Olectra Greentech Limited has informed the Exchange regarding Cessation of Mr K V Pradeep as Chairman & Managing Director of the company w.e.f. July 04, 2025.
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Mr. K V Pradeep has resigned from the position of Chairman & Managing Director and Director of Olectra Greentech effective close of business hours on July 4, 2025, citing personal reasons. The company is now searching for a new MD/CEO to fill the vacancy. To cover the leadership gap, Mr. P V Krishna Reddy (Managing Director of Megha Engineering & Infrastructures Limited) has been appointed as Additional Director and Chairman of the Board from July 4-5, 2025. Additionally, Mr. P. Rajesh Reddy has been elevated from Non-Executive Director to Whole Time Director (subject to shareholder approval) for a one-year term starting July 5, 2025. All key managerial personnel positions and board committees (Audit, Stakeholders Relationship, CSR, Risk Management) have been reconstituted.
Leadership transition at the top — the Chairman & MD role is now vacant while a replacement is being searched, which could create short-term uncertainty for shareholders. However, the appointment of a senior MEIL group leader as Chairman signals continued promoter-level oversight and a likely smooth handover.