CREDITACCESS GRAMEEN LIMITED has informed the Exchange regarding Board meeting held on Jun 18, 2025.
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The board met on June 18, 2025 to formalize a planned leadership change at the top. Mr. Udaya Kumar Hebbar's term as Managing Director will end on June 25, 2025, after which he will continue on the board as a Non-Executive Director. Mr. Ganesh Narayanan, whose appointment as MD & CEO was announced earlier on May 16, 2025 (subject to RBI and shareholder approval), has been designated as 'CEO & MD (Designate)' from June 26, 2025 until RBI clearance is received. The board also reconstituted the Stakeholders Relationship Committee, adding Non-Executive Director Mr. Massimo Vita in place of Mr. Hebbar effective June 26, 2025.
This is an orderly, pre-announced leadership transition rather than a sudden change, which should reassure investors. The interim 'Designate' tag keeps operations uninterrupted while RBI approval is awaited, and the new CEO's formal appointment will require shareholder approval at a future date.