Eastern Treads Limited (ETL), a prominent player in the automotive industry, has announced significant changes in its senior management team. In compliance with Regulation 30 of SEBI (LODR) Regulations, 2015, and guided by the SEBI Circular issued on July 13, 2023, the company shared key developments during its Board Meeting on November 12, 2024.

Appointment of Mr. Devarajan Krishnan as CEO

The Board has appointed Mr. Devarajan Krishnan as the Chief Executive Officer (CEO), effective November 12, 2024. He will continue serving as the company’s Chief Financial Officer (CFO), a role he assumed on August 14, 2023.

Mr. Krishnan, a Chartered Accountant (CA) with over 30 years of corporate experience, brings a wealth of knowledge in corporate finance, business performance management, and regulatory compliance. His previous roles at leading organizations such as Cognizant Technologies, Bank of America Continuum, and Genpact have equipped him with exceptional leadership and strategic skills. Mr. Krishnan’s dedication to areas like cost optimization, ESG project consulting, and business valuation positions him as a transformative leader for Eastern Treads Limited.

Resignation of Mr. Ravi Kumar Mawa

The company also announced the resignation of Mr. Ravi Kumar Mawa, the Chief Operating Officer (COO), effective November 30, 2024. Mr. Mawa cited personal reasons for his decision to step down, with no specific details mentioned in his resignation letter.

The Board expressed gratitude for his contributions to Eastern Treads during his tenure, acknowledging his role in the company’s operational strategies and achievements.

Reappointment of Secretarial Auditors

In other developments, the Board has reappointed M/s BVR and Associates as the Secretarial Auditors for the fiscal year 2023-24, ensuring continuity in the company’s compliance and governance processes.

Compliance Submission

In alignment with the SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123, the company has resubmitted the intimation with all necessary documentation, including the Letter of Resignation from Mr. Ravi Kumar Mawa. This reiterates the company's commitment to transparency and regulatory compliance.

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