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.
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Tags: annual general meeting, basant, birla group, bk, cement, chemicals, demise, jayshree, july 1, khaitan, kumar birla, mangalam, pipes, rayon, sidelines, succession, tea, transparent paper, two daughters, vice chairman