Olectra Greentech Limited has informed the Exchange regarding Appointment of Mr P Rajesh Reddy as Executive Director of the company w.e.f. July 05, 2025.
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Olectra Greentech has announced a major leadership reshuffle at its board meeting on July 4, 2025. Mr. K V Pradeep resigned as Chairman and Managing Director, citing personal reasons, effective close of business on July 4, 2025 (his resignation letter was originally dated June 9, 2025). Mr. P V Krishna Reddy, the Managing Director of Megha Engineering & Infrastructures Limited (MEIL), has been appointed as Additional Director (Non-Executive) and as Chairman of the Board w.e.f. July 4-5, 2025. Existing Non-Executive Director Mr. P. Rajesh Reddy has been elevated to Whole-Time Director for a one-year term, subject to shareholder approval. The company has stated it is still searching for a new Managing Director/CEO to fill the vacancy. All board committees have also been reconstituted.
The exit of the MD/CEO on personal grounds and the yet-to-be-filled top executive role may create short-term uncertainty for investors. However, the appointment of MEIL's MD as Chairman signals stronger promoter-group oversight, which could be viewed as positive for strategic continuity and execution of the company's electric bus and infrastructure plans.