ACC gets new chairman in Tarun Das of CII
Mumbai: The board of directors of cement major, ACC Limited, today appointed Mr. Tarun Das, Director-General, CII, as the new chairman. He replaces Mr. Pallonji Mistry -- who has been a director of the company for over 48 years -- who has retired from the company board for personal reasons. According to a company release, Mr Das has made a success of CII and is publicly suited for a company of ACC’s size.

Also retired from the board for personal reasons, is Dr. S. Ganguly, who was vice chairman and has been associated with the company for over 11 years in both executive and non-executive capacities.

Analysts said that the move by both Mr. Mistry and Mr. Ganguly to leave the ACC Board gives Gujarat Ambuja Cement Ltd (GACL) greater say in the management of ACC. It will give GACL more powers to undertake restructuring in the company, which is so vital for its growth.
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RBI governor's term extended
New Delhi: Dr. Bimal Jalan, the governor of the Reserve Bank of India, has been granted a two-year extension by the Government, after his current three-year tenure comes to an end on November 22.

Dr. Jalan who took over as the RBI Governor in November 1997, from Dr. C. Rangarajan, the present Governor of Andhra Pradesh, was earlier Member-Secretary, Planning Commission.
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Rossell Industries board reconstituted
Calcutta: In anticipation of receiving a clearance from the government on its take-over of Rossell Industries, Unilever group company, Hindustan Lever, has moved in swiftly to reconstitute the company's board of directors.

At a board meeting in Calcutta on Wednesday, four HLL nominees -- Mr. R Karunanithi, Mr. S. K. Dhall, Mr. Prince Ashirvathan and Mr. H.S. Siddhu -- were inducted as directors on the board. They will replace Mr. Y. K. Modi, the erstwhile owner and his nominees, Mr. P. K. Kaul, Mr. N. C. Pohani and Mr. S. Baijal.

Mr. Deepak Atal, the present managing director continues on the board.

HLL's formal entry into Rossell seems have have sent shock waves across the organisation as the employees’ fate has become uncertain, pursuant to a stated decision to move the Rossell headquarters to Mumbai in due course.
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