Seshasayee Paper and Boards Limited (SPB), a leading player in the paper industry, has made an important announcement following the untimely demise of their beloved Managing Director, Sri K.S. Kasi Viswanathan, on March 8, 2025. The company shared this information through an official intimation to the National Stock Exchange and BSE Limited on March 22, 2025.

Designating N. Gopalaratnam as Key Managerial Personnel

In response to the loss of Sri K.S. Kasi Viswanathan, the Board of Directors of Seshasayee Paper and Boards convened a meeting on March 22, 2025, to discuss the succession plans and future direction of the company. Based on the recommendations of the Nomination and Remuneration Committee, the Board approved the designation of Sri N. Gopalaratnam, the Wholetime Director and Executive Chairman, as the Key Managerial Personnel (KMP) of the company. This decision ensures compliance with Section 203(1)(i) of the Companies Act, 2013, which mandates the appointment of a Key Managerial Personnel to oversee critical management and operational functions.

Sri Gopalaratnam has significant experience in project and operational management, particularly within the pulp and paper industry, where he has demonstrated leadership in guiding Seshasayee Paper and Boards towards significant growth and success. With over 54 years of specialization in the pulp and paper industry, his appointment aligns with the company’s focus on maintaining strong governance and operational excellence.

Board’s Resolution on Vacancy

The Board of Directors also discussed the vacancy created by the passing of Sri K.S. Kasi Viswanathan, the former Managing Director. The Board resolved not to immediately fill this position, as the company is currently in compliance with the provisions regarding the composition of the Board of Directors, as prescribed under Regulation 17(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR). This matter will be revisited in due course to ensure alignment with future company needs and regulatory requirements.

Homage to Sri K.S. Kasi Viswanathan

During the meeting, the Board of Directors also paid tribute to the late Sri K.S. Kasi Viswanathan, acknowledging his critical role in the revival, development, and growth of Seshasayee Paper and Boards over the past five decades. His contributions to the paper industry and the company will continue to be remembered as a defining part of SPB's legacy.

Compliance with SEBI Disclosure Requirements

In line with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11.11.2024, the company provided the necessary disclosures to both BSE and NSE. This ensures transparency and compliance with regulatory standards regarding changes in Key Managerial Personnel and other significant corporate developments.

Profile of N. Gopalaratnam

• Full Name: N. Gopalaratnam

• Designation: Wholetime Director and Executive Chairman of Seshasayee Paper and Boards Limited

• Profile Summary: Sri Gopalaratnam is a seasoned technocrat with over 54 years of expertise in the pulp and paper industry. His leadership skills and vast experience have played a crucial role in the company’s growth trajectory. He is highly regarded for his operational acumen and his ability to steer the company through challenges while achieving long-term growth objectives.

Board of Directors' Decision

As per the company’s internal policies and after careful consideration, the Board of Directors of Seshasayee Paper and Boards decided to designate Sri N. Gopalaratnam as Key Managerial Personnel, ensuring the smooth continuation of the company’s operations and governance. The company remains committed to effective corporate governance and will keep the stakeholders informed of further developments regarding the Board of Directors and other governance matters.

Regulatory Filings and Further Updates

This information has been disclosed to the stock exchanges in accordance with the Listing Obligations and Disclosure Requirements (LODR) Regulations and relevant SEBI circulars. The company is dedicated to maintaining high standards of transparency and compliance as it navigates this transition. All future updates will be shared promptly with the stock exchanges and stakeholders.

Seshasayee Paper and Boards continues to honor its commitment to sustainable business practices and effective leadership, ensuring long-term value creation for its shareholders and stakeholders.

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