Crompton announces New Board Appointments

Mr. Hemant Nerurkar, Chairman of the Board is retiring on October 20, 2023 upon the expiry of his second term. The Board of Directors' at its meeting held on October 17, 2023, decided to appoint Mr. Sundaram as Chairman succeeding Mr. Nerurkar. Mr. Sundaram has been on the Board of the Company since 2015 and has served as the Chairman of the Audit Committee and Risk Management Committee since inception. The Board acknowledged the extensive contribution of Mr. Nerurkar in helping shape Crompton Greaves Electricals.

The Board also inducted two noted industry veterans, Mr. Anil Chaudhry and Mr. Sanjiv Kakkar, formerly with Schneider Electric and Unilever respectively, as Non-Executive Independent Directors, with effect from October 17, 2023, for a first term of five years. This is subject to the approval of the shareholders.

Promeet Ghosh, Managing Director & CEO, Crompton Greaves Consumer Electricals Ltd. said, "I would like to extend heartfelt gratitude to Mr. Hemant Nerurkar, Chairman, for his immense contributions on the Board. He has been instrumental not only in providing strategic direction and in moulding Crompton into a Board led & professionally managed Company. I am thrilled with Mr. Sundaram succeeding Mr. Nerurkar as the Chairman of the Board. He has played a pivotal role on the Board of the Company since inception. I am also excited to welcome our two new Directors, Mr. Anil Chaudhry and Mr. Sanjiv Kakkar, to the Crompton family. Their wealth of experience and exceptional track records in industry will add tremendous value to our organization.

Shares of Crompton Greaves Consumer Electricals Limited was last trading in BSE at Rs. 295.00 as compared to the previous close of Rs. 298.85. The total number of shares traded during the day was 27223 in over 1124 trades.

The stock hit an intraday high of Rs. 298.25 and intraday low of 293.90. The net turnover during the day was Rs. 8035128.00.

Source : Equity Bulls

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CromptonGreavesConsumerElectricals INE299U01018 Appointment