Elitecon International Directors Resign Amid Governance Concerns

Elitecon International Ltd has disclosed the resignation of two Non-Executive Independent Directors, Dr. Venkata Ramesh Penumaka and Mr. Edward Michael Bourgoin. The resignations are effective April 7, 2026, and April 27, 2026, respectively. Dr. Penumaka cited concerns relating to corporate governance and recent regulatory developments. Mr. Bourgoin cited concerns regarding information availability and governance developments. The company acknowledged a delay in processing and disclosing these resignations due to an inadvertent oversight during a senior management transition, and stated corrective measures are being taken to prevent recurrence. Both directors have also ceased their committee positions.