REC Limited, a Government of India Enterprise and a Maharatna company, has officially announced a change in its senior management. As per the recent notification under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has informed the stock exchanges about the cessation of Ms. Malathi Sundararajan from the position of Executive Director and Chief Risk Officer (CRO) due to her superannuation. This transition is part of the company's ongoing leadership updates to ensure continued corporate governance and management effectiveness.

The cessation of Ms. Sundararajan, who has served in the capacity of Executive Director and CRO, is effective from November 30, 2024. Her departure marks the conclusion of a distinguished career, contributing significantly to the company's leadership and growth. Under her tenure, REC Limited has seen robust progress in its financial and operational strategies, enhancing its standing in the Indian power sector.

Following Ms. Sundararajan's superannuation, REC Limited has appointed Mr. Subrata Aich as the new Executive Director and Chief Risk Officer of the company, effective December 1, 2024. Mr. Aich brings a wealth of experience, being a Chartered Accountant and holding a bachelor’s degree in commerce. He has an extensive career of over 27 years in the areas of financial accounting, planning, lending operations, and fund management. His diverse expertise will be crucial in steering the company's strategic objectives, particularly in risk management and financial growth.

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This senior leadership change is aimed at strengthening REC's position in managing risk effectively and furthering its corporate vision of sustainable energy development. Subrata Aich's deep experience in financial operations will enable him to effectively manage and mitigate potential risks while supporting REC Limited's core business of financing the power sector. His appointment ensures that the company remains in capable hands, poised for continued success and leadership in the power industry.

As per the SEBI regulations, REC Limited has also ensured transparency in this leadership change by providing clear disclosures regarding the cessation and appointment. The company remains committed to maintaining high standards of governance and compliance.

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