Huhtamaki PPL has announced a significant change in its leadership team. Jagdish Agarwal, who currently serves as the Executive Director and Chief Financial Officer (CFO) of the company, has tendered his resignation to pursue professional opportunities outside the organization.

Key Details of the Resignation

BSE Clarification Request and Company Response

BSE Limited sought additional details and clarification regarding the copy of resignation letter of Jagdish Agarwal through an email dated December 10, 2025. The exchange highlighted a procedural matter concerning the submission timeline of the resignation letter copy.

The company acknowledged that while Agarwal's resignation was effective from December 1, 2025, there was an inadvertent delay of one day in submitting the copy of the resignation letter to BSE. Huhtamaki India assured the exchange that it will continue to make timely submissions for all required disclosures.

Corporate Governance and Regulatory Compliance

The company has promptly disclosed this development in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure also adheres to SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, ensuring that shareholders and the market are informed of changes in key managerial personnel and board composition.

Impact on Huhtamaki India

Agarwal's departure represents a significant change for Huhtamaki India, as he holds crucial roles within the organization. As both an Executive Director and the CFO, Agarwal has been instrumental in the company's financial strategies and corporate governance.

Next Steps

While the company has not yet announced a successor, the substantial notice period until December 2025 provides Huhtamaki India with ample time to conduct a thorough search for a suitable replacement. This transition period should allow for a smooth handover of responsibilities and maintain continuity in the company's financial leadership.

Huhtamaki India Limited, a part of the global Huhtamaki Group, is known for its packaging solutions. The company's ability to manage this transition effectively will be crucial for maintaining investor confidence and ensuring stable financial management in the coming months.

Corporate Governance Update

Huhtamaki PPL (ISIN: INE275B01026) has recently announced significant changes to its board of directors. These appointments reflect the company's commitment to strengthening its leadership and governance structure.

New Appointments

The company has made the following key appointments to its board:

1. Mr. Amit Banati has been appointed as an Additional Director in the capacity of Non-Executive Director.
2. Mr. Eric Le Lay has been appointed as an Additional Director in the capacity of Non-Executive Director.

Effective Date

Both appointments are effective from May 11, 2023. This action by the company ensures continuity in board operations and strategic oversight.

Impact on Corporate Governance

These appointments are expected to bring fresh perspectives and international expertise to Huhtamaki PPL's board. Mr. Banati and Mr. Le Lay's experience in the global packaging industry could potentially contribute to the company's strategic direction and growth initiatives.

Shareholder Approval

It's important to note that these appointments are subject to shareholder approval at the upcoming general meeting. This process aligns with good corporate governance practices, allowing shareholders to have a say in the composition of the board.

Conclusion

The addition of Mr. Amit Banati and Mr. Eric Le Lay to Huhtamaki PPL's board signifies the company's focus on enhancing its leadership team. Shareholders and market observers will likely watch closely to see how these new directors influence the company's future strategies and performance.