Please find enclosed the disclosure related to appointment of Mr. Amritanshu Khaitan as Chairman of the Board of the Company w.e.f 21st April, 2026 immediately succeeding the date of completion ....
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Mr. Manmohan Singh, Chairman and Independent Director, will complete his second and final term at the close of business on 20th April 2026, consequently relinquishing his roles as Chairman, Independent Director, and Audit Committee member. The Board expressed appreciation for his long tenure and contributions. Mr. Amritanshu Khaitan, a Promoter and currently Non-Executive Non-Independent Director, has been appointed as Chairman effective 21st April 2026. The Audit Committee has also been reconstituted, with Mr. Mahesh Shah now chairing it as the sole Independent Director in that role. The appointment was recommended by the Nomination and Remuneration Committee.
The transition is a planned leadership succession following an independent director's tenure completion. Mr. Amritanshu Khaitan's elevation from Promoter Non-Executive Director to Chairman consolidates promoter influence over the board, which may be viewed positively by some investors but raises governance considerations around independence.