Greaves Cotton Limited has informed the Exchange regarding Notice of Postal Ballot
GREAVESCOT · price
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Greaves Cotton Limited has sent out a Postal Ballot notice to shareholders seeking approval for the appointment of Mr. Parag Satpute (DIN: 06872200) as Managing Director & Group Chief Executive Officer for a 5-year term from 14th April 2025 to 13th April 2030. Mr. Satpute, aged 51, is an external hire with 29+ years of experience, most recently as President of Fleet Business at Bridgestone (Europe) and previously as India MD of Bridgestone, with an earlier long stint at Sandvik. His proposed compensation includes a fixed salary of ₹4.73 crore per annum, a variable bonus of up to ₹2.28 crore per annum, stock options not exceeding 15,84,786 units, plus perks like a leased car, insurance, and relocation support. E-voting runs from 5th June to 4th July 2025, with results expected by 7th July 2025. He was already appointed as Additional Director on 14th April 2025, subject to shareholder and Central Government approval.
Shareholders will vote on formalising a new top leadership hire from outside the company, with a competitive salary package including significant stock options. The outcome could affect investor sentiment depending on Mr. Satpute's strategic vision for the company, though the remuneration level signals a push to attract senior global talent.