Grasim appoints Hari Krishna Agarwal as Managing Director w.e.f Dec 1 for 2 years

Accordingly, Mr. Dilip Gaur will cease to be Managing Director and Key Managerial Personnel as well as Member of the Board of Directors of the Company with effect from the close of business hours of 30th November 2021,” Grasim said in the filing.

Sep 02, 2021 05:09 IST India Infoline News Service

Grasim Industries
Grasim Industries said in the regulatory filing on Wednesday said Dilip Gaur has resigned as the Managing Director of the company and will cease to be a key managerial personnel as well as a member of the board of directors of the company with effect from November 30, 2021. The company said Hari Krishna Agarwal will take over as the new Managing Director.

“We hereby inform you that the Board of Directors of the Company at its meeting held today i.e. 1st September 2021 has accepted the request of Mr. Dilip Gaur for an early retirement. Accordingly, Mr. Dilip Gaur will cease to be Managing Director and Key Managerial Personnel as well as Member of the Board of Directors of the Company with effect from the close of business hours of 30th November 2021,” Grasim said in the filing.

The stock ended at Rs1,504 up by Rs18.15 or 1.22% from its previous closing of Rs1,485.85 on the BSE. The scrip opened at Rs1,489 and has touched a high and low of Rs1,506.50 and Rs1,485.20 respectively.

Based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors of the Company at its meeting held on i.e. 1st September 2021, inter-alia, have approved the following:

a) The appointment of Mr. Hari Krishna Agarwal as an Additional Director with effect from 1st December 2021; and

b) The appointment of Mr. Hari Krishna Agarwal, as the Managing Director and Key Managerial Personnel of the Company, in terms of the provisions of the Companies Act, 2013 for a period of 2 years with effect from 1st December 2021 to 30th November 2023.

The aforesaid appointment of Mr. Hari Krishna Agarwal is subject to the approval of Members of the Company.

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