Orient Electric Limited — Others, 17-12-2024: Cessation

Orient Electric Limited has announced a board meeting to approve changes in Key Managerial Personnel. Mr. Saibal Sengupta will retire as Chief Financial Officer and Chief Risk Officer effective December 31, 2024. Mr. Arvind Vats, who joined as Chief Financial Officer - Designate on the same day, will officially take over the role and responsibilities, including those of Chief Risk Officer, starting January 1, 2025. Additionally, Mr. Hitesh Kumar Jain has resigned from his position as Company Secretary and Compliance Officer, effective December 20, 2024.

This management transition could enhance investor confidence as Arvind Vats brings extensive experience from diverse industries, potentially leading to stronger financial strategies and governance. However, the departure of key personnel may create transitional risks in the company's operations.