Change in Directorate
Awaiting price reaction for this filing.
ZF Commercial Vehicle Control Systems India (formerly WABCO India) announced three board changes on May 15, 2025. Mr. Mahesh Chhabria has been re-appointed as an Independent Director for a second 5-year term (May 16, 2025 to May 15, 2030), subject to shareholder approval via postal ballot. Mr. Philippe Colpron, a Non-Executive Non-Independent Director, will retire at the upcoming AGM due to expanded responsibilities as Executive VP – Aftermarket at the parent ZF Group. The Board has also recommended appointing Dr. Lars Orlik, currently the CFO of ZF Group's Commercial Vehicle Solutions division, as a Non-Executive Non-Independent Director effective August 21, 2025, pending shareholder approval at the AGM on August 20, 2025.
This is routine board reshuffling aligned with the parent ZF Group's global leadership realignment. No operational disruption is expected, and the changes are unlikely to materially affect the stock price. Shareholders will get to vote on the key appointments at the postal ballot and AGM.