The Hindu Business Line : B.K. Birla to remain in charge of Kesoram for now

Kolkata, June 26 Mr Kumar Mangalam Birla is not willing to take charge of Kesoram Industries, at least immediately, according to Mr B.K. Birla, Chairman of the company.

Talking to reporters after the company’s 89th AGM here on Thursday, Mr Birla said that Mr Kumar Mangalam was yet to accept his invitation to take charge of the company. “He wants me to continue,” observed the octogenarian industrialist, adding wistfully, “maybe he would accept it later”.

Mr Kumar Mangalam, Mr Birla said, however, had acceded to his request to join the board of Century Textiles. “I would like to see my daughter Ms Manjushree, who is already on the Kesoram board, and Mr Kumar Mangalam jointly managing Kesoram. One of them could be chairman and the other might take charge as vice-chairman,” observed Mr Birla smiling off any apparent contradiction in the concept of “joint management” in this family run business.

The Rs 3,026-crore company has been subject of media speculation since Mr Birla publicly announced his succession plan some years ago.

Earlier, he had indicated Ms Manjushree would succeed him in Kesoram, but subsequently giving a hint that he preferred Mr Kumar Mangalam Birla to eventually take charge of Kesoram. The company came to Mr B.K. Birla as a family legacy and he nurtured it for decades. It is now on an expansion mode, both cement and tyres.

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