Apex Board Re-appoints Key Directors, Increases Managerial Remuneration Limit, and Sets AGM Date
The decisions involve significant corporate governance matters, including the continuity of key management personnel and independent oversight, as well as an increase in managerial remuneration limits, all of which require shareholder approval and can influence the company's long-term strategic direction.
The re-appointment of key executive and independent directors for multi-year terms indicates stability and continuity in leadership and governance, which is generally viewed positively by the market.
The Board of Directors of Apex Frozen Foods Limited, at its meeting held on 6th September, 2025, approved several key proposals, subject to shareholder approval at the upcoming Annual General Meeting (AGM): * Continuation of Mr. Karuturi Satyanarayana Murthy (DIN 05107525) as Executive Chairman on attaining the age of seventy years, and his re-appointment for a period of five years from 1st December, 2025, to 30th November, 2030. * Re-appointment of Mr. Karuturi Subrahmanya Chowdary (DIN 03619259) as Managing Director for a period of five years from 1st December, 2025, to 30th November, 2030. * Re-appointment of Mrs. Neelima Devi Karuturi (DIN 06765515) as Whole-time Director for a period of five years from 1st February, 2026, to 31st January, 2031. * Re-appointment of Mr. B Raghavulu Naidu (DIN 09158333) as an Independent Director for a second term of five years commencing from 4th June, 2026, until 3rd June, 2031. * Re-appointment of Mr. Govindareddy Krishnamoorthy (DIN 09208749) as an Independent Director for a second term of five years commencing from 22nd June, 2026, until 21st June, 2031. * Increase of the overall limit of maximum managerial remuneration from 16% to 26% of the net profits of the company, computed as per Section 198 of the Companies Act, 2013.
The Board also decided to convene the 13th Annual General Meeting (AGM) of the Company on Monday, 29th September, 2025, at 10:00 A.M. through Video Conferencing (VC)/Other Audio-Visual Means (OAVM). Additionally, the appointment of M/s. A S Ramkumar & Associates, Practising Company Secretaries, as Secretarial Auditors for a period of five years (from FY 2025-26 to FY 2029-2030) was approved, subject to member approval at the ensuing AGM.
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Apex Frozen Foods Limited filed this with the NSE as a statutory disclosure, categorised under corporate actions. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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