By CNBC-TV18 Aug 7, 2018 9:04:36 AM IST (Published)
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Nusli Wadia, the promoter chairman of Britannia Industries, hinted towards a likely exit from the Britannia board, reported The Economic Times.
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Wadia made the comment during the company’s 99th annual general meeting (AGM) in Kolkata when questions arose about the age of the board, ET reported on Tuesday.
According to the report, the 74 year old Wadia said that the company would soon "refresh the board, including myself."
“We will renew the board. I am also getting older...,” Wadia later told press, as mentioned in the report.
The change in leadership, if it becomes a reality, will mean a change in guards after decades at the top of the second-largest listed packaged food company in the country. Wadia had originally joined the company board way back in 1993, the report said.
The decision, as per the report also comes at a time when Britannia’s board of directors at a meeting in May recommended the continuation of Nusli Wadia as director of the firm.
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