INDIA: United Breweries Holdings MD departs
UBHL is the holding company behind India's UB Group
United Breweries Holdings Ltd (UBHL) has confirmed that its managing director has left the group after less than a year in the role.
In a one-sentence statement to the Bombay Stock Exchange late last week, the firm, which is the holding company of India's UB Group, said that V Shashikanth's resignation had been accepted. Shashikanth, who was appointed MD last August, has also stepped down as a director of the group.
At the time of his appointment as MD, it was reported he had been offered a three-year contract.
Shashikanth, 52, had worked for the UB Group for the past 22 years in various roles, according to the company's website.
Nobody was available for comment at UBHL. The group, whose chairman is Vijay Mallya, has interests ranging from beer, wine and spirits to aviation, fertilisers and engineering.
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