Intimation under Regulation 30 SEBI (LODR) Regulation, 2015
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SNL Bearings Ltd has informed the stock exchanges that Mr. Lalit Pandey has resigned as Chief Executive Officer of the company, effective from the close of business hours on June 2, 2025. In his resignation letter dated May 30, 2025, Mr. Pandey stated that his reason for stepping down is an intercompany transfer. He has also confirmed that there are no other material reasons for his resignation beyond what has been stated. The company has acknowledged his communication and appreciated his services during his tenure. The requisite disclosure under Regulation 30 read with Schedule III of SEBI LODR Regulations has been enclosed as Annexure B.
Since the CEO's departure is due to an intercompany transfer (suggesting movement within the same group rather than any internal dispute), the immediate impact on shareholders is likely neutral. However, investors should watch for the company's next announcement regarding the appointment of a new CEO, as leadership transitions can affect strategic continuity.