The Diageo-controlled United Spirits (USL) announced the appointment of MK Sharma as its new chairman, a day after the embattled liquor baron Vijay Mallya resigned from the post. “Following Dr Mallya’s resignation, the board of directors of the company is pleased to announce that Mahendra Kumar Sharma, Independent Director and Chairman of the Audit Committee, has been appointed the chairman of the board with effect from February 25, 2016,” USL said in a BSE filing.
Mallya’s exit from the board of United Spirits ended a long-drawn tussle between him and the majority owner, UK’s Diageo, following allegations of irregularities on loans given to UB Group companies.
1. The new Chairman of USL replaced whom?
Source: The Pioneer