Mumbai, June 04: Britannia Industries board has terminated the services of its managing director S K Alagh, with "immediate effect". The resolution was passed at the company's board meeting, Britannia Industries informed the Bombay Stock Exchange on Wednesday. However, the company did not specify any reasons for the termination.

Alagh, whose tenure was to end in February 2004, had earlier decided not to extend his contract beyond that date. He had joined Britannia in December 1974 and was the company's managing director for over a decade. Bureau Report