Top Level Reshuffle At Tata Chemicals, Tata Power

The Tata group has initiated a reshuffle of top portfolios in group majors. Both Tata Chemicals and Tata Power now have new chief financial officers in Sunil Wadhwa and Amulya Charan, respectively.

While Wadhwa, who comes from erstwhile group company Hitech Drilling, replaces SUK Menon, Charan will fill up the position left vacant by the resignation of former Tata Power executive director C R Vevaina last year.

Unlike Vevaina, Charan, who moves over from the group's auto components arm Taco, will not get a berth on Tata Power's board and will be designated vice president (finance).

Wadhwa's predecessor Menon, on the other hand, has been shifted to Tata Engineering as its vice-president (internal audit).

Yet another significant change has been at Nelco, where Madhu Bhagwat, the former Tata Honeywell managing director, will be the new chairman replacing group's old hand KM Gherda.

Gherda, who is also the chairman of Tata Services, said: "Because of my age, I am withdrawing from different Tata company boards."

Bhagwat, currently an advisor to Tata Sons, also plays a critical role in driving the Tata Business Excellence Model, meant to improve group affilitiates' processes and performance, across group companies.

The appointments follow the other major changes at the chairman level last month. Farouk Kavarana, the former executive director of Tata Engineering, has been redisgnated as executive chairman of Tata Infotech. Kavarana is also a director of group holding company, Tata Sons.

Voltas' managing director Nawshir Khurody, who retires later this month after reaching 65, will replace Xerxes Desai as the non-executive chairman of Tata Infomedia, the group's publishing arm.

Khurody will be replaced at Voltas by Ashok Soni, currently deputy managing director. Desai, who is the vice-chairman and managing director of Titan Industries, will be succeeded next year by deputy managing director Bhaskar Bhat.

Even at Tata Power, Firdaus Vandrevala has been appointed as the new deputy managing director and will succeed managing director Adi Engineer next year.