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Deirdre Mahlan, CFO and Executive Director, Diageo Plc, which has just announced an open offer to pick up an extra 26 per cent stake in United Spirits said that she is not expecting any change in management as a result of this move.
Speaking to Business Line, she said: “We already have management control. We have the right to appoint CEO/ CFO which we have done. I am not expecting any change in management as a result of this open offer. This offer will give us confidence about our control over the long term by increasing our direct ownership. We have taken some action on integration and management already.”
Asked about Vijay Mallya’s status and whether he would continue as Executive Chairman even after becoming a minority shareholder post the open-offer, Mahlan said that there is no change. “This open offer will have no impact on the existing agreements with United Breweries Holdings Ltd.”
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