Vikram Bakshi, the former managing director of McDonald’s, indicated that he will soon move to the Company Law Board seeking his reinstatement. Bakshi is likely to allege that the company treated him unfairly and in a discriminatory manner. Bakshi was the managing director of the company in India for over 17 years. When Bakshi’s term as managing director expired on July 17, the company’s four member Board rejected the proposal to re-nominate him as MD.
One of the major grounds of the battle is the reluctance of the company’s American counterpart to pay Bakshi the price he is asking for. McDonald’s in India is currently a joint venture between Connaught Plaza Restaurants and Hardcastle Restaurants.
Read the Economic Times news article here.