Postal Ballot Notice dated March 27, 2025
GOODYEAR · price
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Awaiting price reaction for this filing.
Goodyear India has sent a Postal Ballot Notice dated March 27, 2025 seeking shareholder approval to appoint Mr. Sandeep Garg (DIN: 10360979) as Whole Time Director for a 5-year term effective April 07, 2025. The explanatory statement also notes he has been appointed as Chief Financial Officer of the company. He is a Chartered Accountant with about 26 years of experience and was previously CFO at Wavin Industries, Exicom Power Solutions, and Musahi Auto Parts. His proposed monthly salary is up to INR 5,17,479 with a special allowance of INR 2,52,164, a performance bonus of up to INR 64.8 lakh, and a one-time sign-on bonus of about INR 34.46 lakh. Remote e-voting runs from May 09, 2025 to June 07, 2025, with the cut-off date set as May 02, 2025.
This is a routine governance action to regularise the appointment of a new WTD/CFO via shareholder vote. It is unlikely to have a material impact on the stock price, though investors may note the new finance leadership joining the board.