Persistent Systems Limited has informed the Exchange regarding Outcome of Board Meeting held on Jun 06, 2025.
PERSISTENT · price
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The board approved four key items on June 6, 2025. First, it appointed Ernst & Young LLP as the new internal auditor for a three-year term covering FY 2025-26 to FY 2027-28, following the exit of Ms. Anuja Ramdasi who stepped down as Head of Internal Audit due to an internal reorganization (she will continue as Ombudsperson of Ethical matters). Second, founder and promoter Dr. Anand Deshpande has been recommended for re-appointment as Managing Director for another five-year term until the 40th AGM in 2030. Third, CEO Sandeep Kalra has been recommended for re-appointment as Executive Director for three years from October 1, 2025 to September 30, 2028. Both director re-appointments require shareholder approval at the upcoming 35th AGM. Finally, the board approved the Annual Report for FY 2024-25.
This is a routine governance update with continuity at the top — founder and CEO both retain their roles, and the switch to a Big-4 firm (EY) for internal audit should strengthen governance standards. Minimal direct stock price impact expected; investors should watch the 35th AGM for shareholder approval of the director re-appointments.