Kumar Mangalam Birla will succeed his grandfather Basant Kumar Birla as chairman of Kesoram Industries.
The 88-year old BK Birla made the disclosure while addressing shareholders at the 90th Annual General Meeting of the company in Kolkata on Friday. However, he did not mention any time frame.
"After me, Kumar Mangalam will take charge of this company," the senior Birla said. "I had been asking Kumar to take charge of the companies (BK Birla group) in the next two to three years, but he is not listening to me."
"All decisions about the company will be taken by my father and Kumar Mangalam," his daughter Manjushree Khaitan told reporters.
"I will continue to remain in the board," she said when asked about her role in the company after his retirement.
Speculation is rife that BK Birla would soon hand over charges of various group companies to Kumar Mangalam, son of the late Aditya Vikram Birla.
Kesoram is engaged in manufacturing of tyres, tubes, flaps, cement, viscose filament, rayon yarn, etc.