Chandu Morzaria, former managing director of Bata India Ltd, will continue as the regional executive of Bata Asia and will operate from Kolkata. He will also continue as the senior executive vice president and executive director of commercial services at the Bata world headquarters, Canada.
AL Mudaliar, chairman, Bata India said, "To meet the current international challenges, Bata headquarters requires Morzaria's presence in Toronto as well."
Fernando Garcia, previously the joint managing director has recently assumed the day-to-day management of Bata India. Mudaliar said, "The appointment of Garcia allows Morzaria to concentrate on his role as regional executive for Bata companies in Asia including Bata India."
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Morzaria will continue as a director of Bata India and will focus on the development of strategies to Bata India. He will work closely with Garcia on the implementation of these strategies.
The company clarified that Morzaria's resignation as managing director has no connection whatsoever with the company's results for the third quarter. Jim Pantelidis, chairman and chief executive officer stated, Morzaria's ability without question is of the highest calibre within the Bata Show Organisation (BSO) organisation and his assignment to India only underlines the extent to which he felt the importance of the Indian operation to the future success of BSO.
Confirming the position, sources indicated that the reassignment of Morzaria reflected new market compulsion in a competitive environment borne out by the immense pressure on margins in the company's quarterly results.