Aditya Birla Fashion and Retail Limited (ABFRL), formerly Pantaloons Fashion & Retail Limited, has appointed Ashish Dikshit as the Managing Director of the company w.e.f February 1, 2018, in place of Pranab Barua. The appointment of Dikshit, who is presently serving as business head of the Madura Fashion and Lifestyle division, is for a period of five years.
Pranab Barua, who will step down as Managing Director, has been appointed as an additional Director, “In view of his vast knowledge and experience and the immense value that he brings to the Board,” ABFRL said in its regulatory filing with the stock exchanges. Appointments of both Dikshit and Barua are subject to approval of the shareholders and such other approvals, as may be necessary, the company said.
Dikshit, 48, is an Electronics & Electrical Engineer from IIT-Chennai and holds a master’s degree in Business Administration from IIM-Bangalore. He has worked in diverse roles across industries and functions over the last 24 years and has been with the Madura Fashion and Lifestyle division of the company for over 18 years, where he headed its various functions. Earlier, he also served as the Principal Executive Assistant to the Chairman of Aditya Birla Group, where he built strong knowledge across multiple industry sectors. Presently, he is serving on the Board of Hakura Apparel Private Limited.
Barua, 65, has over 45 years of experience across multiple industries. Presently, he is also the Managing Director of Aditya Birla Retail Limited, a fellow Aditya Birla Group company. Prior to joining Aditya Birla Group, he has worked with a private equity group, Reckitt Benckiser, Hindustan Unilever Limited, and Brooke Bond India Limited. In recognition of his contribution, he was honoured with the ‘Leader of Leaders Award’ in 2011, by the Chairman of Aditya Birla Group.
In addition to these two appointments, ABFRL has also announced appointment of Jagdish Bajaj as the Chief Financial Officer of the company w.e.f April 1, 2018. A qualified chartered accountant, Bajaj has over two decades of rich experience with the Aditya Birla Group. He has held multiple senior management positions and has played pivotal role in driving the finance function in Aditya Birla Group’s multiple businesses like ABNL, Grasim, etc. Earlier, he was the Chief Financial Officer of the Swiss Singapore Overseas Enterprises Pte Ltd.