Vakrangee Ltd. announced a leadership transition following the meeting of the board of directors on Monday.
On the recommendation of the Nomination and Remuneration Committee, the board has proposed appointing Divya Nandwana as chairman, Vedant Nandwana as managing director, and Ammeet Sabarwal as executive director and group chief executive officer, subject to the approval of the shareholders. These appointments are effective immediately, according to an exchange filing on Monday.
Additionally, Shiv Narain Kaushik and Savita Keni have been appointed as non-executive independent directors on the company's board. Dinesh Nandwana has been conferred as the chairman emeritus.
In view of completion of their tenures, Ramesh Joshi, Sunil Agarwal, Avinash Vyas, BL Meena, and Dr Nishikant Hayatnagarkar have submitted their resignations, so that the new board can take charge with immediate effect.
Shares of Vakrangee closed 0.36% higher at Rs 22.03 per share, as compared to a 0.07% decline in the BSE Sensex.
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