Asahi Songwon Colors Limited — Others, 27-12-2024: Resignation

Mr. Munjal Mrugesh Jaykrishna has resigned as a Non-Executive Non-Independent Director of Asahi Songwon Colors Ltd., effective from the close of business hours on December 27, 2024. He will also step down from his roles in the Audit, Nomination and Remuneration, and Risk Management Committees. The absence of material reasons for his resignation has been confirmed. The Board has immediately reconstituted the committees, appointing Mr. Anil Jain, Mrs. Shivani Revat Lakhia, and Mr. Mitesh N. Patel to the Audit Committee, while Mrs. Lakhia chairs the Nomination and Remuneration Committee, and Mr. Jain leads the Risk Management Committee.

This leadership change could lead to a positive outlook as new committee structures are put in place, potentially enhancing governance and operational efficiency. Investors might view these adjustments favorably, reflecting a proactive approach to management succession.