UltraTech MD to step down in December

Krishna Kishore Maheshwari will be appointed as UltraTech's first non-executive vice chairman as he retires from his managing director role on 31 December this year. Kailash Chandra Jhanwar, currently deputy managing director and chief manufacturing officer, will succeed Mr Maheshwari as MD after this date.

Before serving three years as MD at UltraTech, Mr Maheshwari was the managing director at Grasim. He is also a director for Aditya Birla Management Corp, a corporate body which provides strategic direction and vision to group firms in various functional areas.

Meanwhile, Mr Jhanwar has been with the group for 38 years and held various roles in finance, operations and general management across its cement and chemical businesses.