Kolkata, Aug 08: Even after the hasty dismissal of Britannia Industries’ star CEO Sunil Alagh, there was no management instability in the company, said Nusli Wadia, chairman of Britannia Industries Limited, on Friday. Wadia declined to give a timeframe on when the new appointment will be made but said that this would be decided by the board.
"The growth of the company reflects there is no management instability," Wadia asserted while speaking at a general meeting in the 84th annual function.
The company terminated managing director Sunil Alagh in June as the board felt "he had conducted himself in a manner clearly incompatible and inconsistent with the duties and responsibilities he owed as managing director of a public limited company".
"Little I can comment on Alagh's departure,” Wadia told shareholders at the meeting.
Bureau Report