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Britannia MD SK Alagh sacked
By siliconindia
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Thursday, 05 June 2003, 19:30 IST
MUMBAI: The board of directors of Britannia Industries on Wednesday terminated the services of its managing director for over ten years, Sunil K Alagh, with 'immediate effect'.
The company said its board of directors had passed a resolution to this effect at a meeting in Mumbai.
While the company failed to spell out a reason for Alagh's ouster, "the nature and manner of the board decision indicate serious differences of opinion", according to a news agency.
Britannia, a joint venture between Nusli Wadia and Groupe Danone of France, has not announced a successor to Alagh, but among those said to be in the reckoning are COO Nikhil Sen, Britannia New Zealand Foods CEO Pavan Malik and Wadia flagship Bombay Dyeing's MD Ninu Khanna.
Fifty-six-year-old Alagh, who joined Britannia in 1974, was MD for more than a decade. He was responsible for turning the firm into a brand-driven fast moving consumer goods company.