Dry cell battery major Eveready Industries India has appointed its former Chief Financial Officer as the joint managing director to increase the professional depth in the management.
This post was solely enjoyed by the Khaitan family earlier.
The company in a statement said the board has appointed Suvamoy Saha as the joint managing director of the company.
He had left the company 2-3 years back and was a director and CFO of Eveready. Currently, he is a non-executive director of the company.
Dabur family is the largest shareholder of the company with nearly 20 per cent stake while holding of Kolkata-based Khaitans has come down to about five per cent.
"We wanted to add professional depth in the management," Amritanshu Khaitan, managing director of the company, said.
He will continue to be the joint managing director and his uncle Aditya Khaitan as chairman of the company.
"We are very much in the company management," Khaitan said.
Dabur family had said they are the financial investor in the company and had no plan to take direct control.
Analysts said that as the largest shareholder, they will push to reduce family control and increase professional management in the company for day to day affairs.
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