Technoglitch
Core Member
Murali has also stepped down from the board of all United Spirits subsidiaries where he was the director. The company’s board of directors has accepted his resignation.
A chartered accountant by profession, Murali has been in the industry for over 32 years and with the UB Group companies for 22 years.
Diageo Plc, the world’s largest distiller, owns roughly 54.78% of United Spirits, after it bought an additional 26% of the company’s shares from public shareholders for £1.11 billion in July.
Ever since it bought a 25.02% stake in United Spirits from the company and Vijay Mallya-owned UB Group in July last year, Diageo has been cleaning up the company’s finances and tightening corporate governance practices.
For a company that prides itself on high standards of corporate governance, Diageo had suffered several embarrassments after buying a stake in United Spirits from India’s largest liquor company and Mallya-controlled UB Group in July 2013.
Soon after the company finally reported its thrice-delayed fourth-quarter earnings in September 2014, the new management of United Spirits initiated an inquiry into the accounting practices of the company as several cases of suspected financial impropriety surfaced.
P.A. Murali resigns as United Spirits CFO - Livemint
A chartered accountant by profession, Murali has been in the industry for over 32 years and with the UB Group companies for 22 years.
Diageo Plc, the world’s largest distiller, owns roughly 54.78% of United Spirits, after it bought an additional 26% of the company’s shares from public shareholders for £1.11 billion in July.
Ever since it bought a 25.02% stake in United Spirits from the company and Vijay Mallya-owned UB Group in July last year, Diageo has been cleaning up the company’s finances and tightening corporate governance practices.
For a company that prides itself on high standards of corporate governance, Diageo had suffered several embarrassments after buying a stake in United Spirits from India’s largest liquor company and Mallya-controlled UB Group in July 2013.
Soon after the company finally reported its thrice-delayed fourth-quarter earnings in September 2014, the new management of United Spirits initiated an inquiry into the accounting practices of the company as several cases of suspected financial impropriety surfaced.
P.A. Murali resigns as United Spirits CFO - Livemint
