The Board of Directors of V-Guard Industries Limited approved retirement of Mr. Kochouseph Chittilappilly, from the Board of the Company, effective from close of March 31, 2020. Considering the significant contributions made by Mr. Kochouseph Chittilappilly in building the Company over the last four decades, as the Founder and a Director from inception, the Board of Directors decided to appoint him as Chairman Emeritus with effect from April 1, 2020, to continue to avail his knowledge, expertise and services in an advisory and mentoring role. The Board of Directors also approved payment of emoluments for his services as Chairman Emeritus. Both the appointment and emoluments payable, will be subject to the approval of the shareholders of the Company.