According to industry sources, in the event of Mr Khusrokhan taking over as managing director of Tata Tea, he would have to resign from the directorship of HLL. Mr Khusrokhan was inducted on the board of the fast-moving consumer goods major in 2000. Mr Khusrokhan may not seek re-election in the coming annual general meeting of HLL in case he is to take over as managing director of Tata Tea, sources pointed out.

According to industry sources, Mr Percy Siganporia, who is the current chief executive officer of Tata Tea is likely to take over as the deputy managing director of the company. Mr RK Krishna Kumar, current vice chairman of Tata Tea, was earlier the managing director of the company.

Last year, Mr Khusrokhan, 57, decided to call it a day at Glaxo and Burroughs Wellcome even as he continued as managing director of the companies till the end of 2000. The decision was taken following mutual consent reached with the British multinational on the issue.

Mr Khusrokhan's decision to quit was taken at a time when Glaxo Wellcome was in the midst of a global merger with SmithKline Beecham. Mr Khusrokhan had taken charge as Glaxo (I) managing director on May 1, 1996, though he had been appointed joint managing director of the company up to August 9, 1995.