SKF India (Industrial) skf india industrial has issued a postal ballot notice seeking shareholder approval for key board changes, including the appointment of a new managing director. The resolutions require member consent through remote e-voting.

The company is seeking approval to change the designation of Mr. Sujeeth Pai from Whole-Time Director to Managing Director, effective September 1, 2026. Additionally, shareholders will vote on the appointment of Mr. Mukund Vasudevan as a Non-Executive, Non-Independent Director.

Key Resolutions

The postal ballot notice outlines two ordinary resolutions for member consideration:

• Approval of Mr. Sujeeth Pai’s change in designation to Managing Director for a five-year term starting September 1, 2026.
• Appointment of Mr. Mukund Vasudevan as a Non-Executive Director, effective September 1, 2026.

Remuneration Structure

Mr. Pai’s compensation package includes a basic salary of INR 81,57,278 per annum and a Flexible Pay Plan worth INR 96,41,087 per annum. The total gross salary will be revised annually from April 1, 2027. The package also includes retirement benefits such as Provident Fund, Superannuation, and Gratuity contributions by the company.

Variable pay components include Short-Term Variable Salary (STVS) under the Group Bonus Plan and Long-Term Variable Salary (LTVS) under the Group LTVS program. Perquisites include a company car with driver, club membership, mobile reimbursement, and medical insurance coverage.

E-Voting Process

Shareholders holding shares as on the cut-off date of September 4, 2026, are eligible to vote. The remote e-voting period commences on September 16, 2026, at 9:00 am and ends on October 15, 2026, at 5:00 pm. NSDL has been appointed to facilitate the e-voting process.

Board Composition Changes

Mr. Mukund Vasudevan, who served as Managing Director since October 1, 2025, will step down from that role to join the board as a Non-Executive Director. This transition follows internal role changes within the SKF Group. Both directors do not hold any shares in the company.

SKF India (Industrial) Limited has appointed Sujeeth Pai as Managing Director, effective September 1, 2026. The appointment is subject to shareholder approval within three months.

Mr. Pai succeeds Mukund Vasudevan, who resigned as Managing Director on August 31, 2026, due to an internal role change within the SKF Group. Mr. Vasudevan was simultaneously appointed as a Non-Executive, Non-Independent Director starting September 1, 2026.

Key Details

• Appointee: Sujeeth Pai (DIN: 07763929)
• Former Position: Whole-Time Director
• New Position: Managing Director
• Effective Date: September 1, 2026
• Term: Five years
• Predecessor: Mukund Vasudevan (resigned as MD; now Non-Executive Director)

Mr. Pai ceased to be Whole-Time Director at the closure of business hours on August 31, 2026. His appointment as Managing Director follows the provisions of Section 203 of the Companies Act, 2013 and Rule 8 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.

Profile and Regulatory Compliance

Mr. Pai holds a Mechanical Engineering degree from P.E.S.I.T, Bangalore, and an MBA from ISB, Hyderabad. He brings over 20 years of multidimensional experience in driving growth and profitability, including leading P&L across regions and delivering double-digit growth for businesses.

The company confirmed that Mr. Pai is not debarred from holding the office of Director by SEBI or any other authority. He is not related to any existing Directors, Key Managerial Personnel, or Promoters of the company.

Previous Leadership Transition

Mukund Vasudevan, who held the position of Managing Director until August 31, 2026, holds a Bachelor of Technology from IIT Mumbai and an MBA in Finance and Strategy from the University of Chicago. He has over 25 years of experience in P&L management, strategy development, sales, and M&A across India, the Middle East, and the USA.

Mr. Vasudevan submitted his resignation letter on August 4, 2026, confirming no material reasons aside from the internal role shift. He thanked the Board Members for their support during his tenure.

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Poorva Bang, Company Secretary and Compliance Officer, signed the intimation dated September 1, 2026.