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The board of B.K. Birla group company Kesoram Industries Ltd decided on Tuesday to induct Manjushree Khaitan as the Executive Vice-Chairman.
Manjushree, daughter of B.K. Birla, has been on the board of Kesoram Industries as a non-executive director since October 30, 1998. The move marks the second step in the unfolding succession plan of B.K. Birla. According to the nonagenarian’s expressed wish, Kumar Mangalam Birla, his grandson, will succeed him as the non-executive chairman of Kesoram Industries, while Khaitan would take charge of the management control of the Kolkata-located company.
Century Textiles and Industries Ltd, the other diversified company of the group, is set to be controlled by Kumar Mangalam. Currently, he is a non-executive director of Century Textiles. Control of the third big listed company Jay Shree Tea has already gone the way of the other daughter – Jayshree Mohta.
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