ITD Cementation India Limited — Others, 29-05-2025: Resignation

ITD Cementation India Limited has announced a board meeting outcome featuring major leadership changes after the promoter stake shifted from Italian Thai Development Public Company Limited to Renew Exim DMCC (Adani Group). Dr. Malay Mahadevia is set to become Non-Executive Non-Independent Director and Chairman, with Mr. Kattunga Srinivasa Rao joining as Additional Non-Executive Non-Independent Director, subject to shareholder approval. Mr. Nitesh Sharma will take over as CFO and Key Managerial Personnel. Former leaders, including the previous Chairman, Executive Vice Chairman, and CFO, have resigned due to the ownership change. The board plans to amend the Articles of Association to reflect the new promoter, marking a key governance and strategic shift.