United Breweries Limited (UBL), India's largest brewer owned by Vijay Mallya, has created a post of joint president and has elevated Shekhar Ramamurthy to the post. Prior to this, Ramamurthy was deputy president, overseeing sales & marketing, besides international operations.
In the new role, he will be incharge of strategic planning, HR in addition to his earlier responsibilities and he will report to Kalyan Ganguly, president & MD, of UBL.
Its a new position created in UBL similar to the structure of United Spirits, another group company of UB Group. It may be recalled that after Vijay K Rekhi stepped down as the MD of United Spiritis, Mallya had created a similar structure by appointing Ashok Capoor as the president, while P Murali was made joint president & CFO of United Spirits.
Kalyan Ganguly, like Vijay K Rekhi, has been a veteran of United Breweries having steered the company to exceptional heights with it controlling significant share in the beer market.
UB Group officials however declined to comment on whether the move to elevate Ramamurthy as the joint president is a step to prepare him to be the next person to lead UBL after Ganguly retires. "It is for the chairman - Vijay Mallya, to take a call on that aspect," senior officials of UB Group said.
The strengthening of the top layer of UBL comes at a time when the group is going through a tough phase with both United Spirits and Kingfisher Airlines burdened with huge leverage issues.
There has been buzz in the marketplace as well that Mallya may dilute his 37.5% stake in United Breweries in favour of the joint venture partner - Heineken, the Dutch brewer which also holds equal stake.
