Antarctica Limited has informed the Exchange regarding Cessation of Mrs Renu Kuthari as Executive Director of the company w.e.f. January 09, 2026.
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Mrs. Renu Kuthari (DIN: 00679971), aged 78, has resigned as Executive Director of Antarctica Limited effective January 9, 2026, citing her age and her intention to pursue social activities, which would prevent her from giving enough time to the company. She held 2,000 shares and also stepped down from the Nomination & Remuneration Committee and Stakeholders' Relationship Committee. On the same day, the board appointed Mr. Aryan Arvindbhai Prajapati (DIN: 11465461, born 2003, Gujarat University graduate) as Additional cum Managing Director, and Mr. Nitinbhai Babubhai Karan (DIN: 11466294, born 1999, Gujarat University graduate) as Additional Independent Director. Both appointments are subject to shareholder approval.
This is a key managerial personnel change with an executive director stepping down and being replaced by a notably young (22-year-old) new Managing Director with limited professional experience, which investors may view as a governance concern. Both new appointees are from Gujarat while the company is Kolkata-based, suggesting a possible shift in management control worth monitoring.