United Spirits Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot
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United Spirits Limited has announced the results of a postal ballot held between May 22 and June 20, 2025, where shareholders approved the appointment of Mr. Praveen Someshwar as a Director and as Managing Director and Chief Executive Officer for a five-year term from April 1, 2025 to March 31, 2030. Resolution 1 (Director appointment) received 99.85% approval with 61.14 crore shares voted in favor, while Resolution 2 (MD & CEO role and remuneration) received 99.03% approval with 60.64 crore shares in favor. His annual compensation package includes a basic salary of Rs 4.7 crore, allowances of Rs 2.7 crore, and a target total cost to company of Rs 14.11 crore, with an overall remuneration cap of Rs 35 crore per annum. He will also be eligible for long-term incentives including Diageo group's Performance Shares Plan and Stock Appreciation Rights, reflecting United Spirits' status as a Diageo group company.
The near-unanimous shareholder approval formalizes Mr. Someshwar's leadership at the company and provides continuity and stability at the top, which is positive for governance and strategic execution. With a clear five-year term and structured long-term incentives tied to Diageo plans, shareholders have endorsed the management transition and long-term value creation framework.