S Wallace top brass join Mallya camp

MUMBAI: In Politics, there are neither permanent friends nor foes. Same holds true in the liquor industry. In a move that has raised eyeballs, top executives in Shaw Wallace, who were fighting the fierce battle for late chairman Manu Chhbaria, have now shifted their loyalties to the enemy camp.
Niranjan Thakur, brother of Vidya Chhabria and former chairperson of Shaw Wallace & Company, has moved to one-time rival Vijay Mallya, after the later had taken over SWC recently.So do Prakash N Nanani, one-time confidante and chief operating officer of Manu's Jumbo India. Thakur has been closely associated with Manu in the latter's liquor business for more than a decade. He was the executive director in Shaw Wallace & Co without owning a single share despite being a family member.
With the Chhabria family selling out Shaw Wallace and planning to reduce their interest in other business, Thakur had limited options on hand, sources said. When contacted, Thakur confirmed his move to UB group and said a clarity on his role would be known in a few days. Nanani would also be briefed about his area after Mallya returns from abroad.
Executives shifting loyalties is nothing new in the liquor industry. However with Mallya becoming the numero uno player, there is an end to cross overs. It is reliably learnt AKMA Shamsuddin, president of Shaw Wallace Distilleries, would continue under his old boss. Shamsuddin re-joined the Chhabria group in early 2000 after a short stint with the UB group.
Prior to his shift to UB group, he served the Chhabria's for three decades and was once considered close to the late Manu.