Dear Sir/ Madam, This is to inform you that the meeting of Board of Directors of the Company held on today Tuesday, July 15, 2025 at 11.00 a.m. and concluded at 11.30 a.m. at registered ....
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Mid East Portfolio Management Ltd held a board meeting on July 15, 2025, where it approved the appointment of three new directors subject to shareholder approval: Ms. Poonam Kishor Shah as Executive Director & CFO for 3 years, Ms. Rakhi Jayantilal Upadhyay as Additional Independent Director for 1 year, and Mr. Sandipbhai Pravinbhai Patel as Additional Independent Director for 3 years. The board also accepted the resignations of Mrs. Jyoti Kishor Shah (Promoter Director and CFO, citing age factor) and Mr. Sharad Kulkarni (Non-Executive Independent Director, citing age and health issues), both effective July 15, 2025. Notably, the incoming CFO Poonam Shah is the daughter of promoter directors Kishor A Shah and Jyoti K Shah, indicating a family succession at the top finance role. The new appointees bring experience in financial services, NPA management, and chartered accountancy respectively.
This is a smooth leadership transition at a small portfolio management firm, with the promoter's daughter taking over as CFO in a clear family succession, while independent oversight is being refreshed with two new independent directors. Shareholders should watch for any governance concerns given the continued promoter family control of key board and finance positions.