Century Extrusions Limited has informed the Exchange regarding Outcome of Board Meeting held on Jun 03, 2025.
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Century Extrusions announced key leadership changes at its June 3, 2025 board meeting. Mr. Vikram Jhunjhunwala resigned as Chairman and Managing Director effective June 2, 2025, as part of succession planning. In his place, Shri Shivanshu Jhunjhunwala (DIN: 05252910) was appointed first as Additional Director/Executive Director, and then elevated to Chairman and Managing Director for a 3-year term ending June 2, 2028, subject to shareholder approval. The new CMD, aged 32, holds a B.Tech in Mechanical Engineering and a Master's in Engineering Management from Duke University, and brings prior experience from Sapa Extrusions, USA. He also holds 31,92,833 equity shares in the company. All four board committees (Audit, Nomination & Remuneration, Stakeholders Relationship, and CSR) have been reconstituted, and the 37th AGM is set for August 8, 2025.
This is a clear promoter-family succession from father to son at the top of the company. For shareholders, it signals continuity in promoter control but brings a new, younger leader into the CMD role. The change is procedural and not disruptive, and the new CMD's industry experience may be viewed positively, though shareholder approval for his appointment as CMD is still pending.