1. United Spirits chief financial officer resigns

United Spirits chief financial officer resigns

The Diageo controlled United Spirits (USL) on Thursday said that its executive director and chief financial officer PA Murali...

By: | Published: April 24, 2015 12:49 AM

The Diageo controlled United Spirits (USL) on Thursday said that its executive director and chief financial officer PA Murali has resigned from the company, without ascribing any reasons to his exit. The company also did not specify if it had identified his successor.

“We can confirm that PA Murali has, through letter dated April 22, 2015, resigned as executive director and chief financial officer of USL and from the board of directors of all subsidiaries of the company on which he was a director. The USL Board of Directors has accepted his resignation effective immediately,” the company said in a statement.

Murali, a 22-year veteran at the UB Group which he joined in 1993, had led the merger of the UB Group’s spirits companies a decade ago and also its subsequent acquisition of Scotch distiller White & Mackay, an asset that was sold off last year to comply with competition rules in the UK. Murali also had played a key role in structuring USL’s deal with Diageo Plc three years ago. The British liquor giant now controls 54.78% stake in USL. He had continued in the position of CFO and was designated executive director when USL, under its new owner, revamped its board in July 2013.

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Tags: Diageo
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