News - ITC LTD (ITC) – Change in Directors/ Key Managerial Personnel

"Leadership Transition at ITC Ltd: Mr. Nakul Anand Steps Down as Whole-time Director"

Mr. Nakul Anand, who served as a Whole-time Director, has ceased to hold his position in the company as of January 3, 2024. This change is in line with the completion of his term, which was approved by the shareholders of the company.

The disclosure of this change is made in compliance with Regulation 30 of the SEBI (Securities and Exchange Board of India) Listing Obligations and Disclosure Requirements Regulations, 2015. This regulation mandates listed companies to promptly inform stock exchanges about any major events or developments, including changes in key managerial personnel, that are likely to have a significant impact on the operations or share price of the company.

Mr. Nakul Anand's departure from the board marks the end of a tenure that was presumably characterized by his contributions to the company's strategy and operations. The completion of his term indicates a planned and routine transition in the company's leadership, as per the corporate governance norms and the succession plan laid out and approved by the shareholders.

The announcement does not specify who will be taking over Mr. Anand's responsibilities or if a successor has been appointed. This information might be disclosed separately by the company. The impact of this change on the company's strategy, operations, or performance would depend on various factors, including Mr. Anand's role in the company and the capabilities and experience of the person who succeeds him.

For stakeholders and investors, such changes in key managerial personnel are important as they can influence the company's direction and governance. It is common for the stock market to react to such news, depending on how investors perceive the departure of a high-level executive and the anticipated impact on the company's future.