Harish Bhat, who has been with the UB Group for nearly 25 years, has decided to step out of the group. Bhat, is stepping down as the MD of UB Holdings and also as well as its director effective August 20, 2013.
United Breweries (Holdings) Ltd has announced that Bhat who was appointed as MD from August 20, 2010 for a period of three years and whose term expired on August 20, 2013, has ceased to be its MD.
The Board of Directors have appointed V Shashikanth as an Additional Director and as MD of UBHL for a period of three years.
Bhat, along with another UB Group veteran president & CFO - Ravi Nedungadi, has been involved in some of the key transactions of UB Group including the legendary acquisition of Shaw Wallace.
Bhat was also the CFO of United Spirits before moving on to UBHL to oversee Kingfisher Airlines. Off-late, Bhat has been in the thick of things in a slew of legal cases regarding UBHL and Kingfisher Airlines and he also oversaw the debt recast of Kingfisher Airlines.
