As part of the company’s systematic succession planning, the Board of Directors of Brigade Enterprises Limited has inter alia considered and approved the appointment of Pavitra Shankar, who is presently Executive Director as Managing Director of the Company for a period of five years with effect from 12th October 2022.
The board in addition approved the appointment of Nirupa Shankar who is presently an Executive Director as Joint Managing Director for a period of five years effective 12th October 2022. This will be subject to shareholder approval.
As part of global best practices and good corporate governance, the Board of Directors also considered and approved the appointment of Aroon Raman, Independent Director, as non-executive Vice Chairman for the period 11th October 2022 to 4th August 2024.
R. Jaishankar will continue in his role as a Wholetime Director and Executive Chairman and will mentor the next generation of leaders in their new roles.
Additionally, Amar Mysore is reappointed as Wholetime Director designated Executive Director for a further period of five years with effect from 16th May 2023 till 15th May 2028.
To further strengthen the Board, the appointment of Velloor Venkatakrishnan Ranganathan was announced as an Additional Director in the category of Non-Executive Independent Director of the Company for a period of five years from 11th October 2022 to 10th October 2027.
Commenting on the development, M R Jaishankar, Executive Chairman, Brigade Enterprises Limited, said, “The internal elevation of both Pavitra and Nirupa is in keeping with our overall strategy and well-thought-out succession planning process. Both have played lead roles in the expansion and growth story of Brigade. Both have future-oriented thinking, clear vision, passion for advanced technologies & sustainable growth and hold the Brigade Core Values as a guiding force. I am confident that under their leadership, Brigade will continue to rise to even greater heights.”
