Burmans propose Anand Burman, Mohit Burman, Arjun Lamba as Eveready Industries' non-exec directors

The Burmans of Dabur have proposed to appoint Anand Burman, Mohit Burman and Arjun Lamba as non-executive directors of Eveready Industries India, a company where they have recently received the promoter status.

As per a stock exchange filing made on Tuesday, the proposed appointment will be with effect from July 12 subject to approval of the shareholders. The company is likely to appoint the new chairman amongst these three directors in the next board meeting later this month or early next when Eveready announces its April-June quarterly earnings.

Mohit Burman had recently told ET that the promoters were happy with the outcome of the open offer and had no immediate plans to increase stake. “We will be hopefully appointing three members on the board from our side, including the chairman,” he said last weekend.

The country’s largest dry battery cell maker is also appointing FMCG industry veteran Sunil Alagh as an independent director for five years effective July 12, it said in the filings.

The Burmans currently owns 38.3% in Eveready after a recent open offer and earlier open market purchases, and is the largest shareholder. It has subsequently received promoter status in the company.

Anand Burman, 70, the erstwhile chairman of Dabur India Ltd, is also on the board of various Dabur Group companies and other entities like Aviva Life Insurance and Ester Industries Ltd. Mohit Burman, 54, is the vice chairman of Dabur India and driving force behind the Burman family's foray into several high-growth and sunrise sectors of financial services like life insurance, pensions, annuities and asset management, besides agriculture and retailing.

Lamba, 41, is the founder director of Guardian Advisors, a portfolio management company, and is a business associate of the Burmans. Alagh, 75, is the MD of SKA Advisors, a business advisory and consultancy service, and was also the MD of Britannia Industries from 1989 - 2003.

The Eveready scrip closed at a fall of 0.09% on Tuesday at Rs 319.7 when the benchmark Sensex closed at a decline of 0.94%.