Management Change26 May 2026, 03:43 pm
Colorchips New Media: MD Murthy Vadlamani Resigns, Chaganty Ravi Shankar Appointed
AI Summary
Colorchips New Media Ltd announced the resignation of Mr. Murthy Vadlamani Venkata Satyanarayana as Managing Director, effective May 26, 2026. Simultaneously, the Board of Directors approved the appointment of Mr. Chaganty Ravi Shankar as the new Managing Director for a 5-year term, also effective May 26, 2026, subject to shareholder approval. Mr. Vadlamani cited personal reasons for his resignation. Mr. Shankar's appointment is in accordance with Sections 196, 197, and 203 of the Companies Act, 2013.
Key Highlights
- Murthy Vadlamani Venkata Satyanarayana resigned as Managing Director of Colorchips New Media, effective May 26, 2026.
- Chaganty Ravi Shankar appointed as Managing Director for 5 years, effective May 26, 2026, pending shareholder approval.
- Mr. Vadlamani's resignation was due to personal reasons.
- Mr. Shankar's appointment complies with Companies Act, 2013 provisions.
- An Extraordinary General Meeting will be convened within three months for shareholder approval of the appointment.
Price Impact
More from COLORCHIPS