KOLKATA: The Burmans of Dabur finally entered the board of dry cell battery leader Eveready Industries. As reported in TOI earlier, three nominees from the Burmans on Tuesday took board berths at Eveready.
As per stock exchange filings, the nominees are Anand C Burman, Mohit Burman and Arjun Lamba. Apart from the Burman representatives, former Britannia MD Sunil Alagh was also inducted in the board as independent director. Anand and Mohit Burman along with Lamba were inducted as non-executive directors. It is learnt that the decision on the new chairman will be taken at the next board meeting.
Aditya Khaitan and Amritanshu Khaitan had resigned from the board in March this year following the declaration of launching of the open offer by the Burmans of Dabur in a bid to acquire full control of the company. Aditya was the non-executive chairman, while Amritanshu was the managing director. Suvamoy Saha, who was then the joint managing director, assumed charge as the new MD.
The Burman family had reclassified itself as the promoters of dry cell battery maker Eveready Industries earlier this month.
The family becomes the promoters of the Kolkata-based company after Puran Associates, VIC Enterprises, MB Finmart, together with Gyan Enterprises and Chowdry Associates — all investment arms of the family — have become the promoters of Eveready after the completion of the open offer in June. Following the open offer, Burmans now have a 38.38% stake in Eveready. The owners of Dabur have acquired over 14% stake in the country’s largest dry cell battery maker in the open offer. Mohit Burman had earlier said that it would be classified as promoters in July after the formalities.
As per stock exchange filings, Anand Chand Burman, aged 70 years, has interests in the areas of R&D in pharmaceutical sciences as well as biotechnology and technology issues. Anand is a member of the fifth generation of the Dabur group’s founder family and took charge as the chairman of Dabur India in 2007 after holding the post of vice chairman and having been associated with the company in various other roles. He stepped down as the chairman of Dabur India in 2019.
Mohit, aged 54 years, is the vice chairman of Dabur India. He is the driving force behind the Burman family’s foray into several high-growth and sunrise sectors of financial services like life insurance, pensions, annuities and asset management, besides agriculture and retailing.
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