Dabur Appoints Dr. Ajay Dua As Independent Director
Moving forward on its commitment towards excellence in Corporate Governance, consumer goods major Dabur India Ltd today announced the appointment of Dr. Ajay Dua, former Secretary, Government of India, as an independent director on its board. With this, the number of independent directors on the Dabur India Ltd board has risen to six.
Tweet-- Moving forward on its commitment towards excellence in Corporate Governance, consumer goods major Dabur India Ltd today announced the appointment of Dr. Ajay Dua, former Secretary, Government of India, as an independent director on its board. With this, the number of independent directors on the Dabur India Ltd board has risen to six.
"Corporate governance and transparency in action are of high priority for Dabur. We believe that excellence in governance and superior financial performance go hand in hand, and the induction of Dr. Dua as an independent director supports our efforts towards improving transparency in operations," said Mr. P D Narang, Group Director, Dabur India Ltd.
In 1998, the Burman family -- promoters of Dabur -- had handed over management of the company to a professional CEO and limited their role to strategic inputs at the Board level. The decision was taken in response to the changing dynamics of business and to inculcate a spirit of corporate governance within Dabur India. Post-1998, the Burman family has receded from the day-to-day operations of the Company. They have reduced their strength on the Board of Directors to 4 members and only provide broad policy guidelines for growth and diversification. The promoters provide the strategic direction to the Company and the group, besides evaluating newer avenues for growth.
"Dabur has not only followed all the legal and regulatory requirements, but also developed corporate governance guidelines for itself. We believe that the family has a trusteeship role to follow both in terms of perpetuating the family business and in preserving and growing the business. For Dabur, the family and the business are institutions to preserve," Mr. Narang said.
Notes to Editor
About Dr Ajay Dua
Dr Ajay Dua, a graduate of St Stephens' college and a career civil servant, joined the Indian Administrative Services in 1971. He has held a variety of senior assignments in the Government of Maharashtra and the Government of India, including as Managing Director of industrial promotion corporations, Joint Secretary in the Union Ministry of Power. He was also the Secretary in the Department of Industrial Policy & Promotion of the Ministry of Commerce and Industry, Government of India, between July 2005 and July 2007. Currently, Dr. Dua is a senior business advisor/board member of several multinational corporations. About Dabur India Ltd Dabur India Limited is one of India's leading FMCG Companies. Building on a legacy of quality and experience for over 125 years, Dabur is today India's most trusted name and the world's largest Ayurvedic and Natural Health Care Company. Dabur India's FMCG portfolio today includes five flagship brands with distinct brand identities -- Dabur as the master brand for natural healthcare products, Vatika for premium hair care, Hajmola for digestives, Réal for fruit-based beverages and Fem for fairness bleach.