Business Daily from THE HINDU group of publications
Saturday, Apr 21, 2007
ePaper
Business Daily from THE HINDU group of publications Saturday, Apr 21, 2007 ePaper |
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Corporate
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People Exide Ind recasts board Our Bureau
Kolkata April 20 The Rs 2,385-crore Exide Industries has announced a major recast in its board of directors. Mr S.B. Ganguly (64), who was leading Exide - formerly known as Chloride India - as Chairman and CEO ever since the Rahejas took over the company in 1993, has been made Chairman Emeritus. He joined the company as Director (Operations) in 1984. Mr Rajesh Kapadia, an independent director, will be the first non-executive Chairman of Exide. The Managing Director and Chief Operating Officer, Mr T.V. Ramanathan (61), will henceforth be leading the day-to-day business as Managing Director and CEO. Mr Ramanathan joined the company in 1995 as Executive Vice-President and became Director (Finance) in 1998. He had assumed the office of Managing Director in 2000. Mr A.K. Mukherjee, Executive Vice-President and CFO, becomes Director (Finance).
End of an era
Mr Ganguly's exit from executive leadership comes at a time when Exide Industries has grown a clear 10 times from a turnover of Rs 238 crore in 1993 to Rs 2,385 crore in 2006-07. The company is planning to double its turnover in three years. Though no reason was given officially for Mr Ganguly's change in position, sources said that the move was based on personal grounds.
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