On July 2, foods major Britannia approved the appointment of Urjit Patel, former governor of Reserve Bank of India and MD of chemical company Atul Sunil Siddharth Lalbhai, as additional non-independent executive directors.
This is for a term of five consecutive years, starting from July 2, 2024 till July 1, 2029, stated media reports.
Patel was the 24th governor of RBI where his tenure lasted from 2016-2018. He was also the deputy governor at RBI and looked after economic research, monetary policy, and the operations of financial markets.
At present, Patel holds the position of chairman at National Institute of Public Finance and Policy.
Lalbhai began his career at Imperial Chemical Industries, and he holds the position of an independent director at Navin Fluorine International, Pfizer, Bombay Dyeing and Manufacturing Company, and BAIF Institute for Sustainable Livelihoods & Development MP.