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Bosch appoints Dr. Steffen Berns as MD

The Board of Directors of Bosch Ltd at its meeting held on December 07, 2012, has approved the changes in the senior management of the company.

The Board took note of retirement of Mr. V. K. Viswanathan, Managing Director, from the close of office hours on December 31, 2012 upon completion of his term and appointed Mr. V. K. Viswanathan as Non-Executive Director and Vice Chairman of the Board with effect from January 01, 2013.

The Board approved appointment of Dr. Steffen Berns as Additional Director and Managing Director of the Company from January 01, 2013 to December 31, 2016 and as spokesman of the Company with effect from January 01, 2013.

The Board accepted the resignation of Dr. Manfred Duernholz, Joint Managing Director from the close of office hours on December 31, 2012 upon his assuming senior responsibility in Robert Bosch GmbH.

The Board took note of cessation of Mr. Soumitra Bhattacharya as Alternate Director to Dr. B. Bohr from close of office hours on December 31, 2012 and approved appointment of Mr. Soumitra Bhattacharya as Additional Director and Joint Managing Director of the Company from January 01, 2013 to December 31, 2016.

The Board also approved appointment of Mr. Bhaskar Bhat, Managing Director, Titan Industries Limited as Independent Director of the Company with effect from January 01, 2013.

The Bosch Ltd stock closed the day at Rs.9123, up by Rs.18.95 or 0.21%. The stock hit an intraday high of Rs.9217 and low of Rs.9085.50.

The total traded quantity was 1195 compared to 2 week average of 738.

Source: Equity Bulls

Posted On: 2012-12-08 21:02:42

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