Comments
There has been a reshuffle at the top in the Wadia Group, with Mr Jeh Wadia, the younger son of Mr Nusli Wadia, being appointed the new Managing Director of Bombay Dyeing from April 1.
This comes, even as Mr Ness Wadia, the elder son steps down as the Joint Managing Director of the company from March 31, according to a recent company announcement. He will continue to be an Additional Director of the company.
Mr Ness Wadia has also been given the new responsibility as the Managing Director of Bombay Burmah Trading Corporation Ltd.
Bombay Burmah is one of the oldest listed companies in the country and has major interest in plantations, trading and manufacturing.
Mr Jeh Wadia has stepped down as the Deputy Managing Director of the company but he has also been appointed as Additional Director of the company.
Bombay Burmah is the holding company of the group and has a sizable stake in Britannia Industries Ltd.
Mr Ness Wadia, with interests in the real estate division of the company and has been responsible for developing Bombay Dyeing's idle mill land and some real estate projects in central Mumbai.
Bombay Dyeing stock price closed at Rs 371 on the BSE, up close to two per cent on Wednesday.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.