OFSS seeks shareholder approval for MD & CEO and Director appointments via postal ballot
OFSS is seeking shareholder approval via postal ballot for the appointment of Mr. Avadhut Ketkar as MD & CEO and Mr. Andrew Mark Morawski as a Non-Executive Director. E-voting is open from September 3 to October 2, 2026. Mr. Ketkar's remuneration ranges from ₹1.40-2.80 crore annually.
The appointment of directors is a standard corporate governance procedure. While important for the company's structure, these appointments alone are unlikely to have an immediate or significant impact on the company's stock price or overall business operations.
The announcement pertains to routine corporate governance procedures, specifically seeking shareholder approval for board appointments. It does not contain information that would significantly impact the company's financial performance or market position in a positive or negative way.
Oracle Financial Services Software Limited (OFSS) has initiated a postal ballot process to seek shareholder approval for the appointment of two key individuals. The company is requesting approval for Mr. Avadhut Ketkar as the Managing Director and Chief Executive Officer and Mr. Andrew Mark Morawski as a Non-Executive, Non-Independent Director.
The postal ballot notice, dated August 24, 2026, was dispatched electronically to members whose email addresses were registered as of August 28, 2026. The remote e-voting period commenced on September 3, 2026, at 9:00 a.m. IST and will conclude on October 2, 2026, at 5:00 p.m. IST.
Mr. Avadhut Ketkar, a Chartered Accountant and law graduate, has been appointed as the MD & CEO for a term of three years, from July 24, 2026, to July 23, 2029. His remuneration is set within a scale of ₹1.40 crore to ₹2.80 crore per annum, along with perquisites, allowances, benefits, and potential stock options. Mr. Andrew Mark Morawski, an experienced executive with over 25 years in enterprise software and telecommunications, has been appointed as a Non-Executive, Non-Independent Director, effective July 22, 2026.
The results of the postal ballot, along with the scrutinizer's report, are expected to be communicated to the stock exchanges and published on the company's website on or before October 6, 2026. The company has engaged Central Depository Services (India) Limited (CDSL) to facilitate the remote e-voting process.
A plain-language summary of a public exchange filing by Oracle Financial Services Software Limited. Read the original for the full detail.