Financial Daily from THE HINDU group of publications
Tuesday, Dec 24, 2002
Financial Daily from THE HINDU group of publications Tuesday, Dec 24, 2002 |
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Corporate
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Announcements Dabur's risk management system by April Our Bureau
NEW DELHI, Dec. 23 DABUR India is rolling out a risk management framework towards managing its business risks and assessing cost. Slated to be in place by April 2003, the framework will study risk exposure across departments and locations and detail procedures to minimise these risks. Mr Rajan Varma, CFO, Dabur India, has been nominated as the Chief Risk Officer of the company and a team of risk co-ordinators would also be created to help implement the framework across locations and divisions, the company said in its communiqué here on Monday. This framework is in line with global practices followed by leading companies, which have put in place systems that ensure that the exposures faced by the company are within its risk appetite. "With this framework, every employee will now be formally responsible for identifying business risks that surround their functions and make business risk management as part of their normal working practice," Mr Varma said.
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