Non-Executive Director Resigns to Join as Full-Time President (Forging Division)

Mr. Koichiro Hayashida has resigned as Non-Executive Non-Independent Director of the company.

Wed 30 Sep 2026

Role Change

Resigned as Non-Executive Non-Independent Director; appointed as President (Forging Division)

Effective Date

1st October, 2026

Appointment Type

Senior Management Personnel via Board resolution by circulation dated 30th September, 2026

Background

Aged 58, master's degree from Kumamoto University, Japan; former Executive Officer of Hagane Company (Specialty Steel) and President of…

Committee Recommendation

Nomination and Remuneration Committee recommendation

What happened

Mr. Koichiro Hayashida has tendered his resignation as Non-Executive Non-Independent Director of Vardhman Special Steels. The stated reason is his full-time appointment within the same company as President (Forging Division) with effect from 1st October, 2026.

Move from board to management

Rather than leaving the company, he moves from a board seat into an executive role. On the recommendation of the Nomination and Remuneration Committee, the Board, by resolution by circulation dated 30th September, 2026, appointed him as Senior Management Personnel designated President (Forging Division). The terms of appointment are stated as full-time employment.

Background of the appointee

• Aged 58 years; master's degree from Kumamoto University, Japan.
• Recently served as an Executive Officer of Hagane Company (Specialty Steel) and as General Manager of the Specialty Steel Business Management Division.
• Extensive expertise in steelmaking technology and quality control.
• Served as President of Aichi Forge, Thailand from 2021 to 2024.

Context noted in the resignation letter

In his letter to the Board, he thanked Mr. Sachit Jain, Chairman and Managing Director, and the Board for their leadership of the project over the past seven years since the start of the partnership between the two companies.

How investors may read this

This is a governance and leadership change intimation. A non-executive board position is vacated, while the individual's experience in specialty steel and forging is now applied in a full-time operating role leading the Forging Division. No financial terms or business impact figures are part of this intimation.

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