Welspun Corp appoints Arun Todarwal as Lead Independent Director; stock soars ~1.5%

28 Jun 2022 , 03:32 PM

Welspun Corp Limited informed that in its meeting held on June 27, 2022, it has appointed Arun Todarwal as the Lead Independent Director, Chairman of the Audit Committee, Nomination and Remuneration Committee, Share Transfer and Stakeholders’ Relationship Committee, member of Risk Management Committee, ESG and CSR Committee. His appointment shall be effective from July 1, 2022.

Arun will take charge of the office of K.H. Viswanathan who has resigned effective from July 1, 2022.

This is in response to a regular Board evaluation, in which the Board members felt the need to strengthen Board capabilities in terms of in-depth business and commercial understanding of the strengthening B2C business control-related capabilities, supply chain, and global operations, stated company in a regulatory filing.

Mr. Arun Todarwal, 65, is a fellow member of the Indian Institute of Chartered Accountants. He has spent the last 40 years in practice, handling Audits, International Taxation, Due Diligence, and Management Consultancy.

Welspun Corp ended at Rs225.30 up by Rs2.3 or 1.03% from its previous closing of Rs223 on the BSE. The scrip hit intraday high and low of Rs228.80 and Rs216.25 respectively.