V C Burman To Continue As Dabur Chief

The Dabur India board today decided that outgoing chairman V C Burman would continue as the chairman of the company. The decision was taken at a meeting held before the annual general meeting.

V C Burman was slated to make way for his cousin G C Burman, who was the vice-chairman and managing director. However, he passed away a few days back.

The board has not specified how long V C Burman will remain as the chairman.

Anand Burman, son of A C Burman, has been promoted from the deputy managing director to the vice-chairman. As per the succession plans of the Burmans, Anand Burman was supposed to take over from G C Burman. He is expected to take over from V C Burman, rather than G C Burman's brothers Pradip Burman and Sidharth Burman.

 

At present, Anand Burman is looking after Dabur Oncology Plc, a fully owned subsidiary of Dabur India in the UK. The company has been set up to focus on the general oncology market in Europe, joint research and production of drugs in small batches for clinical research.

In the last financial year, the company set up a cytotoxic sterile manufacturing plant for oncology formulations. It is now in the process of getting MCA approvals for the plant. The company is slated to begin commercial production by the end of the year.

While Pradip Burman is in charge of other group companies such as Ayurvet and Sanat Products, London-based Sidharth Burman handles the overseas forays of the group.

The board has also decided to abolish the posts of managing director and joint managing director. The company is being managed by its chief executive, Ninu Khanna.

Dabur India director (corporate affairs) P D Narang will be inducted in the management committee to fill the slot earlier held by G C Burman.

V C Burman informed the shareholders that Vatika had become the fifth brand from the company's stables to cross the Rs 100 crore sales mark. He also said the pharmaceutical business was growing at a fast clip and now it contributes around 14 per cent to the company's turnover.