Afcons Infrastructure Limited has informed the Exchange regarding Cessation of Mr Shapoorji Pallonji Mistry as Non-Executive Non-Independent Director and Chairman of the Company w.e.f. the conclusion of the Board meeting held on August 28, 2025.
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Mr. Shapoorji Pallonji Mistry has resigned as Non-Executive Non-Independent Director and Chairman of Afcons Infrastructure with effect from August 28, 2025, after serving on the board for over 25 years, including 13 years as Chairman. He has been appointed as Chairman Emeritus, an honorary non-board position with no remuneration. Mr. Subramanian Krishnamurthy, who has been on the board since 2002 and currently serves as Executive Vice Chairman, has been elevated to Executive Chairman effective the same date. Mr. Pallon Shapoorji Mistry (age 33), son of the outgoing Chairman and a member of the promoter group, has been appointed as an Additional Director (Non-Executive, Non-Independent) effective August 29, 2025, subject to shareholder approval. Additionally, three senior management personnel — Mr. Anantakumar Rayaprolu, Mr. Manivannan Venkataraman, and Ms. Bhakti Prasad — have received updated designations as Director & COO, Director & CTO, and Director & CHRO respectively, reflecting their operational roles (they remain non-board SMPs).
The transition signals continuity of professional management, with the long-tenured Subramanian Krishnamurthy taking over executive leadership. For shareholders, the appointment of Pallon Mistry deepens promoter family involvement at the board level, while the outgoing Chairman retains influence through the Chairman Emeritus role, suggesting a planned and orderly succession.