Jaiprakash Power Ventures Limited has informed the Exchange about Resignation of Director/KMP/SMP
JPPOWER · price
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Jaiprakash Power Ventures Limited has undergone a major leadership overhaul with five directors resigning and three new directors appointed. Key resignations include CEO and Managing Director Suren Jain, Whole-time Director Sunil Kumar Sharma, Executive Director Praveen Kumar Singh, and Independent Directors Dinesh Kumar Likhi and Suresh Chandra Saxena - all citing personal or professional commitments as reasons. Three new appointments have been made: Savan Jayendra Pal (Whole-time Director, formerly Chief Commercial Officer at Adani Power), Jayadeb Nanda (Non-Executive Director, former COO at Adani Power), and Naresh Telgu (Non-Executive Director, leads Adani Group's pumped storage and hydro projects). This indicates a complete change in board composition with Adani Group-linked executives taking over.
This represents a significant governance event as the CEO and multiple board members have resigned simultaneously. The appointment of three Adani Group executives suggests potential change in control or strategic direction, which could impact the company's future operations and shareholder interests.