FSN E Commerce Ventures Limited has informed the Exchange regarding Notice of Postal Ballot for seeking Members' approval for re-appointment of Ms. Falguni Nayar as the Executive Chairperson, Managing Director and Chief Executive Officer (EC, MD & CEO) of the Company for a term of 5 years and payment of remuneration.
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FSN E-Commerce Ventures (Nykaa's parent company) has issued a Postal Ballot notice to seek shareholder approval for the re-appointment of Ms. Falguni Nayar as the Executive Chairperson, Managing Director and Chief Executive Officer of the company. The re-appointment is for a fresh term of 5 years. The ballot also seeks members' approval for the payment of her remuneration. As the founder and existing promoter, her continuation at the helm is being put to a member vote rather than being approved at a physical meeting.
This is a routine re-appointment seeking shareholder consent and signals continuity in leadership. The vote outcome is unlikely to surprise markets given Nayar's majority promoter holding, but shareholders should review the proposed remuneration details in the postal ballot notice.