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Sebi makes separation of Chairman, MD posts voluntary for India Inc

Reprieve will benefit more than 150 companies, including Reliance Industries, Hindustan Unilever, Bajaj Finserv and Adani Ports

Sebi
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Securities and Exchange Board of India

Samie Modak Mumbai
The Securities and Exchange Board of India (Sebi) on Tuesday made it voluntary for India Inc to have a separate chairperson and managing director (MD)/chief executive officer (CEO). The move comes weeks ahead of the April 1, 2022 deadline by which the top 500 listed companies by market value had to install two separate, and unrelated, persons as chairman and MD/CEO.

“Considering rather unsatisfactory level of compliance achieved so far with respect to this corporate governance reform, various representations received, constraints posed by the prevailing pandemic situation, and with a view to enabling the companies to plan for a smoother

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First Published: Feb 15 2022 | 8:01 PM IST

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