Prs Oberoi Takes Over Eih Reins

PRS Oberoi was today appointed the chairman of East India Hotels (EIH). Oberoi, who is currently the vice-chairman and managing director of the company, succeeds MS Oberoi, who passed away recently, a company statement said here.

The board of directors of EIH, which met here today, also appointed SS Mukherji as the managing director of the company. He has been serving the company as its deputy managing director.

Both the above appointments are effective June 27 and are subject to the approval of the shareholders at the annual general meeting. Nusli Wadia, Rajan Raheja and Christopher Reeves have also been co-opted on the board. Wadia is the chairman of Bombay Dyeing and Britannia Industries Ltd. Raheja is chairman of Prism Cement while Reeves was formerly the chairman of Merrill Lynch, United Kingdom.

 

The board of EIH also announced a dividend of Rs 6 per equity share for the year 2001-02, the release added.

The company clocked a 17.55 per cent fall in the turnover during the last year which fell from Rs 518.31 crore in 2000-01 to Rs 427.33 crore in 2001-02.

The net profit fell 62.48 per cent from Rs 94.82 crore in 2000-01 to Rs 35.57 crore in 2001-02.