Jeh Wadia quits 2 Wadia corporations, exits boards of all listed group corporations

Jeh Wadia quits 2 Wadia corporations, exits boards of all listed group corporations

Jehangir Wadia has stop the boards of Britannia Industries and Bombay Burmah Buying and selling Corp., withdrawing from all listed companies of the $15-billion Wadia Group.

Jehangir, 48, in March resigned as managing director of his family-controlled airline of Go Airways (rebranded as Go First). A month later, Bombay Dyeing and Manufacturing Firm mentioned Jehangir had stepped down as its managing director.

Britannia’s newest annual report final week mentioned Jehangir (or Jeh in media stories) didn’t supply himself for reappointment to the board. Mint stories that two folks conscious of developments had advised the newspaper Jehangir’s departure is related to variations with father, Nusli Wadia.

“Mr. Jehangir N Wadia, Non-Government Director, who retires by rotation on the ensuing AGM by way of Part 152 of the Firms Act, 2013, has not provided himself for re-appointment. The Board of Administrators at their Assembly held on 30 July, 2021 resolved to not fill the ensuing emptiness and the identical is positioned earlier than,” mentioned Britannia’s annual report.

Bombay Burmah’s annual report carries an similar discover that claims a decision shall be introduced earlier than shareholders at its annual assembly.

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