Announcement under Regulation 30 of SEBI (LODR) Regulations, 2015 with respect to the change in Key Managerial Personnel.
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Mr. Raj Narayan, Chief Executive Officer of Popular Vehicles and Services Ltd, has tendered his resignation effective 21st August 2026 (after a 3-month notice period). He cited 'pursuing a new career opportunity in a different industry' as the reason. Narayan served as CEO for approximately 44 months and in his resignation letter highlighted the successful IPO journey as a memorable achievement. The company has informed stock exchanges under SEBI LODR Regulation 30. A successor has not yet been announced.
The resignation of a long-serving CEO creates leadership uncertainty. With no successor named yet, investors may view this negatively in the short term, especially since the departure is to a different industry, indicating a definitive exit rather than an internal move.