The Board of Directors in their meeting held today has approved the changes in the management of the Company.
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Sungold Capital's board, at its June 17, 2025 meeting, re-appointed Mr. Rajiv Kotia as Chairman and Managing Director for another 5-year term (July 1, 2025 to June 30, 2030), subject to shareholder approval at the upcoming AGM. His remuneration was also fixed for 3 years within this term. The board appointed Mr. Subodh Kumar Singh, a Mechanical Engineer and Ph.D in Law with over 32 years of corporate affairs experience, as an Additional Non-Executive Independent Director for a 5-year term. Separately, Mr. Avinash Nolkha resigned from his position as Non-Executive Independent Director effective the same day, citing inability to devote sufficient time due to other commitments. The board also reconstituted its Audit, Stakeholders Relationship, and Nomination & Remuneration committees accordingly.
Continuity at the top with the MD re-appointed suggests stable leadership, while one new Independent Director joining brings fresh compliance and legal expertise. The single Independent Director resignation due to time constraints is routine, but shareholders will watch the AGM for approval of the MD's re-appointment and new pay structure.