Mumbai, Oct. 24: In yet another indication of the succession pattern emerging at the Bombay Dyeing group, Jeh Wadia, youngest son of group chief Nusli Wadia has being appointed as the deputy managing director of Bombay Burmah Trading Corporation Ltd
Jeh Wadia has been appointed to the post for five years, the company informed the Bombay Stock Exchange today. The appointment took effect today. However, the appointment and remuneration are subject to shareholders’ approval at the general meeting, the company added. In the latest submission made to the stock exchanges, Bombay Burmah has revealed that its promoters hold close to a 59 per cent stake in the company.
Corporate analysts said the development indicated the succession pattern emerging in the group over the past few year. It may be recalled that both Ness N. Wadia and Jeh N. Wadia were appointed management cadre executives at Bombay Dyeing in January 1995. Ness Wadia joined the business in the mid-90s as a senior manager in the marketing department. He later studied at Warwick University in the UK. Jeh Wadia, then 29, was also on the boards of Citurgia Biochemicals and Gherzi Eastern.
Last year, Bombay Dyeing informed the stock exchanges that it had appointed Ness Wadia as deputy managing director. Ness Wadia, then 31, was also on the boards of other Wadia group companies that included National Peroxide, Nowrosjee Wadia & Sons and Gherzi Eastern (a joint venture with a Swiss major).