3M India Limited has informed the Exchange regarding Notice of Postal Ballot
3MINDIA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
3M India Limited has issued a Postal Ballot Notice to shareholders for three resolutions to be voted on through remote e-voting between April 23, 2025 and May 22, 2025. The first two resolutions seek shareholder approval to appoint Mr. Jayanand Vasudeorao Kaginalkar as a Director and as Whole-Time Director for a 2-year term (April 1, 2025 to March 31, 2027), with a salary upper limit of ₹30 Lakhs per month plus standard perquisites. Mr. Jayanand is a 3M veteran since 2007, most recently serving as Business Supply Chain Director for 3M's Safety and Industrial Business Group in Asia. His appointment as Whole-Time Director is subject to Central Government approval as he has not been continuously resident in India for the prior 12 months. The third resolution seeks approval to appoint Ms. Jung Hyun Kim, currently 3M Asia's HR Director, as a Non-Executive and Non-Independent Director. Results will be announced on or before May 24, 2025.
Routine governance action — shareholders will vote to formalize the appointments of a new Executive Director and a Non-Executive Director. The resolutions are ordinary resolutions and, given the parent company's typically strong influence over 3M India's board composition, passage is highly likely with minimal expected impact on the stock price.