Mumbai, June 13: Britannia Industries Ltd (BIL) last night said the decision to terminate employment of S K Alagh as Managing Director was taken unanimously at a full meeting of all non-executive directors on the board even as the company appointed John Miller as an additional director. Nusli Wadia, BIL chairman, when asked by the waiting reporters, who had maintained a day long vigil at Wadia Group headquarters, said "I am not going to comment on anything". The board has expressed full confidence in the current management, which is fully competent and has demonstrated ability to drive profitable growth of the company, BIL company secretary Ravi Mannath said in a late night release, issued to reporters after a marathon five hour board meeting here. Alagh, whose tenure was to end in February 2004, had earlier decided not to extend this contract beyond that date. The board terminated his services on June four with immediate effect.

He resigned from the board of directors on June 10.


BIL is controlled by Nusli Wadia and European food product conglomerate group Danone.

Mannath said Miller, an employee with Danone Asia Pacific having wide experience in FMCG sector, was today inducted as an additional director on the board.
On reports about Jeh Wadia`s induction in the management of the company, he said, "There in no truth whatsoever in these reports".


Bureau Report