In a recent exchange filing, Apollo Tyres Ltd. announced a significant development resulting from the Board meeting held on May 14, 2024. Satish Sharma, the President of APMEA at Apollo Tyres, has decided to pursue early retirement to focus on personal interests. Consequently, he has tendered his resignation as the Whole-time Director of the company, as well as from his roles on the Risk Management Committee of the Board and the Board of Subsidiaries, effective from the close of business hours on the date of the filing. Sharma has clarified that his decision is solely driven by personal reasons mentioned in his resignation letter. He will continue to serve as President (of APMEA) until May 31, 2024, to ensure a seamless transition of responsibilities. Having been with Apollo Tyres for over two and a half decades, Satish Sharma is recognized as an industry veteran, having held various key positions, including Vice Chairman and Chairman at the Automotive Tyre Manufacturers’ Association (ATMA) for significant periods before joining Apollo Tyres. Additionally, the filing also highlights the appointment of Gaurav Kumar, Chief Technical Officer, as a Whole-time Director (categorised as Additional Director), effective from June 01, 2024, for a five-year term. Furthermore, the appointment of Sumit Dayal and Berjis Desai as Independent Directors of the Company, with effect from August 06, 2024, for a five-year term, is subject to shareholder approval at the upcoming Annual General Meeting (AGM).
