Olectra Greentech Limited has informed the Exchange regarding Board meeting held on July 04, 2025.
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The Board of Olectra Greentech, at its meeting on July 4, 2025, accepted the resignation of Mr. K V Pradeep from the position of Chairman & Managing Director and Director, effective close of business on July 4, 2025, citing personal reasons (resignation letter dated June 9, 2025). Mr. P V Krishna Reddy, the Managing Director of Megha Engineering & Infrastructures Limited (MEIL), was appointed as Additional Director (Non-Executive) effective July 4, 2025 and as Chairman of the Board effective July 5, 2025. Existing Non-Executive Director Mr. P. Rajesh Reddy was elevated to Whole Time Director effective July 5, 2025, subject to shareholder approval. The company is still searching for a new MD/CEO. Board committees were reconstituted with Mr. P. Rajesh Reddy added as a member across all four committees.
This is a significant leadership transition for Olectra Greentech. The exit of the long-serving MD/CMD and the appointment of MEIL's MD as Chairman signals the promoter group taking more direct control of the company. Short-term uncertainty is possible until a permanent MD/CEO is found, but the appointment of a senior MEIL leader as Chairman may be viewed positively given MEIL's strong execution track record.