FMCG company Procter & Gamble today said its board has accepted the resignation of Bharti Patel as Director and Chairman of the Board of Directors and have elected R A Shah for the post.
"Bharat Patel, Chairman, submitted his resignation as Director and Chairman of the Board of Directors of the company with effect from close of business hours on March 31, 2009," the company said in a filing to the BSE.
The company said that the Board has accepted the said resignation with regret and placed on record appreciation of Patel's contributions and support towards the growth and progress of the company.
Further, it also said that the board has elected R A Shah as Chairman of the Board of Directors with effect from April 1, 2009.