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Regular-article-logo Saturday, 11 May 2024

RESHUFFLE AT ASIAN PAINTS 

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FROM OUR CORRESPONDENT Mumbai Published 26.06.99, 12:00 AM
Mumbai, June 26 :     Jalaj Ashwin Dani has stepped down as director from the board of the Asian Paints board and has been redesignated as vice-president, international. This forms part of the restructuring recommended at the top-level management of the paints company by management consultants Booz Allen & Hamilton. As part of the recast, Manish Mahendra Choksi has been redesignated as vice-president-strategic planning and information technology While Jalaj Ashwin Dani is related to vice-chairman and managing director Ashwin Dani, Manish is related to Mahendra Choksi, chairman of the company. Meanwhile, the board has also decided to take the approval of shareholders for appointing Aswin Choksi as executive chairman and Ashwin Dani and Abhay Vakil as managing directors for five years. The company has set up two strategic business units (SBUs). Ashwin Dani will head the growth business and Abhay Vakil will look after Decoratives India, another SBU. K Rajagopalachari, a wholetime director, will look after the corporate centre. Booz Allen & Hamilton recommended the setting up of SBUs. The company has retained the services of the management consultants for the second phase of the project relating to implementation. The board is also being bolstered by Tarjani Vakil, former chairperson of Exim Bank of India. Besides, Ina Dani has been appointed as the director of the company. Setting itself an ambitious goal, the company has adopted the recommended vision to become one amongst the top 10 decorative paints companies in the world by 2003. The company, in line with the recommendations, has set up different levels in management cadres and drawn up key initiatives in areas such as supply chain, marketing planning, industrial business and international operations. The company expects the current year to be better as the paint market is showing signs of picking up. It has undertaken capacity expansion at its Kasna plant during 1998-99.    
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