Financial Daily from THE HINDU group of publications
Saturday, Feb 14, 2004

News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Corporate - People


No decision yet on new MD for Tata Tea

Kohinoor Mandal

Kolkata , Feb. 13

Tata Tea is yet to decide on who will be its Managing Director from next Thursday.

The current Managing Director, Mr H.R. Khusrokhan, was appointed on February 19, 2001, for a period of three years. So, his term will end on February 18, but till date the company has not made any announcement on this matter.

The company's official statement on this issue is that the board of directors will be meeting on February 17 and this matter will be discussed. There after a formal announcement will be made.

At present, Mr Khusrokhan is 60 years. According to Bombay House practice, executive directors will retire at the age of 65 after which they can continue up to 70 years but without executive powers. By that yardstick he is eligible for another five years.

However, such an uncertainty in the MD's post is uncommon, more so, in a Tata organisation. Generally, these decisions are taken long back but here it is left till the penultimate day.

Sources said that Mr Khusrokhan might be retained as the MD. However, if he quits, then Tata Tea will have to either rope in a new MD or promote the Deputy Managing Director, Mr P.T. Siganporia, to the post.

More Stories on : People | Tea

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
ONGC says miscreant activities at Narsapur plant may force supply cut


Mercedes Benz cuts prices
Cummins India to make engines for group cos
Skoda plans pre-owned car initiative — To expand dealer network
Novopan to seek shareholders' nod thru postal ballot
Gannon scouting for contract facility in India
ICWAI pitches for name change to include management accounting
Max India offers 10.71 pc stake to ChrysCapital
ACC to seek shareholders' nod to raise $100 m
Giordano looks to outsource from India
Nestle, Dabur among Tetra Pak award winners
ICAI to clear DCA's doubts over institute's functioning
Godavari project bonds to be floated next week
ST Micro to open third design centre
Corporates running a different race!
Tatas Coffee eyeing China `instant' coffee market
Tata Tea mulling options to enter Chinese market
Radico Khaitan plans to double sales in 3 years
Bharti Healthcare to focus on US market
No decision yet on new MD for Tata Tea



The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line