MAM
WPP appoints Roberto Quarta as chairman-designate
MUMBAI: WPP plc has appointed Roberto Quarta to its board as a non-executive director and chairman-designate. He will join the board on 1 January 2015 and will offer himself for re-election at the company’s Annual General Meeting to be held in June 2015. Subject to his re-election, he will be appointed chairman to succeed Philip Lader, who joined the board as chairman in 2001.
Quarta is chairman of Smith & Nephew plc, a FTSE 100 global medical technology company, and chairman of IMI plc, a FTSE 250 engineering business. He is also a partner at the private equity firm Clayton, Dubilier & Rice and a non-executive director at Spie SA. Previously, he was chief executive and then chairman of BBA Group plc, Rexel SA chairman and BAE Systems plc, Equant NV, Foster Wheeler AG and PowerGen plc non-executive director.
In the Company’s last Annual Report issued in April 2014, Lader announced his plan to step down as chairman at the close of 2014. The WPP board has requested that he continue until such time as Quarta steps down as Chairman of IMI plc.
Lader said, “Roberto brings to WPP extensive, diverse experience in corporate governance and global commerce. This completes our refreshment of the board, which over the last three years has seen the appointment of 10 internationally recognized business leaders from four continents and the phased retirement of long-serving directors.”
CEO Sir Martin Sorrell commented, “Following an exhaustive search, the Board has chosen Roberto to be its next Chairman, as his experience and background complement and will help develop WPP’s strategy in new markets, in new media, in data investment management and the application of technology and, last but not least, horizontality.”
Quarta commented, “It is a great honour to join the board of WPP, a global leader in its field and an outstanding success story in British business. I look forward to working with the Board to help the company as it continues to build leadership positions in the fast changing media markets.”
No disclosure obligations arise under paragraphs (1) to (6) of LR 9.6.13 R of the UK Listing Authority’s Listing Rules in respect of this appointment.
Full details of Quarta’s remuneration arrangements will be given in the Directors’ Remuneration Report 2014.
The transition in the chairman’s role will occur, if Quarta has resigned from the IMI board as anticipated, immediately at the close of WPP’s June AGM or thereafter upon such resignation.
Quarta will be appointed to serve as a member of the Nomination and Governance Committee and the Compensation Committee.
In the 14-year period Lader has served as chairman, WPP’s billings have grown from ?14 billion to ?46.2 billion, PBIT from ?378 million to ?1.583 billion, dividend per share from 3.75p to 34.21p, the dividend pay-out ratio from 13 per cent to 42 per cent. The shares have risen from 829p to 1313p, the market capitalisation from ?9.1 billion to ?17.3 billion and the number of employees (including associates) from 65,000 to 177,000.
MAM
Wagh Bakri Tea Group appoints Tushar Tripathi as new CEO
Long-serving COO steps up to lead the tea major’s next phase of growth.
MUMBAI: Wagh Bakri Tea Group has found the perfect blend for its future leadership promoting from within. The company has announced the appointment of Tushar Tripathi as its new Chief Executive Officer (CEO). Tripathi, who previously served as Chief Operating Officer, brings over 17 years of deep experience within the organisation and will now steer its overall business strategy, operational efficiency, and long-term value creation.
In his earlier role, Tripathi led Plant, Operations, and Projects, playing a key part in enhancing operational excellence. His notable contributions include introducing the first Automated Storage & Retrieval System (ASRS) in India’s tea industry, implementing global quality and food safety standards, establishing a NABL-accredited quality lab, and expanding the company’s manufacturing and distribution networks.
Speaking on his appointment, Tushar Tripathi said, “I am deeply honoured to take on this responsibility at Wagh Bakri. It has been a privilege to contribute to the Group’s journey, and I look forward to working with our teams to strengthen innovation, enhance efficiency, and create sustainable value for all stakeholders.”
Wagh Bakri Tea Group executive director Paras Desai added, “Mr Tushar Tripathi has been an integral part of our leadership team for many years. His deep operational insight, commitment, and balanced leadership approach make him the ideal choice to guide Wagh Bakri into its next phase of growth.”
Tripathi holds a BE in Mechanical Engineering and has completed management development programmes in project management and logistics from leading Indian Institutes of Management (IIMs).
With this internal elevation, Wagh Bakri Tea Group is signalling continuity and confidence in its home-grown talent as it looks to accelerate innovation and sustainable growth in the competitive tea industry.
In the world of tea, where the right infusion makes all the difference, Wagh Bakri has chosen a leader who already knows every leaf and layer of the organisation. The future, it seems, is brewing smoothly under Tripathi’s watch.
