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The board took note that Bharat Hari Singhania, Chairman, has expressed his desire to step down as chairman and director of the company with effect from April 1, 2024, the company informed exchanges on Thursday.
The board acknowledged and appreciated his contribution in growth of the company. Considering his long association, vast experience, knowledge, and wisdom in the business of the company and to continue to benefit from his rich and valuable experience, the Board has appointed Bharat Hari Singhania as Chairman Emeritus for life term and strategic advisor to the board for a term of five years with effect from 1st April 2024, the filing said further.
Meanwhile, the board has redesignated Vinita Singhania, Vice Chairman and Managing Director of the Company, as Chairperson and Managing Director of the Company, effective April 1, 2024, on existing terms and conditions, including remuneration.
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