Intimation regarding change in Board of Directors of REC Limited.
RECLTD · price
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REC Limited has announced the appointment of Shri Rajesh Kumar Agarwal as Nominee Director of Power Finance Corporation Limited (PFC) on the Board of REC, effective May 1, 2026. The appointment was approved by the Ministry of Power, Government of India, pursuant to the Share Purchase Agreement dated March 20, 2019 between the President of India and PFC. PFC, as the acquirer, has the right to nominate directors to REC's board. Shri Agarwal serves as Director (Finance) at PFC and brings over 31 years of experience in the Power and Financial sectors, having worked at NTPC, NPCIL, and DTL before joining PFC in 2009.
This is a routine board change reflecting PFC's ongoing board representation following its acquisition of REC. The appointment has no immediate impact on shareholders as nominee directors represent the parent company's interests rather than bringing new strategic direction.