Crompton Greaves Seeks Shareholder Approval for Strategic Board Appointment
Crompton Greaves Consumer Electricals Limited has issued a postal ballot notice for shareholder approval to appoint Mr. Sundaram Damodarannair as a Non-Executive Non-Independent Director. Mr. Sundaram, currently an Independent Director, is set to transition to this new role after completing his second term on September 17, 2025, until he reaches retirement age on April 16, 2028. The company cites the need for strategic continuity, board stability during leadership transitions, and Mr. Sundaram's extensive experience and institutional knowledge as reasons for this move. E-voting for shareholders is scheduled from September 20 to October 19, 2025, with results to be announced by October 21, 2025.

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Crompton Greaves Consumer Electricals Limited , a leading player in the consumer electricals sector, has initiated a significant move to strengthen its board composition and ensure strategic continuity. The company has issued a postal ballot notice seeking shareholder approval for the appointment of Mr. Sundaram Damodarannair as a Non-Executive Non-Independent Director.
A Transition in Leadership
Mr. Sundaram, who has served as an Independent Director for the past decade, is set to complete his second consecutive term on September 17, 2025. In a strategic move, Crompton Greaves is proposing to retain his expertise by transitioning him to a Non-Executive Non-Independent role until he reaches the retirement age of 75 years on April 16, 2028.
Rationale Behind the Move
The company cites several compelling reasons for this proposed appointment:
Continuity in a Board-Run Structure: As a professionally managed company without a promoter group, Crompton Greaves relies heavily on its board for strategic direction and continuity.
Navigating Leadership Transitions: The company has experienced multiple high-level departures recently, including the retirement of its former Chairman and the stepping down of its Managing Director. Mr. Sundaram's continued presence is expected to provide stability during this period of change.
Wealth of Experience: With a career spanning corporate finance, business performance, and strategy, particularly in his roles at Hindustan Unilever Limited, Mr. Sundaram brings invaluable expertise to the table.
Institutional Knowledge: His decade-long association with Crompton Greaves has given him deep insights into the company's operations, governance framework, and long-term strategy.
Commitment to Governance: Mr. Sundaram has demonstrated exemplary dedication, having attended all 225 Board and Committee meetings held during his tenure without seeking leave of absence even once.
Voting Process and Timeline
The e-voting period for this resolution runs from September 20 to October 19, 2025, with results to be announced by October 21, 2025. Shareholders are encouraged to participate in this crucial decision-making process.
Maintaining Board Independence
Despite this transition, Crompton Greaves assures that the board will continue to have a majority of Independent Directors, thereby maintaining strong governance practices and board independence.
Financial Implications
The company has stated that Mr. Sundaram will receive sitting fees and commission similar to other directors, with no change in the compensation structure. This ensures continuity in the remuneration policy while retaining his valuable expertise.
As Crompton Greaves embarks on its next phase of growth and transformation, this strategic board appointment aims to provide the stability and experienced guidance needed to navigate the challenges and opportunities ahead. Shareholders now have the opportunity to weigh in on this significant governance decision.
Historical Stock Returns for Crompton Greaves
1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
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+0.72% | +0.89% | -11.24% | -12.03% | -30.92% | +5.03% |