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Maruti inducts four new directors
New Delhi, July 07: Maruti Udyog today undertook a massive restructuring of its board by inducting three independent directors and one part-time director in the first board meeting held after disinvestment of 27.5 per cent government equity in the car major through a just-concluded public issue.
New Delhi, July 07: Maruti Udyog today undertook a massive restructuring of its board by inducting three independent directors and one part-time director in the first board meeting held after disinvestment of 27.5 per cent government equity in the car major through a just-concluded public issue.
Two directors on the board representing Suzuki also tendered their resignations in the meeting, which was attended among others by Suzuki Motor Corporation chairman Osamu Suzuki.
The independent directors are Kumaramangalam Birla, chairman of the Aditya V Birla Group and Amal Ganguli, former chairman of Price Waterhouse Coopers India. Pallavi Shroff, senior partner of Amarchand and Mangaldas and Suresh A Shroff and Company is the third independent director, a Maruti statement said.
In addition, former managing director of Maruti R C Bhargava has joined the board as a part-time director. The board also accepted the resignations of finance director Motohiro Atsumi and director Hirofumi Nagao.
An audit committee and a shareholders or investors grievances committee was also constituted by the board as mandated by the stock exchanges.
Maruti said all the new members inducted were eminent people in their respective fields and would contribute to enhance the quality of corporate governance at Maruti.
Bureau Report
The independent directors are Kumaramangalam Birla, chairman of the Aditya V Birla Group and Amal Ganguli, former chairman of Price Waterhouse Coopers India. Pallavi Shroff, senior partner of Amarchand and Mangaldas and Suresh A Shroff and Company is the third independent director, a Maruti statement said.
In addition, former managing director of Maruti R C Bhargava has joined the board as a part-time director. The board also accepted the resignations of finance director Motohiro Atsumi and director Hirofumi Nagao.
An audit committee and a shareholders or investors grievances committee was also constituted by the board as mandated by the stock exchanges.
Maruti said all the new members inducted were eminent people in their respective fields and would contribute to enhance the quality of corporate governance at Maruti.
Bureau Report