Grasim Industries named Dilip Gaur as its new Managing Director beginning next financial year, replacing KK Maheshwari. Maheshwari will continue on the board as non-executive director, the company said in a regulatory filing on Friday.
The company said the appointment has been made on the basis of recommendation of Nomination & Remuneration Committee, and is subject to approval. The Aditya Birla Group company has Viscose Staple Fibre (VSF), cement, chemical and textile businesses.
The company produces viscose staple fibre (VSF) used in apparel and cement that makes more than 90 per cent of their revenues. “The company will continue to focus on expanding its domestic market through product development activities, working closely with brands, designers and retailers. A better customer connect through brand Liva is leading to growth in demand for VSF based products in the textile value chain,” it said in a statement after releasing in September quarter results.
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