RISHABH · price
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The Board of Directors of Rishabh Instruments Ltd approved the re-designation of Mr. Dineshkumar Musalekar from Whole-Time Director to Managing Director, effective May 18, 2026. This appointment is subject to shareholder approval at the ensuing AGM. He will serve a 5-year term, liable to retire by rotation. His total remuneration includes INR 14 million annually plus Euro 42,000 and Euro 36,000 from subsidiaries Lumel S.A. and Lumel Alucast respectively. Mr. Musalekar has three decades of experience, including as President and CEO of Lumel S.A. since 2013, and was previously associated with OTIS (UTC group) and Avire (HALMA group). No inter-se relationship exists with other directors.
This internal promotion reflects the board's confidence in Mr. Musalekar's leadership and strategic vision, potentially viewed positively by markets as it indicates continuity in experienced management.