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Bosch, the flagship company of the Bosch Group in India, on Thursday appointed V K Viswanathan chairman of the board of directors, effective July 1. He succeeds A Hieronimus, who would step down as non-executive director and chairman of the board. Hieronimus was associated with the company for about 10 years, the company said in a statement.
He was managing director from September 2003 to January 2008. The board hasn’t set a time frame for Viswanathan’s term. Bernd Bohr, non-executive director, has resigned, effective July 1.
This follows his resignation from the board of Robert Bosch GmbH in Germany. Bohr was responsible for India operations.
Peter Tyroller would succeed Bohr as non-executive director. He would be in charge of Robert Bosch GmbH’s Asia operations.
B Muthuraman, another non-executive director on the Bosch board, has stepped down, with effect from July 1.
Bosch is one of the largest suppliers of technology and services in automotive and industrial technology, consumer goods and building technology. In India, Bosch has set up its largest development centre outside Germany, with an aim to provide end-to-end engineering and technology solutions.
For the year ended December 31, 2012, Bosch reported a 14.6 per cent drop in net profit at Rs 958 crore. Net sales and income from operations rose 6.4 per cent to Rs 8,511 crore.
Today, the company stock closed at Rs 9,052.10 on BSE, down 0.24 per cent.
