Gujarat State Petronet Limited has informed the Exchange regarding Cessation of Shri M. M. Srivastava, IAS (retd.) as Non- Executive Director of the company w.e.f. August 12, 2025.
Awaiting price reaction for this filing.
Gujarat State Petronet (GSPL) announced multiple board-level changes effective 12 August 2025. Non-Executive Director Shri M. M. Srivastava, IAS (retd.) ceased, and Shri M. K. Das, IAS (1990 batch, Additional Chief Secretary to the Gujarat CM) was appointed as Additional Director in his place, nominated by promoter Gujarat State Petroleum Corporation Ltd. The Board also appointed Shri Lokesh Agarwal as the new Chief Financial Officer (CFO) and Key Managerial Personnel, to join on or before 30 November 2025, with Shri Amit Shah, Senior Manager (F&A), stepping in as Interim CFO from 12 August. Agarwal will also serve as Chief Risk Officer once he joins. Additionally, SPANJ & Associates was appointed as Secretarial Auditor for five years (FY26–FY30), and M/s R. K. Patel as Cost Auditor for FY25-26.
These are routine governance transitions with no negative implications for shareholders. The director change is a planned promoter (state government) nominee swap, and the CFO transition is fully covered by an interim arrangement, so there should be no operational disruption.