Olectra Greentech Limited has informed the Exchange regarding Appointment of Mr P V Krishna Reddy as Chairman of the company w.e.f. July 05, 2025.
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Olectra Greentech has undergone a major leadership reshuffle effective July 4-5, 2025. Mr. K V Pradeep resigned from his roles as Chairman, Managing Director, and Director due to personal reasons, with his exit effective July 4, 2025. Mr. P V Krishna Reddy, who is the Managing Director of Megha Engineering & Infrastructures Limited (MEIL) — a key promoter-linked entity — has been appointed as Additional Director and will take over as Chairman of the Board from July 5, 2025. Existing Non-Executive Director Mr. P. Rajesh Reddy has been elevated to Whole Time Director. The company is actively searching for a new Managing Director/CEO to fill the vacancy left by Mr. Pradeep. Board committees have also been reconstituted accordingly.
The sudden exit of the MD/CEO combined with the entry of a senior MEIL (promoter group) figure as Chairman signals a stronger promoter influence on the board. Until a permanent CEO is appointed, the stock may see some uncertainty, but the experienced leadership from MEIL could bring strategic direction to investors' attention.