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| Exchange Disseminated Time 28/07/2016 18:41:40 | Panasonic Energy India Company Ltd has informed BSE that a meeting of the Board of Directors of the Company was held on July 28, 2016 at 3.00 p.m and the following matters were inter alia transacted:
1. Mr. S.K Khurana, the Chairman & Managing Director of the Company tendered his resignation from all positions in the Company, with effect from the close of business, July 31st, 2016. The Board has accepted his resignation.
2. Mr. Mikio Morikawa has been appointed as the Chairman & Managing Director of the Company with effect from August 01, 2016 till September 30, 2019.
The Board had earlier approved Mr. Morikawa’s appointment as the Managing Director with effect from October 01, 2016 and at the Annual General Meeting of the Company held at 11 a.m on July 28, 2016 the shareholders have approved such appointment. However, in light of the resignation of Mr. Khurana, the Board has now, on the recommendation of the Nomination & Remuneration Committee, approved appointment of Mr. Morikawa as the Chairman & Managing Director with effect from August 01, 2016.
3. Mr. Mikio Morikawa has replaced Mr. S.K. Khurana as a member of the Audit Committee, Stakeholders' Relationship Committee, Nomination & Remuneration Committee and Corporate Social Responsibility Committee of the Board.
The meeting closed at 6:10 p.m. |
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