Orient Electric Limited , a CK Birla Group Company, has announced a significant employee stock option grant under its Employee Stock Option Scheme-2019. The move, aimed at incentivizing and retaining talent, comes as part of the company's strategic human resource initiatives.

Key Details of the Stock Option Grant

Vesting and Exercise Details

The stock options granted by Orient Electric will vest in two tranches:

1. 40% of the options will vest at the end of the first year from the grant date.
2. The remaining 60% will vest at the end of the second year from the grant date.

Once vested, employees will have a four-year window to exercise their options from their respective vesting dates.

Regulatory Compliance and Approval

The grant of these stock options was determined by Orient Electric's Nomination and Remuneration Committee, ensuring compliance with the Securities and Exchange Board of India (SEBI) regulations. This move aligns with the company's commitment to good corporate governance practices.

Implications for Employees and the Company

This stock option grant represents a significant opportunity for eligible employees to participate in the company's growth and success. By offering equity ownership, Orient Electric aims to align employee interests with those of the shareholders, potentially boosting motivation and retention.

For Orient Electric, this ESOP grant may serve as a tool to attract and retain top talent in a competitive market. It also demonstrates the company's confidence in its future growth prospects and its commitment to sharing that success with its workforce.

The implementation of this ESOP scheme reflects Orient Electric's strategic approach to human resource management, potentially enhancing its position as an employer of choice in the electrical consumer durables sector.

Orient Electric Limited , a CK Birla Group Company, has announced changes to its senior management team, marking a move to strengthen its leadership structure.

Key Appointments

The company has made the following key appointments:

Appointment Details

The Board of Directors, on the recommendation of the Nomination and Remuneration Committee, approved these appointments. The decision was made during a board meeting that commenced at 11:10 A.M. and concluded at 1:30 P.M.

Professional Backgrounds

Ajay Saraf

Mr. Saraf brings experience to his new role as BU Head of Switchgear and Wires. His career highlights include:

• Expertise in scaling businesses and driving operational excellence
• Leadership roles at companies like Legero India, Kingspan, Panasonic Life Solutions, Havells India, and Philips India
• Educational background includes a Bachelor of Engineering (Mechanical) and management programs from institutions like IIM Kolkata and IIM Bangalore

Aadarsh Rohira

As the newly designated Chief Digital & Information Officer, Mr. Rohira's experience includes:

• Leading IT initiatives and platform development
• Driving digital transformation at companies such as Hero MotoCorp, Vodafone Idea, and Unilever
• Educational qualifications include a PGDM from IIM Lucknow and a Bachelor of Engineering in Mechanical from IET, Indore

Rakesh Sorout

Mr. Sorout, now designated as Head Manufacturing Operations, brings:

• Experience in manufacturing operations, process improvement, and project management
• Prior roles at companies including Varroc Engineering, Bajaj Electrical, Havells India, LG Electronics, and Mushashi Auto India
• A degree in Bachelor of Technology from YMCA Institute of Engineering, Faridabad

These appointments are part of Orient Electric's efforts to strengthen its management team. The experience of the new appointees is expected to contribute to the company's strategic initiatives and operational excellence.

Orient Electric has stated that these changes are in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has also made this information available on its official website for investors and stakeholders.