Please find attached lettter dated 12th May 2025
Awaiting price reaction for this filing.
UPL Limited's board, at its May 12, 2025 meeting, approved a change in CFO: Mr. Anand Vora will step down as CFO on May 31, 2025 on reaching superannuation after 12 years with UPL, and will continue as Finance Director in an advisory role. Mr. Bikash Prasad, formerly President and CFO at Olam Agri with 25+ years of experience, has been appointed as the new Group CFO effective June 1, 2025. The board also appointed Mr. Sujoy Mazumdar (ex-Schlumberger legal leader) as Group General Counsel effective June 1, 2025. Separately, UPL filed the Monitoring Agency Report for Q4 FY25 confirming no deviation in the use of Rights Issue proceeds, published extracts of its audited consolidated financial results for Q4/FY25 in newspapers, and shared the transcript of its Capital Markets Day 2025 on its website.
This is a planned, orderly leadership transition at the senior finance and legal level, with the outgoing CFO retained in an advisory capacity, which should reassure shareholders. The new CFO brings strong global finance and restructuring experience from Olam Agri, while the incoming General Counsel adds deep M&A and governance expertise, both positive for UPL's ongoing strategic execution.