Vesuvius India Limited has announced significant changes to its Board of Directors, marking a new chapter in the company's leadership structure. The refractory and advanced ceramics manufacturer has made strategic appointments while bidding farewell to long-serving members.

New Appointments and Resignations

The Board of Directors, in a meeting held on September 23, approved several key changes:

New Independent Directors

• Ms. Rashmi Joshi and Mr. Sridhar Gorthi have been appointed as Additional Directors under the Independent Category.
• Their appointments are for a term of five consecutive years, effective September 24, subject to shareholder approval.

Completion of Tenure

• The company noted the completion of second terms for Independent Directors Mr. Biswadip Gupta and Ms. Nayantara Palchoudhuri, which conclude on September 24.

Resignation

• Mr. Sudipto Sarkar, a Non-Executive Non-Independent Director, has resigned effective September 23, citing personal reasons.

New Non-Executive Director

• Mr. Biswadip Gupta, who just completed his tenure as an Independent Director, has been appointed as an Additional Director under the Non-Executive Non-Independent Category, effective September 25.

Profiles of New Appointees

Ms. Rashmi Joshi

• Chartered Accountant and Company Secretary with over three decades of experience
• Held leadership roles in multinational organizations across Asia-Pacific
• Former Executive Director of Castrol India Limited (2005-2020)
• Expertise in corporate governance, risk management, and business strategy

Mr. Sridhar Gorthi

• Founding partner of Trilegal and member of the firm's management committee
• Holds a law degree from the National Law School of India University, Bengaluru
• Expertise spans manufacturing, pharmaceuticals, insurance, banking, technology, and more
• Consistently ranked in Chambers and Partners for Corporate/M&A and Private Equity

Postal Ballot for Shareholder Approval

The Board has approved a Postal Ballot Notice seeking shareholder approval for the following:

1. Appointment of Ms. Rashmi Joshi as a Non-Executive Independent Director
2. Appointment of Mr. Sridhar Gorthi as a Non-Executive Independent Director
3. Appointment of Mr. Biswadip Gupta as a Non-Executive Non-Independent Director

Company's Acknowledgment

Vesuvius India expressed its deep appreciation for the contributions of the outgoing directors, particularly highlighting the invaluable guidance provided by Mr. Sudipto Sarkar and Ms. Nayantara Palchoudhuri during their tenures.

These board changes reflect Vesuvius India's commitment to maintaining a diverse and experienced leadership team as it navigates the evolving business landscape. The new appointments bring fresh perspectives and expertise to the company's governance structure, while the retention of Mr. Biswadip Gupta in a new capacity ensures continuity of valuable industry knowledge.

Shareholders will have the opportunity to vote on these appointments through the upcoming postal ballot, demonstrating the company's adherence to corporate governance best practices and shareholder engagement.

Vesuvius India , a leading industrial company, has marked a significant milestone in its expansion strategy by commencing commercial activities at its new facility in Visakhapatnam. The successful start of operations at this location represents a notable advancement in the company's industrial footprint.

New Facility Operations

The company has officially begun commercial operations at the Visakhapatnam facility, signaling the completion of its setup phase and readiness for full-scale production. This development is expected to enhance Vesuvius India's manufacturing capabilities and potentially increase its market presence in the region.

Strategic Expansion

The establishment of the new facility in Visakhapatnam aligns with Vesuvius India's growth plans. By expanding its operational base, the company is positioning itself to meet increasing demand and capitalize on new market opportunities. The choice of Visakhapatnam as the location for this new facility may offer strategic advantages in terms of logistics and access to key markets.

Implications for Stakeholders

This expansion could have positive implications for various stakeholders:

• Shareholders: The new facility may contribute to increased production capacity and potentially lead to improved financial performance in the future.
• Employees: The commencement of operations likely creates new job opportunities in the Visakhapatnam area.
• Customers: With increased production capabilities, Vesuvius India may be better equipped to meet customer demands and potentially offer a wider range of products or services.

Looking Ahead

As Vesuvius India integrates this new facility into its operations, stakeholders will be keen to observe its impact on the company's overall performance and market position. The success of this expansion could set the stage for future growth initiatives and strengthen the company's competitive stance in the industry.

Vesuvius India's decision to expand its operations with this new facility in Visakhapatnam demonstrates the company's commitment to growth and its confidence in the market's potential. As commercial activities commence, the industry will be watching closely to see how this strategic move unfolds for the company.