The Diageo-controlled United Spirits USL) has announced the appointment of MK Sharma as its new chairman, a day after the embattled liquor baron Vijay Mallya resigned from the post. Mallya’s exit from the board of United Spirits ended a long-drawn tussle between him and the majority owner, UK’s Diageo, following allegations of irregularities on loans given to UB Group companies.

USL is now controlled by the world’s largest spirits maker Diageo, which had acquired an additional 26 per cent stake in USL for Rs 11,448.91 crore in July to take its total share in the Indian firm to 54.78 per cent.

Also Read – Vijay Mallya Quits

United Spirits

• United Spirits Limited, abbreviated to USL, is an Indian alcoholic beverages company, and the world’s second-largest spirits company by volume.
• It is a subsidiary of the Diageo, and headquartered at UB Tower in Bangalore, Karnataka.
• USL exports its products to over 37 countries.

Diageo

• Diageo is a British multinational alcoholic beverages company headquartered in London, England.
• It is the world’s largest producer of spirits and a major producer of beer and wine.
• Diageo’s brands include Smirnoff (the world’s best-selling vodka), Johnnie Walker (the world’s best-selling blendedScotch whisky), Baileys (the world’s best-selling liqueur), and Guinness (the world’s best-selling stout).
• Diageo has a market-share of 25% in the United States.