Amul chief executive resigns, board to decide successor

There’s an air of uncertainty at Gujarat Co-operative Milk Marketing Federation (GCMMF), popular for its Amul brand, with Managing Director B M Vyas putting in his papers. His term was to end this October but Vyas resigned on June 8.

While there is a buzz that R S Sodhi, Chief General Manager, may well get the job, sources privy to the development say Vyas himself may get an extension from the board of directors, considering the success he had achieved in the past five years.

When asked, Vyas told Business Standard: “I have put in my resignation as I am 60 now.” Asked if he would continue if his term was extended by the board, he declined to comment.

Vyas was earlier offered a job in the Mukesh Ambani-controlled Reliance Industries. “Yes, I was offered a job by Reliance five years ago but I had turned it down at the board’s request.” Would he consider such an offer again? Vyas said: “I have some offers about which I cannot disclose.”

Vyas had worked closely with Verghese Kurien, father of both Amul and the country’s dairy revolution. While Kurien made Amul popular for its butter and cheese, it was under Vyas that the company gained ground in ice-creams, curd, shrikhand and other milk products. The overall turnover of GCMMF is set to reach about Rs 11,000 crore this year.

“Vyas is on a five-year service contract, which is coming to an end this November. He gave me his resignation three days, ago requesting me to relieve him from June 30. The board will take a further decision on this,” said Chairman Parthi Bhatol.

Denying claims of any controversy behind Vyas’ resignation, Bhatol added: “If someone’s term is coming to an end and wants to retire, why should there be an issue?”

Asked who would take Vyas’ place if the board accepted his resignation, Bhatol said someone senior from the organisation who would be of the level of general manager (there are five such) could be eligible. He however, did not rule out the appointment of a person from outside. “It’s for the board to appoint the right person,” Bhatol said.