TeamLease Services Ltd - Completion of term of Independent Directors and Change in Board Composition

TeamLease Services Limited (TeamLease/Company) (NSE: TEAMLEASE, BSE: 539658), one of India's largest staffing companies, today announced the retirement of Mr. Narayan Ramachandran, Mrs. Latika Pradhan and Dr. V Raghunathan as Independent Directors on the Board, effective on July 07, 2025, upon completion of their full tenure.

Additionally, TeamLease has also announced that Ms. Rituparna Chakraborty (DIN: 07332241) has tendered her resignation as Non-Executive and Non-Independent Director of the Company effective today.

Mr. Ramachandran, Mrs. Pradhan and Dr. V. Raghunathan were appointed to the TeamLease Board as Independent Directors in 2015. Mrs. Pradhan has also served as a Chairperson of the Audit Committee and Stakeholders' Relationship Committee, and as a member of the Risk Management Committee of the Board. Dr. V Raghunathan has also served as a Chairman of Corporate Social Responsibility, and as a member of the Audit and Risk Management Committees of the Board. Mr. Ramachandran has also served as a Lead Independent Director of the Company since 2020.

Consequent to completion of the term of Mr. Ramachandran as an Independent Director, he shall cease to be the Lead Independent Director. However, Mr. Ramachandran shall continue to be associated with Company as a Non- Executive and Non-Independent Director. He shall also continue to be the Non-Executive Chairman of the Company.

The Board of Directors and Management of the Company places on record its deep appreciation for the invaluable contributions, guidance and services rendered by Dr. V. Raghunathan, Mrs. Pradhan and Ms. Chakraborty during their association with the Company.

Reflecting on Dr. V Raghunathan's, Mrs. Pradhan's and Ms. Chakraborty's tenure with TeamLease, Mr. Ashok Reddy, Managing Director & CEO, TeamLease Services Limited said, "We profusely thank Latika, Raghu and Ritu, for providing valuable guidance to TeamLease's vision of putting India to work, and strategic leadership to the Board over the years. I am personally very grateful to them as they have been a tremendous ally and amazing colleagues on the Board. On behalf of the Board, I would like to thank them for their significant contributions, and we wish them all the best in their future endeavors. With this reorganization, TeamLease has now seven Board Members, two Executive Directors, four Independent Directors and one Non-Executive & Non-Independent Director."

Mr. Reddy also stated "Narayan brings with him a powerful combination of strategic skills, long term vision, board guidance and leadership capabilities. The TeamLease Board and I are delighted to have him continue to lead the team and look forward to the next phase of growth under his leadership."

Shares of Teamlease Services Limited was last trading in BSE at Rs. 1985.95 as compared to the previous close of Rs. 1930.95. The total number of shares traded during the day was 1139 in over 272 trades.

The stock hit an intraday high of Rs. 2011.40 and intraday low of 1934.90. The net turnover during the day was Rs. 2254172.00.

Source : Equity Bulls

Keywords

TeamleaseServices INE985S01024 IndependentDirectors BoardComposition