Beleaguered automobile company Hindustan Motors (HM) has recast its management and said that it would hire, as part of its restructuring efforts, an external consultant to get a perspective of the challenges and possible solutions for the Uttarpara plant.
The company has already accepted the resignation of three of its key executives — Managing Director Uttam Bose, director Kranti Sinha and Chief Financial Officer Yogesh Goenka.
In a filing on the stock exchanges, it said that Mr. Bose had been made the additional director of the company while Moloy Chowdhury had been appointed the company’s manager (within the meaning of Section 2(53) of the Companies Act , 2013) and designated as the Chief Executive Officer for two years.
Tarun Kabra has been made the Company Secretary and Chief Compliance Officer, while Aniruddha Sarkar has been designated as CFO and Head Legal.
It may be mentioned that Mr. Chowdhury was with HM a few years back with charge of the Uttarpara plant.
“He has been associated with the company for over five years and has a strong understanding of the organisation, its people and its challenges,” the company said in its filing. HML recently demerged its Chennai unit, hiving it off to its wholly-owned subsidiary Hindustan Motors Finance Corporation Ltd.
In December 2013, Chairman C. K. Birla had relinquished his directorship, while stepping down as the Chairman of HML.
The move was aimed at paving the way for entry of strategic investors.