Mumbai, Nov. 19: Shaw Wallace & Co Ltd today appointed Asif Adil, R. A. Shah and C. K. Hazari as independent directors on the company’s board.
The company said the three new directors were experts in strategic management, taxation and corporate law. Shaw Wallace called the appointments as an attempt to strengthen corporate governance and broad basing leadership at the top level.
“I am sure their induction would impart professional and cultural diversity to the decision-making process,” Shaw Wallace chairperson V. M. Chhabria said announcing the appointments.
The move is part of the Jumbo Group’s efforts to encourage ideological heterogeneity and resource diversification at critical levels across businesses and companies, she added.
Industry sources say the induction of the trio would enable the company face the fresh onslaught from arch rivals the UB group much better.