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Home > Business > Business Headline > Report

Anil Ambani named BSES helmsman

BS Corporate Bureau in Mumbai | April 22, 2003 14:29 IST

Anil D Ambani, Reliance Industries vice-chairman and managing director, has taken over as the managing director of the group power company, BSES, from on Monday.

Earlier, the BSES board had also approved Ambani's appointment as a non-executive chairman, a position he would continue to hold as well.

Ambani is also the vice chairman and managing director of Reliance Industries, the group flagship, while his brother Mukesh, chairs the boards of RIL, Reliance Infocomm and IPCL. The BSES board also approved the appointment of Reliance group nominee Satish Seth, who was earlier a non-executive director, as the executive vice chairman of BSES.

In addition, the BSES board has been beefed up by inducting four more independent directors. This inclusion balances the number of non-executive directors in the 16-member board.

The four independent directors  who were inducted into the board on Monday are former chief of the Indian Army, General V P Malik; S L Rao, the first chairman of the Central Electricity Regulatory Commission; Leena Srivastava, executive director of Tata Energy Research Institute; and Professor Ramachandran of the IIM, Bangalore.

The Reliance group nominees apart from Anil Ambani are Satish Seth, Amitabh Jhunjhunwala, S C Gupta and JP Chalsani. The three whole time directors are S S Dua, K H Mankad and K D Kulkarni.

The other four independent directors are Cyril Shroff, senior director, Amarchand & Mangaldas & Suresh A Shroff & Co; the GIC nominee Gautam Doshi who is also senior partner, R S M & Co; LIC nominee Y P Gupta and the nominee of the Maharashtra government.


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