Dabur appoints Dr Ajay Dua as director
31 Dec 2009
Dabur India Ltd has announced the appointment of Dr Ajay Dua, former secretary, Government of India, as an independent director on its board.
Dua's appointment as an independent director supports the company's efforts towards improving transparency in operations, Dabur said in a release.
"Corporate governance and transparency in action are of high priority for Dabur. It believes that excellence in governance and superior financial performance go hand in hand," the release added.
The Burman family - promoters of Dabur - had handed over management of the company to a professional CEO and limited their role to strategic inputs at the board level in 1998.
The decision was taken in response to the changing dynamics of business and to inculcate a spirit of corporate governance within Dabur India. Post-1998, the Burman family has retreated from the day-to-day operations of the company and have also reduced their strength on the board of directors to four. The promoters provide the strategic direction to the company and the group, besides evaluating newer avenues for growth.