Fusion Finance Limited announced significant board changes following its meeting held on March 31, 2026. The company informed stock exchanges about the resignation of one director and the appointment of a new board member, both representing Creation Investments Fusion entities, pursuant to Regulations 30 and 51 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Director Resignation Details

Kenneth Dan Vander Weele resigned from his position as Non-Executive Director of the company, effective March 31, 2026. His resignation was attributed to retirement after serving on the board since 2016.

In his resignation letter, Vander Weele confirmed there were no other material reasons for stepping down beyond retirement. He expressed gratitude for the opportunity to serve and contribute to the company's governance and transformation over his tenure since 2016.

New Director Appointment

The board approved the appointment of Remika Agarwal as Non-Executive Non-Independent Director, subject to shareholder approval. The appointment ensures continued representation from Creation Investments Fusion entities.

Professional Background of New Director

Remika Agarwal brings extensive experience in Non-Banking Financial Companies and credit markets. She joined Creation Investments in January 2020 and currently serves as Director and Country Head – India. Her professional background includes previous board positions at Sonata Finance Private Limited, Kissandhan Agri Financial Services Private Limited, and North End Foods Marketing Private Limited.

Currently, she serves on the boards of CISV India Private Limited and Desiderata Impact Ventures Private Limited. She previously headed Structured Finance & Products at Northern Arc Capital and worked with ICRA Ratings covering the financial services sector.

Educational Qualifications

Agarwal holds a Master of Business Administration from the Management Development Institute and a Bachelor of Science in Economics, Statistics, and Mathematics from St. Xavier's College, Kolkata.

Meeting Details and Compliance

The board meeting commenced at 05:15 PM IST and concluded at 05:40 PM IST on March 31, 2026. The decisions were made pursuant to Regulations 30 and 51 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The appointment was recommended by the Nomination and Remuneration Committee and requires shareholder approval to become effective. The board placed on record its appreciation for Vander Weele's valuable contribution during his association with the company.

Fusion Finance Limited announced that its Nomination and Remuneration Committee has approved the grant of 25,000 stock options to eligible employees under the company's Employee Stock Option Plan 2023. The committee meeting, held on March 31, 2026, lasted from 5:00 PM to 5:15 PM IST.

Stock Option Grant Details

The company disclosed comprehensive details of the stock option grant in compliance with SEBI regulations. The following table outlines the key parameters of the grant:

Vesting and Exercise Terms

The stock options come with specific vesting and exercise conditions designed to align employee interests with long-term company performance. The vesting schedule ensures that options cannot be exercised immediately, promoting employee retention and sustained contribution to the company's growth.

Regulatory Compliance

The grant adheres to the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. Fusion Finance has made the required disclosures under Regulation 30 and Regulation 51 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

The company secretary and compliance officer, Vikrant Sadana, signed the disclosure document digitally on March 31, 2026. The information has been made available on the company's website at www.fusionfin.com for public access.

Employee Incentive Strategy

This stock option grant represents part of Fusion Finance's broader employee incentive strategy under ESOP 2023. The plan is designed to attract, retain, and motivate eligible employees by providing them with an opportunity to participate in the company's equity growth. The exercise price of Rs. 138.24 per option reflects the market value at the time of grant, ensuring fair pricing for participants.