Relaxo Footwears Limited, a leading footwear manufacturer, has announced a change in its Senior Management Personnel (SMP) following the retirement of Mr. Vijay Wadhwani. Mr. Wadhwani, who served as the Assistant Vice President of Supply Chain Management, officially retired on June 30, 2024, bringing his tenure with the company to a close. However, due to an unintentional oversight in the internal communication process, this change was only brought to the attention of the company’s compliance officer on July 31, 2024, during the routine update of the SMP list. Consequently, the company immediately communicated this change to the BSE and NSE stock exchanges on the same day.

In compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Relaxo Footwears has clarified the details of the change in its corporate announcement. The retirement of Mr. Wadhwani was officially recorded as a cessation from his position as Senior Management Personnel, effective from the close of business hours on June 30, 2024. While there was no appointment or re-appointment involved, the company has ensured that all necessary regulatory disclosures were made promptly.

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This oversight in communication, though unintentional, has been addressed, and Relaxo Footwears is committed to ensuring that such delays do not occur in the future. The company has expressed its unwavering commitment to complying with SEBI regulations and maintaining high standards of corporate governance. Relaxo Footwears will exercise greater vigilance in adhering to all applicable provisions moving forward.

The company has also provided an annexure with further details of this change, as required by the SEBI circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The annexure includes the name, reason for the change, and the effective date of Mr. Wadhwani’s retirement. It also confirms that no appointment or relationship changes with other directors or key management personnel are involved in this change.

Relaxo Footwears remains fully committed to maintaining transparency and keeping its stakeholders informed of any significant developments. The company’s stock exchanges filings ensure that investors and the public are always up to date on changes that may impact the company.

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