Great Eastern Shipping Reappoints Key Directors and Alters Articles of Association
Great Eastern Shipping Company held its 77th AGM on August 1, 2025. Shareholders approved reappointments of Mr. Ravi K. Sheth as Director, Mr. Shivshankar Menon as Independent Director, Mr. Bharat K. Sheth as Managing Director, and Mr. G. Shivakumar as Executive Director. The company altered Article 92(1) of its Articles of Association, exempting Mr. Bharat K. Sheth from retirement by rotation. M/s. Mehta & Mehta were appointed as Secretarial Auditors. All resolutions passed with overwhelming shareholder support, with approval rates ranging from 94.67% to 99.98%.
*this image is generated using AI for illustrative purposes only.
Great Eastern Shipping Company , a prominent player in the Indian shipping industry, held its 77th Annual General Meeting (AGM) on August 1, 2025, marking significant changes in its leadership and governance structure.
Key Reappointments
The shareholders approved several crucial reappointments during the AGM:
Mr. Ravi K. Sheth was re-appointed as a Director, retiring by rotation. Mr. Sheth, who holds a Bachelor's degree in Commerce and an MBA from the USA, has been associated with the company since July 1990.
Mr. Shivshankar Menon, a distinguished diplomat and former National Security Advisor to the Prime Minister of India, was re-appointed as an Independent Director for a second term of five years, effective August 2, 2025.
Mr. Bharat K. Sheth, who joined the company in 1981 and has served as Managing Director since 1999, was re-appointed as Managing Director for a period of five years, effective April 1, 2026.
Mr. G. Shivakumar, a management graduate from IIM Ahmedabad who joined the company in 1990, was re-appointed as Executive Director for five years, effective November 14, 2025.
Alteration of Articles of Association
In a significant move, the company altered Article 92(1) of its Articles of Association. The amendment exempts Mr. Bharat K. Sheth from retirement by rotation as long as he continues to be a Director of the company. This change underscores the company's commitment to maintaining continuity in its top leadership.
Other Key Decisions
The AGM approved the appointment of M/s. Mehta & Mehta, Company Secretaries, as Secretarial Auditors for a term of five financial years, starting April 1, 2025.
Shareholders also accorded consent for Ms. Nirja Sheth to hold and continue to hold an office or place of profit in the company for five financial years, effective April 1, 2025.
Voting Results
The resolutions passed at the AGM received overwhelming support from shareholders:
| Resolution | Votes in Favor (%) | Votes Against (%) |
|---|---|---|
| Adoption of Financial Statements | 99.98% | 0.02% |
| Re-appointment of Mr. Ravi K. Sheth | 98.36% | 1.64% |
| Re-appointment of Mr. Shivshankar Menon | 94.67% | 5.33% |
| Re-appointment of Mr. Bharat K. Sheth | 99.54% | 0.46% |
| Re-appointment of Mr. G. Shivakumar | 99.62% | 0.38% |
| Alteration of Article 92(1) | 99.57% | 0.43% |
The AGM, conducted through video conferencing, lasted from 3:00 p.m. to 3:59 p.m., reflecting the company's adaptation to modern meeting practices.
These decisions indicate Great Eastern Shipping's focus on maintaining strong leadership and governance structures as it navigates the complex waters of the global shipping industry.
Historical Stock Returns for Great Eastern Shipping Company
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.34% | -4.64% | +0.10% | +15.30% | -28.59% | +243.89% |
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