New Delhi: The board of Directors of Godfrey Phillips India has announced the reappointment of Bina Modi as the Managing Director at the 87th Annual General Meeting of the company.
The Delhi High Court ruled in favor of Bina Modi and granted her the right to vote on behalf of the KK Modi Family Trust, dismissing the plea of her son and grandson who had sought to prevent Bina from exercising voting rights. Bina’s son, Samir Modi was ousted from the post of Executive Director after the shareholders voted in favor of his removal. In his place, Bina’s daughter, Charu Modi has been appointed as the Executive Director of the company.
Godfrey Phillips India is a flagship company of Modi Enterprises and one of the major players in the Fast-moving consumer goods (FMCG) segment. The company has expanded from tobacco manufacturing to include tea and confectionery. It is primarily operational in northern and western parts of India but has recently widened its reach to West Bengal and the southern parts of the country as well. The firm was originally established in 1844 in London and was the first British Company to mass-produce cigarettes.
