Disclosure under Regulation 30 of SEBI LODR Regulations, 2015
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Deepak Nitrite has announced the re-appointment and elevation of Shri Mautik Mehta (DIN: 05227290) as Deputy Managing Director for a period of 5 years, effective 9th May 2026. Concurrently, he ceased to be Executive Director & Chief Executive Officer upon completion of his previous tenure on 8th May 2026. Mehta is a graduate of the University of Liverpool, holds a Master's in Industrial and Organisational Psychology from Columbia University, and completed an Executive MBA at Harvard Business School. He took charge during the peak of the COVID-19 pandemic and has been credited with driving ESG initiatives and the company's 'Responsible Chemistry' strategy. The company states he is not debarred from holding office by any SEBI order.
This reflects a planned leadership transition within the promoter family, with Mautik Mehta moving to a more senior board role. The change is internal and structured, so no major disruption is expected, though the shift from CEO to Deputy Managing Director may raise questions about who now holds the CEO function.