BK Birla to continue as chairman of the groupJuly 1st, 2010 - 4:31 pm ICT by IANS
Kolkata, July 1 (IANS) Basant Kumar Birla Thursday confirmed that he would continue to be the chairman of the B.K. Birla Group of companies and all the businesses would go to his grandson, Kumar Mangalam Birla, after his demise.
“Our son expired many years ago. Kumar Mangalam is our grandson. I have told Kumar to take charge many times. He only smiles. He says ‘I am not going to take charge of any of our companies as long as you are alive’,” he told reporters on the sidelines of the company’s annual general meeting.
Kumar Mangalam Birla is the chairman of the $29-billion AV Birla Group.
Asked whether his daughter Manjushree Khaitan is taking active interests in the company, he said: “I am asking her to take active interest. But the difficulty is as long as I am alive nobody takes active interest.”
B.K. Birla has two daughters, Manjushree Khaitan and Jayshree Mohta. His son Aditya Vikram Birla died in 1995.
About the succession plans, B.K. Birla said: “Kumar Mangalam is better than me in business. Manjushree will look after the company with the advice of Kumar Mangalam.”
Asked whether Kumar Mangalam and Manjushree will co-won the group, B.K. Birla said: “No.”
“I think Kumar Mangalam will be the chairman and Manjushree will be the vice-chairman. All my things (businesses) will go to Kumar Mangalam but part of it will go to my daughters also,” he said.
The group is engaged in businesses like cement, tyres, rayon and transparent paper, spun pipes, tea and heavy chemicals.
- 'Kumar Mangalam will take charge of Kesoram when required' - Jul 05, 2011
- Kesoram plans to invest Rs.2,000 crore in 15 months (Lead) - Jun 26, 2009
- Kumar Mangalam to head Kesoram after B.K. Birla - Jun 26, 2009
- Kumar Mangalam Birla has no plans to join Kesoram board - Feb 18, 2010
- Birla to raise promoters' stake in group firms - Jun 27, 2009
- BK Birla for Mangalam Timber, Mangalam Cement merger - Jul 01, 2010
- Mangalam Timber offers merger with Mangalam Cement - May 03, 2010
- At Birla marriage anniversary, Mamata talks business - Apr 29, 2012
- Kesoram Industries posts net profit of Rs.36.83 crore - Jan 28, 2010
- Kesoram posts Rs.26 crore profit in Q4 - Apr 28, 2010
- Phillips Carbon Black to persist with Evonik bid - Jan 31, 2011
- Aditya Birla Nuvo to buy controlling stake in Pantaloon - Apr 30, 2012
- Aditya Birla Nuvo to buy controlling stake in Pantaloon (Lead, Superseding earlier story) - Apr 30, 2012
- Biography of B.K.Birla, wife released - May 01, 2011
- Will find way out of Supreme Court verdict: Birla - Feb 14, 2012
Tags: , , , , , , , , , , , , , , , , , , ,