Apollo Tyres Ltd today said Satish Sharma, President of the company’s Asia Pacific, Middle East, and Africa (APMEA) division will retire from the company on May 31.
“Satish Sharma wishes to take early retirement to pursue his personal interests and hence has tendered his resignation as a Whole-time Director of the company and consequently as a member of Risk Management Committee of the board as well as from the Board of Subsidiaries of the Company where he is a director,” the company said in an exchange filing.
Meanwhile, the board has approved the appointment of CFO Gaurav Kumar as the wholetime director from June 1. The board has also approved the nominations of Berjis Desai and Sumit Dayal to the company’s board, with effect from August 6. Desai was a senior partner at law firm J. Sagar Associates while Dayal was the global head of corporate finance at Standard Chartered Bank. All the appointments are subject to shareholders approval at the forthcoming AGM.