Management Change30 Jun 2026, 07:30 pm
RHI Magnesita India: Parmod Sagar Resigns as MD & CEO, Pankaj Malhan Appointed
AI Summary
RHI Magnesita India Ltd announced significant management changes following a Board of Directors meeting on June 30, 2026. Mr. Parmod Sagar has resigned as Managing Director & CEO, effective end of day June 30, 2026. He will continue as Chairman and transition to Non-Executive Director. Mr. Pankaj Malhan has been appointed as the new Managing Director & CEO, effective July 1, 2026. Mr. Azim Syed has resigned as Whole-time Director but will continue as Chief Financial Officer. These changes also impact the Key Managerial Personnel (KMP) and the CSR Committee composition. Similar changes were approved for the material subsidiary, RHI Magnesita India Refractories Limited.
Key Highlights
- Parmod Sagar steps down as MD & CEO, remains Chairman.
- Pankaj Malhan appointed as new MD & CEO from July 1, 2026.
- Azim Syed resigns as Whole-time Director, continues as CFO.
- Management changes approved for both parent and subsidiary companies.
- CSR Committee reconstituted with new member appointment.
Price Impact
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