Orient Cement Limited has informed the Exchange about Change in Company Secretary/Compliance Officer
ORIENTCEM · price
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Orient Cement has undertaken a near-complete board restructuring after control of the company shifted from the Birla family promoters to Ambuja Cements (Adani Group) under the October 22, 2024 Share Purchase Agreement. All three Birla-era directors resigned — Chairman Chandrakant Birla, Amita Birla, and MD & CEO Desh Deepak Khetrapal — along with all four Independent Directors (Dasgupta, Ippagunta, Purandare, Maheshwari). CFO Prakash Chand Jain and Company Secretary Diksha Singh also stepped down. In their place, the board appointed Vaibhav Dixit (from ACC) as new CEO, Vinod Bahety (CEO of Ambuja Cements & ACC) as Chairman, and Rakesh Tiwary (Adani Group) as Non-Executive Director, plus three new Independent Directors and replacements for the CFO and CS roles.
This is an expected and largely mechanical leadership transition tied to the closing of the Adani acquisition of Orient Cement. The new board brings in senior executives from the Adani cement business, which may lead to synergies, operational integration with ACC and Ambuja, and a sharper strategic focus, but also reduces independent brand identity in the near term.