Sheela Foam Limited has informed the Exchange about Approval for the designation of Mr. Rakesh Chahar as Deputy Managing Director Director (Whole-time Director) of the Company
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Sheela Foam Limited's Board of Directors, at its meeting on August 5, 2025, designated Mr. Rakesh Chahar (DIN 00180587) as Deputy Managing Director (Whole-time Director) with immediate effect. This decision was taken based on the recommendation of the Nomination & Remuneration Committee. Importantly, the company clarified that this is a designation change only — there is no new appointment or reappointment, and Mr. Chahar's existing terms of tenure and remuneration (as approved by shareholders at the AGM on August 18, 2022) remain unchanged. The disclosure under SEBI's Regulation 30 was made for regulatory compliance.
This is a routine internal designation change with no change in director or terms — shareholders are unlikely to see any material impact on the stock price or company operations. It simply formalizes Mr. Chahar's expanded role within the existing board structure.