MUMBAI, Mar 19: GEC Alsthom India, the 51 per cent-owned subsidiary of UK-based GEC, has undertaken a top-level shakeup, replacing managing director Ramesh Daga with KN Moradian, the company's executive director (finance).The 58-year-old Daga has also given up his concurrent position as the company's chairman, while the Calcutta-based industrialist Saroj Poddar has taken up the mantle of non-executive chairman.
Daga, who has been with the company for three years, apparently quit for "personal reasons". "He had his own reasons for wanting to leave, we do not know his immediate future plans," was the response of GEC Alsthom's official spokesperson.
Daga had served a successful tenure with Gujarat Heavy Chemicals Ltd before his induction at GEC Alsthom. His departure comes in midst of the company's restructuring. Daga is also believed to have resigned from key positions of a number of GEC Alsthom subsidiaries.
The company has also been fighting an economic slowdown which has seen a general industryresistance to add capital goods, GEC Alsthom's main product line.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
