Tata Tea MD joins Mount Everest Mineral board

MUMBAI: Tata Tea Managing Director P T Siganporia has joined as non-executive chairman in the newly-constituted Board of Mount Everest Mineral Water (MEMW).

Tata Tea, which acquired 50 per cent of the promoters' stake in MEMW in June, has also subscribed to a preferential equity of 15 per cent, a joint release by the companies said.

The MEMW Board also includes Pradeep Poddar and Abanti Sankaranarayanan in their capacities as Managing Director and Executive Director respectively.

The Board has three non-executive directors - Ajoy Misra, Salim Govani and Vinod Sethi. Pradeep Mallick, Pinakin Desai and Joseph Kodianthara are independent directors.

Tata Tea will also make an open offer to acquire an additional 20 per cent stake in Mount Everest Mineral Water.