Acharya Balkrishna has resigned as the Managing Director of Ruchi Soya Industries "due to his preoccupation". He has been designated as the non-executive non-independent director effect from August 19, 2020.
"Acharya Balkrishna has resigned from the office of Managing Director of the company with effect from August 18, 2020, due to his pre-occupation. The Board of Directors has accepted his resignation and relieved him from his duties as Managing Director of the company," Ruchi Soya told the exchanges on Wednesday.
He will be succeeded by Bharat Ram, a whole-time director of the company, "not liable to retire by rotation, other terms and conditions remaining same subject to approval of members of the company," Ruchi Soya said.
Ruchi Soya also appointed Chief Executive Officer Sanjeev Asthana as the key managerial personnel of the company with effect from August 19, 2020. Asthana has done his Masters in Business Management from Institute of Rural Management, Anand (IRMA) and International Trade from Indian Institute of Foreign Trade (IIFT), New Delhi. He has served with several large organisations, including State Trading Corporation of India, Britannia, ITC, Cargill, Reliance Retail and Ruchi Soya. He is a recognised expert in food and agriculture business and has served on several committees and boards.
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