Leadership Restructuring and Board Appointments
Uno Minda Limited has announced several key leadership changes and board appointments as part of its strategic governance and expansion initiatives. The company has approved the re-designation of Nirmal K Minda as Executive Chairman (Executive Director) for a tenure from April 1, 2025, to March 31, 2027, subject to shareholder approval. Additionally, Ravi Mehra has been appointed as Managing Director for the same period, pending shareholder approval.
To further strengthen the leadership team, the Board has appointed Shekar Viswanathan and Abhay Damle as Additional Directors (Non-Executive Independent Directors) for a two-year term beginning April 1, 2025. Meanwhile, Paridhi Minda and Pallak Minda have been designated as Additional Directors (Non-Executive Directors), also effective from April 1, 2025. These appointments are contingent on shareholder approval, which will be sought via postal ballot.
Employee Stock Option Plan (ESOP) 2025
In an effort to enhance employee motivation and retention, Uno Minda’s Board has given the green light to the Uno Minda Employee Stock Option Scheme (ESOP) 2025. This initiative aims to offer stock options to eligible employees of Uno Minda and its associated companies, reinforcing the company’s commitment to workforce development and long-term engagement. The ESOP 2025 plan is pending shareholder approval and is expected to be a significant step in aligning employee interests with the company’s growth trajectory.
Additionally, the company has re-designated Nitesh Minda as Chief Marketing Officer, placing him among the Senior Management Personnel. This appointment will take effect on April 1, 2025, further solidifying Uno Minda’s focus on marketing and strategic business development.
Investment in Renewable Energy and Policy Revisions
Uno Minda Limited is also expanding its sustainability efforts by investing in renewable energy. The company has approved a ₹6.25 crore investment in Amplus Ampere Private Limited, a Special Purpose Vehicle (SPV) dedicated to solar energy procurement. Through this investment, Uno Minda will acquire a 9.75% stake in the SPV, enabling captive open access to solar power. This move aligns with the company’s commitment to sustainability and renewable energy integration in its operational framework.
Furthermore, the Board has approved a revision in the Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information. This updated policy will come into effect on March 30, 2025, reinforcing Uno Minda’s Limited commitment to transparency and compliance in financial disclosures.
With these strategic moves, Uno Minda Limited aims to enhance corporate governance, employee engagement, and sustainability efforts, further solidifying its position as a leading player in the automotive components industry.
