Resignation of Managing Director and Chief Executive Officer of the Company
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Mr. Nuthakki Ravi Prasad (DIN: 00319537) has resigned from the position of Managing Director and Chief Executive Officer of Southern Magnesium & Chemicals Ltd with effect from October 23, 2025. He cited ongoing health issues as the reason for stepping down, and confirmed there are no other material reasons for his departure. Notably, Mr. Prasad was just re-appointed as MD & CEO at the Annual General Meeting held on September 29, 2025, for a three-year term from November 13, 2025 to November 12, 2028, but that appointment now stands revoked. The company has disclosed the resignation to the stock exchange as required under SEBI listing regulations.
The sudden exit of the MD & CEO, coming barely a month after his re-appointment, may create short-term leadership uncertainty for shareholders. Investors should watch for the company's announcement on a successor, as a prolonged leadership vacuum could affect strategic decision-making.