The Board of Directors of the Company, at its meeting held today took the following decisions:
1. The Board approved the voluntary winding up of its Dubai Based Wholly Owned Subsidiary Company namely, Godfrey Phillips Middle East DMCC. The procedural formalities relating to voluntary winding up will be done in due course of time.
2. Mr. R. A. Shah, Chairman of Board, has decided to retire as Non- Executive Non-Independent Director on Board of Company and not seek re-appointment at the forthcoming AGM scheduled to be held on 26th August, 2022.
3. The Board approved appointment of Dr. Bina Modi as Chairperson of Board in succession to Mr. R. A. Shah from conclusion of forthcoming AGM, in addition to her position as Managing Director & CEO of the Company. This was considered desirable considering the leadership excellence shown by her in steering the Company to greater heights in recent times.
A Brief Profile of Dr. Bina Modi is mentioned in attached letter.