Vijay Mallya to continue as USL non-executive director, chairman

Following the preferential allotment, Diageo Bidco nominated Gilbert Ghostine as non-executive director of USL

Global spirits major Diageo said it had made several management changes. Vijay Mallya will continue as USL’s non-executive director and chairman, while Ashok Capoor will continue as chief executive. Following the preferential allotment in May, Diageo Bidco had nominated Gilbert Ghostine as non-executive director of USL, and USL confirmed the appointment at that time.

On Thursday, after the closing of the share purchase agreement, Diageo Bidco nominated Ravi Rajagopal as a non-executive director of USL. In addition, Diageo Bidco has confirmed P A Murali as the chief financial officer and also nominated him as an executive director of USL. Ten directors are being appointed, sources said.

The board was to meet late on Thursday evening. According to sources, Arun Gandhi, Sudhakar Rao, D Sivanandhan and Renu Karnad are being appointed as additional non-executive directors of USL. All of them will be independent directors.The shareholders’ agreement - in relation to USL - between Diageo, Diageo Bidco, UBHL and Kingfisher Finvest India (KFinvest) came into effect on Thursday.