Mumbai: Shalimar Paints is making changes to its leadership structure as a key executive has resigned from the board, while continuing in an operational role. The company gave this information in a regulatory filing on March 05, 2026.
the director stepped down
Shalimar Paints has confirmed that Venugopal Chetlur has resigned as its Whole-Time Director with effect from close of business hours on March 04, 2026. The company informed about this development in a filing under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements Regulations.
The resignation is only related to his board role. Chetalur will remain associated with the company in an executive capacity.
COO role will continue
Despite stepping down from the board, Chetlur will retain the position of Chief Operating Officer, where he will continue to oversee the operational management of the company.
This means that despite the change in board composition, the company will maintain continuity in its day-to-day work. This arrangement ensures that operational leadership remains intact even when governance responsibilities change.
Personal reasons given
According to the company’s disclosure, the resignation was given due to personal reasons. In his communication to the board dated March 04, 2026, Chetlur stated that there were no other compelling reasons behind the decision.
He also thanked for the opportunity to serve on the Board and acknowledged the support he has received from the Chairman, other Board members and the leadership team during his tenure.
Regulatory Disclosure Filed
Shalimar Paints informed both the major stock exchanges about the change in board composition through a formal disclosure submitted on March 05, 2026.
The filing included details such as the director’s name, DIN number, reason for change and effective date of resignation as per the regulatory reporting requirements for listed companies.
While Chetlur’s departure from the board reflects a change in governance, his continued role as Chief Operating Officer shows that Shalimar Paints is maintaining stability in operational leadership despite adjusting its board structure.
Comments are closed.