Uno Minda Limited ("Uno Minda"), a global Tier-1 supplier of proprietary automotive systems and solutions to original equipment manufacturers ("OEMs"), today announced a strategic restructuring of its leadership and Board of Directors, effective April 1st, 2025.
Leadership Transition:
In alignment with best practices in corporate governance and to enhance operational oversight, Uno Minda is separating the roles of Chairman and Managing Director. Mr. Ravi Mehra, currently Deputy Managing Director, is being elevated and appointed as Managing Director, assuming responsibility for the company's operations and management. Mr. Nirmal Kumar Minda will transition to Executive Chairman, focusing on strategic direction, business oversight, mentoring the leadership team, championing employee development and wellbeing across the organization. He will continue to guide the team towards achieving group's vision of building sustainable organisation.
This strategic move marks a significant step in Uno Minda's transition towards a professionally led organization, ensuring a more balanced and effective governance structure. Mr. Ravi Mehra, a fellow member of the Institute of Chartered Accountants of India and The Institute of Company Secretaries of India, brings over three decades of extensive experience and deep industry knowledge to his new role, having played a crucial part in Uno Minda's remarkable growth journey since his joining in 1995.
Board Expansion and Strengthening:
To further enhance the Board's diversity and expertise, Uno Minda has made the following appointments effective from April 1st 2025:
- Mr. Shekar Viswanathan as Independent Director: Mr. Viswanathan brings over four decades of diverse experience, having retired as Vice Chairman and Whole-time Director of Toyota Kirloskar Motors Private Limited. He holds a Bachelor of Arts in Economics from the University of Madras and is a member of The Institute of Chartered Accountants of India.
- Mr. Abhay Damle as Independent Director: Mr. Damle, a former Indian Revenue Service officer of 1989 batch, has served in various key government positions and holds Master degree in Mechanical Engineering from IIT Delhi, Bachelor Degree in Production Engineering from NIT Bhopal. He has also worked as Joint Secretary of MoRTH, as Director of Central Institute of Road Transport, Pune, and various roles in the Income Tax department.
- Ms. Paridhi Minda and Ms. Pallak Minda as Non-Executive Directors : Daughters of Mr. Nirmal Kumar Minda, they bring valuable experience gained through their long standing association with the Uno Minda Group since 2001. Ms. Paridhi Minda holds management degree from Bradford University and certification from the London School of Economics, complemented by attending finishing school from Institut Villa Pierrefeu, Switzerland., and Ms. Pallak Minda is a graduate in Entrepreneurship from Delhi University and completed a Master's Programme for Entrepreneurs and Family Businesses (MPEFB) from IIM Bangalore.
Mr Nirmal Kumar Minda, Executive Chairman Uno Minda commenting on the leadership and Board changes said "This strategic realignment and the strengthening of our Board reflect Uno Minda's commitment to robust corporate governance and to building a sustainable organisation. We are confident that Mr. Ravi Mehra's leadership and the diverse expertise of our new Board members will be invaluable in driving Uno Minda's continued success."
Shares of Uno Minda Limited was last trading in BSE at Rs. 878.25 as compared to the previous close of Rs. 915.55. The total number of shares traded during the day was 38600 in over 1842 trades.
The stock hit an intraday high of Rs. 930.65 and intraday low of 854.05. The net turnover during the day was Rs. 33974168.00. |
