SEBI tells listed cos to split CMD post

India Business Journal - - NEWS ROUND-UP -

The SEBI has asked listed com­pa­nies to split the post of chair­man and man­ag­ing di­rec­tor by April 2020. It has also made it com­pul­sory for them to have six in­de­pen­dent di­rec­tors on board, in­clud­ing a women di­rec­tor. The changes, which were first rec­om­mended by Ko­tak Bank chief Uday Ko­tak-led committee on corporate gov­er­nance seven months ago, have now been ac­cepted and no­ti­fied by the SEBI. It has also asked the top-100 listed com­pa­nies to we­b­cast an­nual gen­eral meet­ings. The deadline for in­de­pen­dent di­rec­tors and other rules is April 1, 2019, a cir­cu­lar is­sued by the mar­kets reg­u­la­tor has said.

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