United Spirits Limited has informed the Exchange regarding Notice of Postal Ballot
UNITDSPR · price
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Awaiting price reaction for this filing.
United Spirits Limited is seeking shareholder approval via postal ballot to appoint Mr. Praveen Someshwar as a Director and as Managing Director & CEO for a five-year term ending 31st March 2030. He was previously serving as CEO-Designate from 1st March 2025 and was appointed Additional Director on 1st April 2025. His target annual CTC is approximately INR 14.1 crore, with an overall remuneration cap of INR 35 crore per annum, plus one-time joining grants (SARs, Diageo PSP, SESOP) valued at over INR 8 crore and a INR 9.76 crore compensation for amounts forfeited from his previous employer. E-voting runs from 22nd May 2025 to 20th June 2025, with results expected by 24th June 2025. He brings over 30 years of experience, including 24 years at PepsiCo and a previous stint as MD & CEO of HT Media Limited.
This is a routine governance item seeking shareholder ratification of a CEO appointment that has already taken effect. Approval is widely expected and unlikely to move the stock, but it confirms leadership continuity under Diageo group oversight with a high-profile external hire from the FMCG and media sectors.