Tata Coffee board reappoints MD, CEO and CFO; Stock soars 2%

23 Mar 2022 , 11:12 AM

Tata Coffee Ltd has informed that the Board of Directors has approved the Re-appointment of Chacko Purackal Thomas as Managing Director and Chief Executive Officer of the Company for a term of three years i.e., from April 1, 2022 to March 31, 2025

Further, the board has also approved re-appointment of K. Venkataramanan as Executive Director – Finance and Chief Financial Officer of the Company for a term of one year i.e., from October 25, 2022 to October 24, 2023 and appointment of Dr. P. G. Chengappa as an Independent Director of the Company for a second term of office, for the period from May 18, 2022 to May 17, 2025.

Chacko Purackal Thomas is the Managing Director and Chief Executive Officer of the Company since April 1, 2019. He has been associated with Tata Coffee since August 4, 2015. He has a Bachelor of Science degree with specialisation in Computer Science from the University of Jodhpur.

He has completed Advanced Management Programme from INSEAD Fontainebleau. He comes with over 30 years of experience in the plantation industry across general management, business strategy sales, and marketing functions.

K. Venkataramanan is the Executive Director – Finance and Chief Financial Officer of Tata Coffee Limited since October 25, 2014. He is a Chartered Accountant and a Cost Accountant with over three decades of experience in financial and management accounting, commercial finance, taxation, treasury and corporate restructuring.

He was the Vice President (Finance) and Chief Financial Officer of Tata Consumer Products Limited. He oversees risk management, governance and IT functions.

P.G. Chengappa is an Independent Director of Tata Coffee Limited since May 18, 2017. He is one of the leading Agricultural Economists of the country. Dr. Chengappa served as the Vice Chancellor, University of Agricultural Sciences, Bangalore. He was a visiting professor at the Universities of Reading, Wales, Iowa State University and Purdue.

He was appointed as the National Professor by the Indian Council of Agricultural Research, New Delhi. He is a Policy Economist specialized in agri-business and trade.

At around 11:12 AM, Tata Coffee was trading at Rs204 apiece up by Rs3.85 or 1.92% on the BSE.