MUMBAI: After completing the acquisition of Fame India Limited on 7 January, 2011, Inox Leisure has now taken management control of the company.
The Board of Directors of Fame has been re-constituted and the erstwhile promoter nominees Shyam Shroff and Shravan Shroff alogn with two independent directors Salim Govani and Susan Thomas have resigned, and will accordingly no longer be on the Board of Fame.
Pavan Jain has been appointed as chairman, whereas Deepak Asher shall continue as a director on the Fame Board as an Inox nominee.
Kishore Biyani and Amit Jatia shall also continue as independent directors.
Asher said, “We are delighted to have taken over control over the Board of Fame. We believe the revised Fame Board composition reflects eminent persons with entrepreneurship, expertise, experience and integrity, to provide Fame with stewardship and guidance, in the best interests of enhancing long term value creation for its stake-holders and upholding the highest standards of corporate governance.”