At meeting held on 18 December 2015
UltraTech Cement announced that the tenure of O. P. Puranmalka as Managing Director of the Company ceases on 31 March 2016. He continues as a Non-executive Director of the Company with effect from 01 April 2016. The Board of Directors of the Company ("the Board") at its meeting held on 18 December 2015 took note of these changes.The Board has appointed K. K. Maheshwari as Additional Director and him as Managing Director of the Company, both with effect from 01 April 2016 for a period of four years. Maheshwari has also been appointed a key managerial personnel in terms of the provisions of the Companies Act, 2013 and he is not related to any other director of the Company.
Maheshwari, a chartered accountant by profession has over 38 years of experience. He has held various leadership roles spanning finance and general management.
The Board also accepted the resignation of Dilip Gaur, Deputy Managing Director of the Company with effect from 31 March 2016.
These changes have been based on the recommendation of the Nomination, Remuneration and Compensation Committee and is subject to the approval of the shareholders of the Company.
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