Tata Coffee Limited reappoints MD, CEO and CFO

The Board of Directors of Tata Coffee Limited has, at its meeting held today, based on the recommendations of the Nomination and Remuneration Committee and subject to approval of the shareholders, approved the re-appointment of Mr. Chacko Purackal Thomas (DIN: 05215974) as Managing Director and Chief Executive Officer of the Company for a term of three years i.e., from April 1, 2022 to March 31, 2025.

The board approved the re-appointment of Mr. K. Venkataramanan {DIN: 01728072) as Executive Director - Finance and Chief Financial Officer of the Company for a term of one year i.e., from October 25, 2022 to October 24, 2023.

The board also approved the appointment of Dr. P. G. Chengappa (DIN: 06771287) as an Independent Director of the Company for a second term of office, for the period from May 18, 2022 to May 17, 2025.

Mr. Chacko Purackal Thomas, Mr. K. Venkataramanan and Dr. P. G. Chengappa are not debarred from holding the office of Director by virtue of any order of the Securities and Exchange Board of India (SEBI) or any other such authority.

Mr. Chacko Purackal Thomas is the Managing Director and Chief Executive Officer of the Company since April 1, 2019. He has been associated with Tata Coffee since August 4, 2015. He has a Bachelor of Science degree with specialisation in Computer Science from the University of Jodhpur. He has completed Advanced Management Programme from INSEAD Fontainebleau. He comes with over 30 years of experience in the plantation industry across general management, business strategy sales, and marketing functions.

Mr. K. Venkataramanan is the Executive Director - Finance and Chief Financial Officer of Tata Coffee Limited since October 25, 2014. He is a Chartered Accountant and a Cost Accountant with over three decades of experience in financial and management accounting, commercial finance, taxation, treasury and corporate restructuring. He was the Vice President (Finance) and Chief Financial Officer of Tata Consumer Products Limited. He oversees risk management, governance and IT functions.

Dr. P.G. Chengappa is an Independent Director of Tata Coffee Limited since May 18, 2017. He is one of the leading Agricultural Economists of the country. Dr. Chengappa served as the Vice Chancellor, University of Agricultural Sciences, Bangalore. He was a visiting professor at the Universities of Reading, Wales, Iowa State University and Purdue. He was appointed as the National Professor by the Indian Council of Agricultural Research, New Delhi. He is a Policy Economist specialized in agri-business and trade. He has over three decades of experience in teaching, research, extension and consultancy. He has published over 100 research papers in national and international journals. He was the President (Elect), Indian Society of Agricultural Economics (2012) and President, Agricultural Economics Review Association, New Delhi (2013-16). As a member of the working group on Agricultural Marketing constituted by the Planning Commission of India, he contributed immensely in preparing the 12th Five Year Plan document. He has been a consultant to several international organizations, which includes International Food Policy Research Institute (Washington), International Plant Genetics Resource Institute (Rome), International Rice Research Institute (Manila), DSE Germany and FAO. He is on the Board of Sam Agri Ltd and Tasty Bite Eatables Ltd.

Shares of Tata Coffee Limited was last trading in BSE at Rs. 200.15 as compared to the previous close of Rs. 198.90. The total number of shares traded during the day was 132950 in over 2563 trades.

The stock hit an intraday high of Rs. 203.45 and intraday low of 197.75. The net turnover during the day was Rs. 26575360.00.

Source : Equity Bulls

Keywords

TataCoffee INE493A01027 ReAppointment MD CEO CFO IndependentDirector