N. Venkataraman Re-designated Deputy Managing Director; Ramamurthy Jayaraman Appointed CFO from 1 October 2026

Board approved a senior leadership rejig effective 1 October 2026.

Tue 29 Sep 2026

N. Venkataraman Redesignation

Re-designated as Deputy Managing Director effective 1 October 2026, for balance of term up to 29 July 2030

N. Venkataraman New Responsibilities

Oversee Finance, Strategy, Legal, Secretarial and IT, working with CEO & MD Rakshit Hargave on transformation agenda

Ramamurthy Jayaraman Appointment

Appointed Chief Financial Officer and KMP from 1 October 2026

Ramamurthy Jayaraman Experience

Chartered Accountant and Company Secretary with over 22 years overall experience, including 15 years with the company

Board Approval Date

Board meeting on 29 September 2026, based on NRC recommendation and Audit Committee approval

What was decided

At its meeting on 29 September 2026, the Board approved two senior management changes, based on the Nomination and Remuneration Committee's recommendation and the Audit Committee's approval.

• N. Venkataraman (Whole-Time Director, Executive Director and CFO) is appointed and re-designated as Deputy Managing Director with effect from 1 October 2026, for the balance period of his existing term up to 29 July 2030, liable to retire by rotation. The terms, including remuneration, are subject to approval of the Members.
• He ceases to be Chief Financial Officer but continues as Whole-Time Director and Key Managerial Personnel.
• His remit: Finance, Strategy, Legal, Secretarial and IT, working with Rakshit Hargave, CEO and Managing Director, to drive the transformation agenda.
• Ramamurthy Jayaraman, Vice President – Corporate Finance, is appointed Chief Financial Officer and Key Managerial Personnel from 1 October 2026, heading Financial planning & analysis, Taxation, Treasury, Shared Services and Business Commercial.

Backgrounds

• Venkataraman has around 4 decades of experience and has been with the company since April 2007. Earlier he headed finance for Eicher Motors' two-wheeler and commercial vehicle businesses and began his career at Hindustan Aeronautics Limited.
• Jayaraman is a Chartered Accountant and Company Secretary with over 22 years of overall experience, including 15 years with the company. He earlier worked at PwC and Deloitte.

How to read it

This is an internal leadership continuity move: the long-serving CFO steps up to a broader Deputy Managing Director role, while an internal finance veteran takes over as CFO. The list of officials authorised to determine materiality and make disclosures to the exchanges has been updated accordingly.

The Board Meeting commenced at 3:45 P.M. IST and concluded at 4:15 P.M. IST.

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