Yesterday the Competition Commission of India (CCI) finally made public the news that back in 2018 it found five tyre makers and India’s tyre industry association guilty of contravening the provisions of India’s Competition Act by indulging in cartel activities in 2011 and 2012. All protagonists have been fined for their actions.
Herve Frederic Richert will step down as chief executive officer of Birla Tyres Limited as of tomorrow. Richert, whose industry experience includes two decades at Michelin and a seven-year stint at Giti Tire, tendered his resignation with the Indian tyre maker on 7 July.
On 4 December Kesoram Industries Ltd (part of the BK Birla Group of Companies) announced its intention to demerge its Birla Tyres Ltd business. As a result, Birla Tyres will become a listed company with its own shareholders. The demerger is scheduled for 1 January 2019.
