL 25 years ago, joining GIL in 1981 as a member of the finance department. He spent 12 years as Chief Financial Officer and in 2002 was named Executive Director.

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