Waaree Energies Limited has informed the Exchange regarding Resignation of Mr Sujit Kumar Varma as Non- Executive Independent Director of the company w.e.f. from the close of business hours on July 01, 2025.
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Waaree Energies informed the exchanges about two board changes effective July 1, 2025. Mr. Sujit Kumar Varma resigned as Non-Executive Independent Director after completing over 4 years on the board, citing personal reasons — he felt he could not contribute much further and wanted to realign his board commitments. He also stepped down as Chairman/Member of the Stakeholders Relationship Committee and Member of the Risk Management Committee. In his place, Mr. Mahesh Ramchand Chhabria (DIN: 00166049), a Chartered Accountant and former Managing Director of Kirloskar Industries Limited, was appointed as Additional Non-Executive Independent Director for a 5-year term ending June 30, 2030, subject to shareholder approval.
This is a routine board refresh with no governance red flags — the outgoing director left on positive terms citing personal capacity constraints, and the incoming director brings strong industry and finance leadership experience. Shareholders are unlikely to see any material impact on the stock; shareholders will need to approve the new appointment at the next general meeting.