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Allcargo Announces Addition of Mr. Hari.L.Mundra to its Board of Directors

July 4, 2012 - Mumbai, Maharashtra, India

Allcargo Logistics Ltd today announced the addition of Mr. Hari. L. Mundra as independent and non-executive director of the Company to its Board of Directors with effective from 30th May 2012. With this the total number of board members at Allcargo stands at 10.

Speaking on this new addition Mr. Shashi Kiran Shetty said “I am honoured to have Mr. Hari Mundra join our board of directors. A very seasoned professional, widely respected and deeply experienced business leader, he brings to our board and management team new insights and perspectives to our business. With his strong background in strategy and operations, finance and projects, M&As, he adds diversity to the outstanding talents and wide ranging experience that we already have on board. I am confident that all our stakeholders will benefit from his presence, and I look forward to working closely with the entire board and management team as we pursue the exciting opportunities in front of us.”

Mr. Hari L. Mundra has an Honours Degree in B.A. (Economics) from Bombay University and a Post-Graduate Management Diploma from the Indian Institute of Management, Ahmedabad (1971). Mr. Mundra worked with Hindustan Lever Ltd. for about 24 years in two countries viz. India and Indonesia and three businesses (Personal products, detergents and Exports) in various positions both in Financial and General Management areas. In 1990, Mr. Mundra was appointed to the Managing Committee of Hindustan Lever as the youngest Vice President (Commercial). Later, he took charge of Lever’s Exports Division as Vice President/Executive Director as part of the Lever Board/Managing Committee.

After his long career in Hindustan Lever, in 1995, Mr. Mundra joined the RPG Group as Member of the Group Management Board in the dual capacity of the Group Chief Financial Officer as well as President and Chief Executive of Carbon Black business. In January 2002, Mr. Mundra joined Wockhardt Group as Executive Vice Chairman of Wockhardt Ltd taking charge of its domestic pharma business. In Sept 2003, Mr. Mundra joined the Essar Group as Deputy Managing Director and Director – Finance of Essar Oil Ltd and was responsible for the Company’s resurrection and financial revival.

After leading the turn-around of Essar Oil, Mr Mundra decided to serve the social cause and joined, in Jan 2008, the National Managing Committee of Indian Cancer Society, a non-profit NGO, as its Joint Managing Trustee and Honorary Treasurer and has brought about its turn-around while helping in its crusade against cancer for the under-privileged.

As from January 2009, he is also a Visiting Professor at IIM, Ahmedabad in the Finance faculty for the MBA students. Since May 2009, he has also been acting as the Global Financial Advisor to the Chairman in the Wockhardt Group, contributing to its dramatic revival and growth.

Mr. Mundra is the Chairman of Future Focus Infotech Pvt. Ltd. and serves as Independent Director and Chairman of Audit Committee on the Boards of Ceat Ltd and Tata AutoComp Systems Ltd.

With Mr. Hari L. Mundra’s addition the Allcargo Board of Directors is a strong team of people with diverse backgrounds and includes Mr. Shashi Kiran Shetty, Mrs. Arathi Shetty, Mr. Adarsh Hegde, Mr. Umesh Shetty, Mr. Kaiwan Kalyaniwalla, Mr. Keki Elavia, Mr. Satish Gupta, Mr.Akhilesh Gupta and Mr. Mohinder Pal Bansal.

About Allcargo Logistics Limited

Allcargo Logistics Ltd., part of the Avashya Group, is a leading multinational company providing integrated logistics solutions. The company offers specialized logistics services across Multimodal Transport Operations, Container Freight Station Operations and Project & Engineering Solutions. Ingenious way of approaching the business, client centric logistics solutions, benchmarked quality standards, standardized processes and operation excellence across all the services and facilities, have enabled Allcargo Logistics Ltd. to emerge as the market leader in all these segments.

The company currently operates out of 142 own offices in 62 countries and gets supported by an even larger network of franchisee offices across the world. Allcargo Logistics Ltd. is today one of India's largest publicly owned logistics companies, listed on the Bombay Stock Exchange and The National Stock Exchange of India. With a consolidated turnover of Rs. 4325 crore, profit after tax of Rs. 284 crores as of 31st March 2012 Allcargo Logistics Ltd. has demonstrated superior performance and significant growth prospects in the past years.

Source: Business Wire India


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