Vadilal Industries has announced a significant change in its board composition with the immediate resignation of Mr. Shivakumar Dega from his position as Independent Director and Chairman. The resignation was submitted on February 17, 2026, and took effect immediately, marking an important corporate governance development for the ice cream and frozen dessert manufacturer.

Resignation Details

The company formally communicated this development to stock exchanges on February 18, 2026, fulfilling its disclosure obligations under regulatory requirements. The resignation represents a change in the company's leadership structure at the board level.

Regulatory Compliance

Vadilal Industries has ensured compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, by promptly notifying both major stock exchanges about this board change. The company communicated the resignation to:

• National Stock Exchange of India Ltd. (Scrip Code: VADILALIND-EQ)
• BSE Limited (Scrip Code: 519156)

The disclosure was made under Regulation 30(6) of SEBI (LODR) Regulations, 2015, which mandates timely disclosure of material events and information.

Additional Disclosures

As per sub clause 7(B) of clause A of part A of schedule III of SEBI (LODR) regulations, 2015, Vadilal Industries has indicated that requisite additional disclosures will be made separately within the specified regulatory time limit. This ensures full compliance with all applicable disclosure requirements related to changes in board composition.

The resignation filing was signed by Company Secretary Rashmi Bhatt, confirming the company's adherence to proper corporate governance procedures and regulatory compliance standards.

Vadilal Industries Limited , a prominent player in the Indian ice cream and frozen food industry, has announced a significant change in its leadership structure. The company's board has approved the re-designation of three key promoter directors from executive to non-executive positions, marking a shift in the company's governance approach.

Leadership Transition

The board's decision affects three prominent figures within the company:

1. Mr. Rajesh R. Gandhi
2. Mr. Devanshu L. Gandhi
3. Mr. Janmajay V. Gandhi

These directors will transition from their current roles as Executive Directors to become Non-Executive Non-Independent Directors. This change is set to take effect from September 29, 2025, or upon the appointment of a Chief Executive Officer (CEO), whichever occurs earlier.

Timing and Terms

The re-designation is aligned with the company's articles of association, which mandate this transition. Despite the change in their roles, all three directors will continue to serve on the board until May 13, 2030, completing their remaining appointment terms.

Decision-Making Process

The decision for this leadership restructuring was not taken lightly. It came as a result of a recommendation from the Nomination and Remuneration Committee, which was subsequently approved during a board meeting held on September 13, 2025.

Implications for Vadilal Industries

This move represents a significant shift in Vadilal Industries' corporate governance structure. By transitioning these promoter directors to non-executive roles, the company is potentially paving the way for professional management to take a more active role in day-to-day operations.

The change could also signal Vadilal's commitment to aligning with best practices in corporate governance, potentially enhancing its appeal to institutional investors who often look favorably upon companies with a clear separation between ownership and management.

As Vadilal Industries prepares for this transition, stakeholders will be keenly watching how this change impacts the company's strategic direction and operational efficiency in the competitive ice cream and frozen food market.