Resignation of Mr. Faisal Khan as CEO and appointment of Mr. Khalid Khan as CEO of the Company as an additional responsibility along with Managing Director. Resignation of Afaque Khan ....
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Paradeep Parivahan Limited announced a leadership reshuffle effective 10th April 2025. Mr. Faisal Khan stepped down as CEO citing personal engagements, and existing Managing Director and founder Mr. Khalid Khan was appointed as CEO in addition to his MD role for a 5-year term ending 9th April 2030. Separately, Non-Executive Director Mr. Afaque Khan resigned due to age and family commitments, and Mrs. Bushra Khan — daughter of Mr. Khalid Khan — was appointed as Non-Executive Director for 5 years subject to shareholder approval. The reconstituted board still has 3 Independent Directors (Chandra Kanta Prusty, Prithvi Ranjan Parhi, and Ardhendu Shekhar Raut), keeping it compliant with listing rules. The CFO (Nasir Uddin Khan) and Company Secretary (Alka Bothra) remain unchanged.
Continuity is maintained since the founder and existing MD is taking over as CEO, so day-to-day operations are unlikely to be disrupted. However, the appointment of the MD/CEO's daughter as Non-Executive Director may raise governance concerns among retail investors about family influence on the board, even though minimum independent director requirements are still met.