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Veteran businessman and Williamson Group patriarch, Brij Mohan Khaitan, has stepped down as Chairman of group company, Eveready Industries Ltd. He stepped down on April 25 citing old age.
The 92-year-old Khaitan had been Chairman of Eveready since the early 1990s, the time when the family acquired it from Union Carbide. Eveready continues to be India’s largest producer of dry cell batteries.
According to a regulatory filing to the bourses, Eveready said Khaitan has “tendered his resignation as Non Executive Director and Chairman” due to “his old age”. His resignation has been accepted by the Board.
However, in recognition of his “significant contributions for two decades”, Khaitan has been designated as “Chairman Emeritus” of Eveready.
“As a mark of respect and in recognition of his significant contributions for over two decades, Mr BM Khaitan has been designated as Chairman Emeritus of the company,” Eveready’s notice to stock market read.
Earlier in March this year, Khaitan had stepped down as Chairman of another group company, McLeod Russel. He however, continues to be on its board as ‘Chairman Emeritus’. He was succeeded by younger son, Aditya. McLeod Russel is amongst the largest bulk tea producers globally.
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