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Tata Global Beverage CEO quits

Tata Global Beverage CEO quits
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First Published: Tue, May 24 2011. 10 24 PM IST
Updated: Tue, May 24 2011. 10 24 PM IST
Mumbai: Peter Unsworth, chief executive officer, Tata Global Beverages has resigned, the company announced on Tuesday at a press briefing to discuss its earnings for fiscal 2011.
Unsworth, the top executive at the world’s second largest tea company will be relieved from duties on 30 June. As an interim measure, Percy Siganporia, managing director will take over the responsibilities of CEO, Tata Global Beverages from Peter, TGB said in a statement.
Unsworth is the second high profile exit from the company in the last 12 months following Sangeeta Talwar, executive director and one of the senior most representatives in India who left the company in July last year.
The resignations come even as the company is in the process of restructuring its operations. In May last year, Tata Tea Ltd had changed its name to TGB and subsequently announced restructuring of the company at various levels to form a consolidated single entity as it planned to become a global beverage company.
Unsworth was the chief operating officer at Tetley Group, a company acquired by TGB in 2001. TGB had then paid 271 million pounds sterling for the acquisition of Tetley which was thrice its side. Following the acquisition, Unsworth stayed on with the company as the chief executive officer for Tetley in UK. Under the new structure formed last year, Unsworth became the chief executive of TGB and overlooked its global operations.
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First Published: Tue, May 24 2011. 10 24 PM IST