Flender makes changes in top management
Flender Ltd, currently part of Siemens AG, on Monday announced changes in its top management with effect from October.
By TNN |
KOLKATA: Siemens Ltd, which recently acquired Kharagpur-based manufacturer of industrial gearboxes, Flender Ltd has brought about a change in top management in the company. Mr Thirumala Rao is slated to take over as the new managing director of Flender Ltd with effect from October 1, 2006.
Mr Rao has been appointed managing director designate with immediate effect. This was decided at a board meeting of the company on Monday. He takes over from Mr S Mullick who had been serving as the company’s managing director since February 2003 and has now stepped down on his own citing personal reasons, a company statement said.
Mr Udoe Land, chairman, Flender Ltd said: “With Flender Ltd now a part of the Siemens conglomerate, both the companies stand to derive substantial synergistic advantages. We are confident that the new man-agement team led by Mr Rao will continue to drive the growth strategy forward."
Mr. Rao, a mechanical engineer from IIT Kharagpur has had a long
association with Flender Ltd where he rose from being a trainee to head-ing the Kharagpur Works. After a short stint of about a year outside, he re-joins Flender as the managing director. The company is a leading player in industrial gearboxes segment and caters to market segments like cement, sugar, steel and rubber.
Flender Ltd, a leading player in industrial gearboxes segment, is now a 100% Siemens company with Flender AG (a 100% subsidiary of Siemens AG) and Siemens Ltd, each holding a 50% stake. In May 2006, Siemens Ltd. had acquired the 50% stake in Flender Ltd. from Babcock Borsig Ltd. Subsequently in July 2006, the board of Siemens Ltd decided to acquire the remaining 50% stake in Flender Ltd, from Flender AG. The acquisition process is currently in progress awaiting the requisite statutory and regulatory approvals.
Mr Rao has been appointed managing director designate with immediate effect. This was decided at a board meeting of the company on Monday. He takes over from Mr S Mullick who had been serving as the company’s managing director since February 2003 and has now stepped down on his own citing personal reasons, a company statement said.
Mr Udoe Land, chairman, Flender Ltd said: “With Flender Ltd now a part of the Siemens conglomerate, both the companies stand to derive substantial synergistic advantages. We are confident that the new man-agement team led by Mr Rao will continue to drive the growth strategy forward."
Mr. Rao, a mechanical engineer from IIT Kharagpur has had a long
association with Flender Ltd where he rose from being a trainee to head-ing the Kharagpur Works. After a short stint of about a year outside, he re-joins Flender as the managing director. The company is a leading player in industrial gearboxes segment and caters to market segments like cement, sugar, steel and rubber.
Flender Ltd, a leading player in industrial gearboxes segment, is now a 100% Siemens company with Flender AG (a 100% subsidiary of Siemens AG) and Siemens Ltd, each holding a 50% stake. In May 2006, Siemens Ltd. had acquired the 50% stake in Flender Ltd. from Babcock Borsig Ltd. Subsequently in July 2006, the board of Siemens Ltd decided to acquire the remaining 50% stake in Flender Ltd, from Flender AG. The acquisition process is currently in progress awaiting the requisite statutory and regulatory approvals.
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