Gujarat State Petronet Ltd. (GSPL) has recently announced the resignation of Shri Raj Kumar as the Chairman and Managing Director (CMD) of the company, effective 31st January 2025. This decision comes as a result of his superannuation as the Chief Secretary to the Government of Gujarat. The resignation was formally communicated to the company on the same day, and a copy of the resignation letter has been enclosed as part of the official filing.

The SEBI (Listing Obligations and Disclosure Requirements) regulations mandate that companies disclose such changes in their Board of Directors, and GSPL has complied with these requirements by submitting the resignation details to both the BSE and NSE. The formal notice of resignation also references the official GAD Notification (No. AIS/35.2025/08/G), dated 24th January 2025, which marks the end of Raj Kumar’s service as Chief Secretary.

Key Points:

• Raj Kumar's resignation is attributed to his superannuation as Chief Secretary of Gujarat, an important government role.
• As a result of the resignation, GSPL undergoes a change in leadership at the highest level, impacting the company's management structure.
• GSPL officially notifies the BSE and NSE, providing the resignation letter in compliance with SEBI regulations.

Raj Kumar’s resignation is a significant event for Gujarat State Petronet Ltd., especially considering his longstanding leadership role in the company. His departure follows his retirement from the role of Chief Secretary of Gujarat, and this decision is aligned with his transition from government service to the corporate landscape. The official filing includes the resignation letter, which details his departure from not only GSPL but also from other notable boards, including Gujarat State Fertilizers & Chemicals Ltd., Gujarat Narmada Valley Fertilizers & Chemicals Ltd., and several others.

As per the SEBI regulations, companies are required to disclose such significant changes, ensuring transparency with investors and stakeholders. For investors and the wider public, this change in leadership might raise questions regarding the company’s future direction and how the board will evolve under new leadership. Investors are encouraged to monitor the company’s announcements for any updates on the new appointments to fill the leadership vacuum.

With a long history of leadership roles, Raj Kumar’s resignation marks the end of an era for Gujarat State Petronet Ltd., and the company will now need to address the leadership transition moving forward. It's essential for GSPL’s stakeholders to stay updated on the board’s new composition and how this might impact the company’s strategic goals and overall business performance.

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