Please find attached outcome of the Board Meeting - resolutions passed by circular by the Board of Directors of the Company on May 26, 2026. We request you to kindly take the above on record.
VIPIND · price
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VIP Industries announced significant changes to its Board composition. Two new Additional Non-Executive Independent Directors have been appointed: Ms. Vaishali Shrikant Bhat (former Global CFO of Reckitt's Hygiene business with 30+ years experience in FMCG) and Mr. Sanjay Mahesh Rastogi (Head of New Businesses, Strategy, ESG at Trent Limited with 30+ years experience). Both appointments are effective May 27, 2026, for a 5-year term, subject to shareholder approval. Simultaneously, two Independent Directors have resigned: Mr. Tushar Jani (citing pre-occupation and personal commitments) and Ms. Payal Kothari (citing other professional commitments). Both resignations are effective from close of business on May 26, 2026. The departures result in loss of chairmanship of the Audit Committee and membership of several board committees.
The simultaneous departure of two independent directors could raise governance concerns for some investors, though the board has promptly filled these vacancies with experienced professionals from large consumer businesses. Shareholders will vote on the new appointments at the next general meeting.