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Britannia to not fill vacancy after Jeh Wadia’s exit

Britannia to not fill vacancy after Jeh Wadia’s exit

Addressing the reason for Wadia’s step-down, Britannia said that the Non-Executive Director has not offered himself for re-appointment

Jeh Wadia with former Aviation Minister Hardeep Singh Puri Jeh Wadia with former Aviation Minister Hardeep Singh Puri

Britannia said that the vacancy that has risen from Jehangir Wadia’s exit will not be filled. The decision was taken by the company during its annual general meeting on September 6. Wadia ceased to be the director of the company on Monday.

“This is to inform you that the Members of the Company at the 102nd Annual General Meeting of the Company held today i.e., 6th September, 2021 resolved not to fill vacancy arising out of retirement of Mr. Jehangir N Wadia (DIN: 00088831), Non-Executive Director, in terms of Section 152 of the Companies Act, 2013. Accordingly, Mr. Jehangir N Wadia ceased to be the Director of the Company w .e.f 6th September 2021,” stated the company in a filing.

Addressing the reason for Wadia’s step-down, Britannia said that the Non-Executive Director has not offered himself for re-appointment.

Jeh Wadia has stepped down from two of the Wadia Group firms as well as exited the boards of multiple listed companies. He quit the boards of Britannia Industries and Bombay Burmah Trading Corp, and resigned as Managing Director of Go First airline, and Bombay Dyeing and Manufacturing Company.

While it is not clear why Jeh has decided to step down from these companies, murmurs of dissent between father Nusli Wadia and son has begun to gain ground. After Jeh stepped down from Go Airlines, his father took charge of the company. Soon after Go Air filed its prospectus with market regulator, SEBI. The airline was quickly rebranded to Go First too.

Also read: Where does Jeh Wadia go from here?

Published on: Sep 07, 2021, 8:59 AM IST
Posted by: anwesha madhukalya, Sep 07, 2021, 8:55 AM IST