Swc Shifts Office To Mumbai

Shaw Wallace & Co (SWC) has announced the shifting of its corporate office from Cal-cutta to Mumbai with immediate effect.

According to a release, all executive directors on the board of the company have been transferred to Mumbai. The move has been aimed at improving monitoring and control systems within the company and for facilitating better coordination with financial, commercial and legal associates.

The Wallace House premises in Calcutta will now serve as a regional office. The company has already shifted its liquor, human resource development and corporate finance divisions to Mumbai over the past few months.

Executive director P L Narasimhan, re-inducted into the board, is expected to rejoin in Mumbai in the next two to three months. He will be in charge of strategic planning, fund mobilisation, environmental issues, acquisition and mergers, investment subsidiaries, banking relationships, and bottomline impro-vement planning.

 

P J Rao, an executive director on SWC board has also been transferred to Mumbai.

The release says, Calcutta has been the seat of companys corporate office since most of SWCs earlier business had an eastern focus. With the recent shift in focus to core business having the corporate office at Calcutta made little business sense.