Announcement under Regulation 30 (LODR) - Appointment of CEO
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At its June 23, 2025 meeting, the board approved multiple leadership changes effective June 24, 2025. Ms. Shruthi Rajiv Nair resigned as CEO (she will move to lead a subsidiary; she holds 2,073 shares). Mr. Sumit Sunil Sadh, an existing Executive Director - Whole Time with 40+ years of finance experience, was appointed as the new CEO while continuing his board role. Promoter Mr. Abdul Khalik Chataiwala was re-appointed as Managing Director for one year. Mr. Suresh Babu Sankara's second term as Independent Director ended, and Ms. Vijayshri Krishnan was appointed as a new Independent Director for a five-year term. All six board committees were reconstituted accordingly.
This is a continuity-focused reshuffle with no surprise exits. The CEO transition is voluntary (moving to a group subsidiary) and replaced internally by a long-serving Executive Director, which should be reassuring for shareholders. Promoter-led management remains unchanged, and board committee composition stays balanced with independent directors.