Chairperson and Independent Director Retires on Completing Second Term; Managing Director to Take Over as Chairperson
Ms. Radha Unni retires as Chairperson and Independent Director with effect from end of day September 26, 2026, on completing her second and final term.
By ScoutQuest · · 2 min read
- Retiring Chairperson
- Ms. Radha Unni retires as Chairperson and Independent Director effective end of day September 26, 2026
- Reason for Retirement
- Completion of second and final term as Independent Director
- New Chairperson
- Mr. Mithun K Chittilappilly, Managing Director, to assume office as Chairperson from September 27, 2026
- Board Approval Date
- Board approval granted on July 29, 2026
- Committee Changes
- Ms. Radha Unni ceases to be chairperson/member of Audit, Nomination & Remuneration, Stakeholders' Relationship, and Risk & ESG Committees
What happened
Ms. Radha Unni ceases to be Chairperson and Independent Director of V-Guard Industries with effect from the end of the day on September 26, 2026. The reason stated is completion of her second and final term as Independent Director.
Under Indian company law, an independent director can serve a maximum of two consecutive terms, after which retirement is automatic. So this is a scheduled exit, not a resignation or a disagreement.
Committee roles
- She also ceases to be chairperson/member of the Audit Committee.
- Nomination and Remuneration Committee.
- Stakeholders' Relationship Committee.
- Risk & ESG Committee.
Who takes the chair
Mr. Mithun K Chittilappilly, the Managing Director, will additionally assume office as Chairperson of the Board with effect from September 27, 2026. This was approved by the Board of Directors at its meeting held on July 29, 2026, and had been intimated to the exchanges earlier that day.
About the incoming Chairperson
- Managing Director of V-Guard since April 2012.
- Graduate in Commerce and MBA (Finance & Marketing) from University of Melbourne, Australia.
- Earlier worked at S B Billimoria & Co (now part of the Deloitte Group) and Hewlett Packard's Global e-Business Centre.
- Joined V-Guard in April 2004; appointed Executive Director in May 2006.
- Credited with expanding the business beyond South India to a pan-India presence and with entry into kitchen appliances, modular switches, switchgear, solar inverter and air coolers.
How investors may read it
The change combines the Managing Director and Chairperson roles in one person, moving the chair from an independent director to an executive of the promoter family. Some investors watch such combinations from a board-independence standpoint, while others see continuity of leadership. The company will need to fill the vacated independent director and committee positions in line with applicable requirements.
There is no financial or operational impact disclosed in this intimation.
Also from V-Guard Industries
ESG Rating of '73' for FY'26, improved from '70' for FY'25
16 Oct 2026
V-Guard Industries to hold Q2FY27 earnings conference call on October 30, 2026, hosted by Ashika Institutional Equities
13 Oct 2026
Board meeting on October 29 to consider and approve unaudited results for quarter and half year ended September 30
13 Oct 2026
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