MUMBAI, March 16: The managing director and president of Greaves Ltd, a Thapar group company, Shekhar Dutta has decided to call it a day, two years before his present term expires in 2000. Datta, who has been with Greaves for the past 38 years, will step down from his post on March 31. The 60-year-old Datta, however, will continue to remain on the board as a non-executive director. "I will always be available for any kind of advice, guidance or support," said Datta.As per the new structure devised by Greaves, the managing director's post will remain vacant. Instead, it will esentially be run by two executive directors who will be responsible for all policy-level decisions and a president and chief operating officer (COO) responsible for the day-to-day affairs.
To ensure a smooth transition, two professionals from the company, SK Roy and P Sachdev, were promoted as executive directors on the board last April. According to Datta, after his retirement, the two will take over the responsibilities for allpolicy-level decisions.
Under the new structure, Roy will be responsible for all decisions relating to the portable engine activity, while Sachdev will look after the company's infrastructure-related businesses.
SK Dadlani, who is heading one of the business groups of Greaves and is responsible for the industrial products division, polymer activities and the international operations of the company, is being promoted as the new president and COO.
While Datta has decided not to take up any executive role in corporate India, he will be chairman of the newly formed joint venture, Piaggio Greaves. That will, however, be as a nominee of the Italian major.
It is also understood that Datta is considering stepping down from the board of other Greaves companies such as Crompton Greaves, but will continue on the board of other companies like BHEL. Datta, however, wants to step down from the board of other companies by the time he turns 65.
According to Datta, he wanted to step down from the post so that theyounger generation could get an opportunity to lead the company. "It is only when you give them an opportunity to lead an organisation that you get the best out of them," he said.
Datta added that as a professional one should not pretend to be indispensable to the organisation. "One must lay down certain norms and set examples and not pretend to be indispensable," he said.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
