Last updated : November 15, 2021 11:25 am
The company has also announced a strategic change in its leadership structure, further improving the corporate governance framework.
Commenting on the new development Lalit Agarwal, MD said, “The appointment of Aakash as the chairman will herald a new era of corporate governance in the company. Aakash has been a torchbearer of ethics and governance and this indeed is a big change for a so far promoter-led company which is now embarking on its new charter of growth, ably supported by a deep-rooted professional and independent governance culture.”
Moondhra commenting on his appointment added, “I am thankful to the Board for posing the confidence in me and I will try my best to contribute in making VMart an even better organization than it already is and I look forward to this exciting journey together with the fellow board members."
“In the long run, this diversion of roles would surely benefit all stakeholders in our value chain,” added Agarwal. “It is a key to promote overall Board independence while enabling me to focus even more deeply on driving company growth, value creation for all our shareholders, and day-to-day company management.”