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30 September 2016
United
Breweries (Holdings) Ltd has made its Chairman Vijay Mallya Principal Officer
in the absence of a Managing Director, the company said on Thursday.
In
a regulatory filing to the BSE, after its 100th annual general meeting (AGM)
here, the company said Mallya had been monitoring the company's performance
through appropriate delegation of duties to various operating executives. The Total Investment & Insurance Solutions
"In
the absence of a Managing Director, the Chairman of the Board, Vijay Mallya,
has been made the Principal Officer of the company and has been monitoring the
performance of the company through appropriate delegation of duties to various
operating executives, who report to him on a regular basis," said the
filing. The Total Investment & Insurance
Solutions
The
company has not appointed a new managing director after V. Shashikanth resigned
from the executive post in May 2014. The Total
Investment & Insurance Solutions
In
the absence of Mallya at the company's centurion AGM, independent director N.
Srinivasan chaired the proceedings and read out a transcript Mallya sent from
London where he has been living since March 2 when he left India. The Total Investment & Insurance Solutions
The
listed firm also informed the BSE that its board had five directors, including
three independent at the end of previous fiscal year (2015-16).
Mallya
and Daljit Mahal are the non-executive non-independent directors.
The
AGM reappointed Mahal as director on rotation with the shareholders' consent.The Total Investment & Insurance Solutions
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