CEO & Whole-Time Director change: resignation noted, successor's appointment approved

Leadership change at the top.

Thu 1 Oct 2026

Outgoing CEO Last Date

continues till the close of business hours on November 02, 2026

Successor Appointment Effective Date

with effect from November 3, 2026

Appointment Term

for a term of 5 years

Designate Role Start

associated as CEO & Whole-Time Director (Designate) from October 1, 2026

Approval Condition

subject to the approval of the shareholders

The Board of National Peroxide Limited met on October 01, 2026 and dealt with two connected items: the exit of the current Whole-Time Director & CEO and the appointment of his successor.

The outgoing officer

• The Board took note of the resignation of Mr. Rajiv Arora (DIN: 08730235) as Whole-Time Director and Chief Executive Officer, vide his letter dated October 01, 2026.
• The stated reason is family and personal reasons.
• Mr. Arora will continue as CEO & Director of the Company till November 02, 2026, to facilitate an orderly transition and handover of his responsibilities, and he ceases from the said offices with effect from the close of business hours on November 02, 2026.
• In his resignation letter, he states he is required to serve a notice period of 6 months as per the terms of his appointment letter and is willing to serve the same, but has requested early relieving on 2nd Nov 2026 due to personal reasons, subject to waiving off the above notice period by the company.

The incoming officer

• The Board, based on the recommendation of the Nomination and Remuneration Committee, considered and approved the appointment of Mr. Vinay Divakar Jayade (DIN: 07672462) as the Chief Executive Officer and Whole-Time Director (Key Managerial Personnel) of the Company with effect from November 3, 2026, for a term of 5 years.
• The appointment is subject to the approval of the Shareholders of the Company.
• Mr. Jayade is associated with the Company as Chief Executive Officer and Whole-Time Director (Designate) with effect from October 1, 2026, and will take charge as CEO and Whole-Time Director with effect from November 3, 2026, following the cessation of Mr. Rajiv Arora from those offices.

Profile given in the update

• Mr. Jayade is a Chemical Engineering graduate (Polymer Technology) from MIT, Pune, and holds a Master's Degree in Marketing Management from K. J. Somaiya Institute of Management, Mumbai.
• He is described as a seasoned business leader with over 34 years of experience across the specialty chemicals, polymers, elastomers, coatings and industrial materials sectors.
• Prior to joining the Company, he served as JV President of Cabot Sanmar Limited, and earlier as CEO & Managing Director of ASK Chemicals India.
• He has also held leadership and management positions with Reliance Industries, Lanxess India, Dow Chemical/Rohm & Haas, Ciba Specialty Chemicals, Akzo Nobel Polymer Chemicals, DCM Shriram and Caprihans India.
• The update confirms that none of the Directors and Key Managerial Personnel of the Company are related to each other.

Other details in the update

• The Board Meeting commenced at 04.00 p.m. (IST) and concluded at 04.20 p.m. (IST).
• It is confirmed that Mr. Vinay Divakar Jayade is not debarred from holding the office of Director by virtue of any order passed by the Securities and Exchange Board of India or any other statutory authority or court.

What to take away

• There is an overlap period: the outgoing CEO is with the Company till November 02, 2026 and the incoming CEO is associated as designate from October 1, 2026, which the update describes as being to facilitate a smooth and orderly transition, including takeover of responsibilities and ongoing matters.
• The appointment carries a stated term of 5 years from November 3, 2026 and is subject to shareholder approval, so the shareholder vote is the next step for the appointment to take full effect.

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