In a sudden development, the Gujarat Co-operative Milk Marketing Federation Ltd (GCMMF), which markets its products under the brand name 'Amul', on Monday ousted its long-serving Managing Director R S Sodhi but did not give any reason.
However, Sodhi said he had requested the federation's board to relieve him of his duties.
The federation's chief operating officer Jayenbhai Mehta has been given the interim charge of the managing director (MD).
Sodhi, who has been associated with the federation for more than four decades, put in his papers soon after the board asked him to relinquish the charge.
While the reason for the sudden move could not be immediately ascertained, Sodhi said he was on an extension and had requested the board to relieve him from the responsibility of the MD.
At the federation's board meeting held at the premises of AmulFed dairy in Gandhinagar on Monday, it was decided to end the services of Sodhi.
"As per the resolution no.2 of the board meeting, it was proposed to end your service as the federation's MD with immediate effect.
"Thus, you are hereby directed to relinquish your charge as MD with immediate effect and hand it over to federation COO, Jayenbhai Mehta," according to a communication sent by the board to Sodhi.
The communication was signed by the federation's chairman Shamalbhai Patel and vice chairman Valamjibhai Humbal.
Sodhi said he is "very happy" with the federation's decision and refuted some reports which suggested that he has been "sacked" and his office has been "sealed".
"My term as MD ended two years back and I was on extension. I had requested the board to relieve me from this responsibility.
"The board had told me to wait for some time saying they will relieve me once they find a suitable replacement," Sodhi told reporters.
"When I again requested the GCMMF board to relieve me, they finally accepted my request and relieved me today.
"It was my own decision to step down and I am very happy today" he said.
When Sodhi took over as MD, the federation's turnover was only Rs 9,774 crore in the 2010-11 fiscal.
It touched Rs 61,000 crore in 2021-22 financial year.
Sodhi, who has been working with the federation for more than 40 years, served as the MD for 12 years.
He was first appointed as MD in 2010 for five years.
In 2015, he was re-appointed to the same post till 2020.
Since then, he has been on an extension.
Sodhi did his MBA from the Institute of Rural Management Anand (IRMA) and started his career as a manager with the federation.