Hindustan Zinc seeks shareholder approval for Amarendu Prakash as CEO
- Hindustan Zinc seeks shareholder approval for Amarendu Prakash as CEO and Dr. Yogesh Attray as Independent Director
- Prakash’s remuneration includes fixed pay up to ₹55 lakh per month, a ₹100 lakh joining bonus, and ₹400 lakh in ESOS grants
- Remote e-voting opens on September 17, 2026 and closes on October 16, 2026
- Dr. Attray’s appointment follows a nomination by the Ministry of Mines, Government of India
*this image is generated using AI for illustrative purposes only.
Hindustan Zinc Limited has issued a postal ballot notice to seek shareholder approval for the appointment of Amarendu Prakash as Chief Executive Officer and Whole-time Director. The company also seeks approval for the appointment of Dr. Yogesh Attray as an Independent Director.
The postal ballot notice, dated September 9, 2026, was dispatched to shareholders registered as on the cut-off date of September 11, 2026. Voting will be conducted via remote e-voting through the National Securities Depository Limited (NSDL) platform.
Leadership Appointments
The Board of Directors, based on the recommendation of the Nomination and Remuneration Committee, proposes the following appointments:
- Amarendu Prakash: Appointment as a Director and Whole-time Director designated as CEO for a period of three years, effective from August 1, 2026. This requires an Ordinary Resolution.
- Dr. Yogesh Attray: Appointment as an Independent Director (Non-Official Part-Time Director) for a term of three years from August 14, 2026. This requires a Special Resolution pursuant to Regulation 17(1C) and Regulation 25(2A) of the SEBI Listing Regulations.
Mr. Prakash brings over three decades of experience in the steel and metals industry, having previously served as Chairman & Managing Director of Steel Authority of India Limited (SAIL). Dr. Attray is an educationist and entrepreneur with expertise in administration, social development, and agriculture.
Remuneration Structure
The notice discloses the remuneration package for Mr. Prakash, which includes:
| Component | Details |
|---|---|
| Fixed Pay | ₹30 lakh to ₹55 lakh per month including PF & gratuity |
| Performance Pay | Up to 100% of fixed pay, linked to financial/operational targets and HSE parameters |
| Joining Bonus | ₹100 lakh with 100% clawback if employment ends before 24 months |
| Long-Term Incentive | Eligible for LTIP; granted ESOS valued at ₹400 lakh under FY26-27 cycle |
The remuneration is subject to claw-back provisions and performance metrics decided annually by the Board. In the event of inadequate profits, remuneration will be paid in accordance with Section II of Part II of Schedule V to the Companies Act, 2013.
E-Voting Schedule
Shareholders can cast their votes electronically within the specified window:
- Commencement: September 17, 2026 at 9:00 am
- Conclusion: October 16, 2026 at 5:00 pm
The voting rights are proportionate to the paid-up equity share capital held as on the cut-off date. Institutional members must submit board resolutions or powers of attorney to the scrutinizer. CS Manoj Maheshwari has been appointed as the scrutinizer for the process.
Historical Stock Returns for Hindustan Zinc
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.76% | -4.16% | +1.58% | +3.41% | +24.04% | +70.65% |
How might Amarendu Prakash's extensive background at SAIL influence Hindustan Zinc's strategic approach to vertical integration and cost optimization in the zinc sector?
What specific operational or financial performance metrics will be used to evaluate the CEO's performance pay, and how do they align with current market volatility in base metals?
Could the substantial joining bonus and ESOS valuation for the new CEO impact short-term earnings per share (EPS) or dilute existing shareholder equity in the near term?
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