Jeh Wadia, managing director of The Bombay Dyeing and Manufacturing Company Limited, has stepped down and will not renew his contract as MD.
Mr Wadia, younger son of Chairman Nusli Wadia, stepped in keeping with the objective of professionalizing management.
In the interim, the day-to-day management of the company will be overseen by Suresh Khurana, CEO (PSF) Hitesh Vora, CFO, Minni Bodhanwala, Director.
“The strategic committee of the board of directors consists of Nusli N. Wadia, chairman, Vinesh Jayarath and Sunil Lalbhai, both independent directors, who continue to provide appropriate guidance as of now,” the statement said.
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