ICICI Prudential Life Insurance Company Limited has informed the Exchange regarding Change in Director(s) of the company.
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Mr. Dilip Karnik (DIN: 06419513) has retired as a non-executive Independent Director of ICICI Prudential Life Insurance Company, effective close of business hours on May 9, 2025. He was originally appointed in 2016 and re-appointed in 2021 for a second term ending June 28, 2026. The retirement is due to the IRDAI Master Circular on Corporate Governance for Insurers, 2024, which caps the maximum age for non-executive directors at 75 years. The Board has recorded its appreciation for his contributions during his tenure. The company has disclosed the required details under SEBI Listing Regulations.
This is a routine, regulation-driven retirement of an independent director with no negative implications for the company or shareholders. It is unlikely to have any material impact on the stock price or business operations.