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| Exchange Disseminated Time 17/08/2015 14:06:40 | Castrol India Ltd has informed BSE that Mr. Ravi Kirpalani has tendered his resignation as Managing Director of the Company and this has been accepted by the Nomination and Remuneration Committee and the Board of Directors of the Company at its meeting held on August 17, 2015.
The Nomination and Remuneration Committee recommended appointment of Mr. Omer Dormen as an Additional Director and Managing Director with effect from October 01, 2015 and the Board of Directors has approved the same at its Meeting held on August 17, 2015, subject to necessary approvals.
Mr. Ravi Kirpalani will step down as a Managing Director with effect from September 30, 2015 and will continue to serve on the Board as Director and Wholetime Director up to December 31, 2015. Mr. Ravi Kirpalani will leave the Company by February 17, 2016.
In this regard, the Company has issued a Press Release dated August 17, 2015 titled "Castrol India announces change in leadership". |
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