Britannia Industries announced that its board of directors has approved the appointment of Dr. Urjit Patel, as an Additional Director of the company in the category of Non-Executive and Independent Director with effect from 31st March, 2021 for a term of 5 years i.e., upto 30th March, 2026, subject to approval of the shareholders of the Company.
Dr. Urjit Patel fulfills the criteria of independence as required under the provisions of the Companies Act, 2013 and the Rules framed thereunder and the SEBI (LODR) Regulations, 2015, the company said.
Urjit Patel’s four year tenure as RBI governor had started in September 2016, however, he stepped down from his position in December 2018, citing ”personal reasons” for the move.
