MMTC Limited has informed the Exchange regarding Cessation of HARDEEP as Chairman & Managing Director of the company w.e.f. April 26, 2025.
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MMTC Limited has informed the stock exchanges that Shri Hardeep Singh's term as Chairman & Managing Director (held as additional charge) will expire on April 26, 2025, leading to his cessation from the board. He was serving as CMD of both MMTC Ltd and PEC Ltd in additional charge capacity, as an Additional Director General of Foreign Trade, on a one-year extension basis. The Ministry of Commerce & Industry's office order regarding the continuation of his additional charge has been enclosed. No successor has been named in this filing, and MMTC will need a new CMD appointment going forward.
The exit of the CMD could create short-term leadership uncertainty for MMTC, a public sector undertaking. Shareholders should watch for a government appointment of a new full-time CMD, as prolonged vacancy at the top can delay strategic decisions in a PSU.