GMM Pfaudler Limited has informed the Exchange about the Addendum to the Notice of 62nd Annual General Meeting of the Company
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GMM Pfaudler has issued an addendum to the notice of its 62nd Annual General Meeting (scheduled for August 1, 2025, via video conferencing) to revise the remuneration terms for Mr. Gregory Gelhaus, a related party serving as Chief Transformation Officer of the GMM Pfaudler Group. While the base salary remains CHF 649,000 per annum, the short-term incentive has been capped at a maximum of 50% of base salary, and a new long-term incentive of up to CHF 500,000 has been introduced, payable in August 2027 subject to achieving KPIs tied to revenue, EBITDA, ROCE, and strategic initiatives for FY26 and FY27. Mr. Gelhaus will now be designated as a Senior Management Personnel (SMP) under SEBI Listing Regulations, with his remuneration reviewed and approved annually by the Nomination and Remuneration Committee. The addendum does not change the date, time, or mode of the AGM, and all other items in the original AGM notice remain unchanged.
This amendment strengthens governance by putting a cap and performance-linked structure (KPIs for FY26-27) on the executive's pay, which is generally viewed positively by shareholders as it ties compensation to measurable business outcomes. The AGM outcome on Item No. 7 will be a watchpoint, but the changes themselves are transparency-enhancing rather than value-destructive.