Tata Global Beverages said Cyrus P Mistry has been appointed as director on its board with effect from today. The company's board also appointed Harish Bhat, who was formerly Chief Operating Officer at Titan Industries, as managing director (MD) and chief executive officer of the company for period of five years with effect from July 1,2012.
Bhat, who had taken a sabbatical from work earlier this year, would replace P T Siganporia, whose tenure as MD of the company is up to June 30, 2012, the company said.The company also appointed Darius Pandole as an additional non executive independent director on the board of the company with effect from today.
Tata Sons, the holding company of over $80 billion conglomerate Tata Group, had last year announced that Mistry would succeed chairman Ratan Tata.
TGBL is the world's second largest tea company. It employs over 3000 people worldwide. Some of the known brands of the company include Tata Tea and Tetley.Shares of Tata Global Beverages today closed at Rs 108.10 on the BSE, up 0.37% from its previous close.