Directorate Change
13 12월 2006 - 5:35PM
UK Regulatory
RNS Number:7799N
ACC Limited
13 December 2006
Sub: Changes in Directorate
We wish to inform you about the following changes which have taken place in the
Directorate:
1. Mr M L Narula, Managing Director, is due to retire on
31st March 2007. In order to have a smooth transition,
Mr Sumit Banerjee is appointed as CEO designate and a
Director on the Board from 1st January 2007. Subsequent
to the retirement of Mr M L Narula, Mr Sumit Banerjee will
take over as Managing Director on 1st April 2007. His term
will continue till 31st December 2011.
2. Mrs Shikha Sharma, Managing Director and Chief
Executive Officer of ICICI Prudential Life Insurance
Company Limited, is appointed as an Independent
Director.
The Press Release issued in this regard is attached below.
ACC Press Release
December 13, 2006
Mr M L Narula, Managing Director, retires from ACC on 31st March 2007 on
superannuation after over four decades of meritorious service. Mr Narula has
held various positions including that of Wholetime Director since April 1996 and
as Managing Director from December 2002 onwards.
During his tenure as Managing Director, ACC has been a consistently outstanding
performer. Under his stewardship, ACC's turnover crossed the US$ 1 billion mark,
production touched 16 million tonnes in a year and the profits grew beyond Rs.
500 crore in 2005. The current year's performance has improved on all parameters
as compared to the previous year.
In order to have a smooth transition, Mr Sumit Banerjee is appointed as CEO
designate and a Director on the Board from 1st January 2007. Subsequent to the
retirement of Mr M L Narula, Mr Sumit Banerjee will take over as Managing
Director on 1st April 2007. His term will continue till 31st December 2011.
Mr. Sumit Banerjee is a B.Tech (Hons) in Mechanical Engineering from IIT
Kharagpur. At present he is the Managing Director of Tube Investments Limited.
ACC Board at its Meeting held today has appointed Mrs Shikha Sharma, Managing
Director and Chief Executive Officer of ICICI Prudential Life Insurance Company
Limited, as Independent Director on its Board.
Mrs Shikha Sharma is the Managing Director and Chief Executive Officer of ICICI
Prudential Life Insurance Company Limited since its inception in 2000.
Mrs Shikha Sharma has more than two decades of experience in the financial
sector having begun her career with ICICI Limited. In her years with the ICICI
group, she has been instrumental in setting up various market leading
businesses. In 1992, she was involved in setting up ICICI Securities - a joint
venture between ICICI and JP Morgan.
N. S. Sekhsaria
Chairman
ACC Limited, Cement House, 121 Maharshi Karve Road, Mumbai 400 020. INDIA
Tel: +91 22 66654321
This information is provided by RNS
The company news service from the London Stock Exchange
END
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