Nocil Executive Director Moves Over To Ril

The executive director (works) of National Organic Chemical (Nocil), V V Surya Rau, has quit to join rival Reliance Industries.

Rau was with Nocil for the last 30 years and was a member of the companys core management team. Certain Nocil employees felt the resignation could be a fallout of the companys current negotiations with Dow Chemicals and Shell for joint venture.

Rau is expected to take up his new responsibilities on June 1. Nocil, which put up a very good performance year last year with a net profit of Rs 91 crore. However, the company is unlikely to maintain the good show this year owing to the sluggish markets. Besides, the Arvind Mafatlal group is planning to offload a part of its holding in favour of a global petrochemical major.

The 14-member Nocil board comprises chairman Arvind Mafatlal, deputy chairman Hrishikesh Mafatlal, vice-chairman and managing director N M Dhuldhoya, besides R N Mafatlal, N A Palkhiwala, A C Shah, J R Gagrat, V G Rajadhyaksha, S Ganguly, the ICICI nominee K A Chaukar, GIC nominee M V Purohit besides the three executive directors, V R Gupte, who is in charge of finance, V K Rajpal (marketing) and V V Surya Rau (works).

The 11-member management team of Nocil includes, Arvind Mafatlal, Hrishikesh Mafatlal, Dhuldhoya, V R Gupte, Rajpal, Rau, besides four senior vice-presidents S S Desai, C R Gupte, P D Saurkar, V Vanikar and K V Venkateshwaran.