The Phoenix Mills Limited has informed the Exchange about approval of Board of Directors of the Company with respect to designation of Mr. Rajesh Kulkarni and Ms. Rashmi Sen, Whole Time Directors of the Company as Key Managerial Personnel.
PHOENIXLTD · price
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The Phoenix Mills Limited's Board, at its meeting on September 29, 2025, approved three key management changes effective October 1, 2025. Mr. Shishir Shrivastava, the current Managing Director and a KMP associated with the company since 1999, will be elevated to Non-Executive Vice-Chairman for a two-year term. Additionally, two existing Whole-time Directors — Mr. Rajesh Kulkarni (34 years of design and project management experience, 19 years at PML) and Ms. Rashmi Sen (27 years in business development, leasing, and marketing for retail assets) — have been designated as Key Managerial Personnel. All changes are subject to shareholder approval. The board meeting lasted 20 minutes.
This is a smooth internal succession move — the long-serving MD transitions to a strategic Vice-Chairman role while retaining board influence, and two experienced internal leaders are formally recognized as KMP. For shareholders, it signals continuity in leadership with no disruption to operations, and the elevation is likely to be viewed positively as a planned governance transition.