Former SBI chief Arundhati Bhattacharya resigns from Piramal Enterprises board

Piramal Enterprises on Thursday said its board has accepted the resignation of SBI''s former chairman Arundhati Bhattacharya as an independent director of the company from 16 April, 2020

Press Trust of India April 10, 2020 11:30:00 IST
Former SBI chief Arundhati Bhattacharya resigns from Piramal Enterprises board

New Delhi: Piramal Enterprises on Thursday said its board has accepted the resignation of SBI''s former chairman Arundhati Bhattacharya as an independent director of the company from 16 April, 2020.

In her resignation letter, Bhattacharya has indicated that the reason for her resignation is her decision to accept a full-time role as Chairperson and CEO in another company and accordingly, she needs to discontinue her existing non-executive assignments, Piramal Enterprises said in a BSE filing.

Former SBI chief Arundhati Bhattacharya resigns from Piramal Enterprises board

Arundhati Bhattacharya, former chairperson, SBI. Reuters

" ... the Board accepted the resignation of Arundhati Bhattacharya and noted that she will step down as an independent director from the board of the company as well as its committees, from 16 April, 2020," it added.

She has also confirmed that there is no other reason other than that stated, Piramal Enterprises said.

"I wish to advise that I have decided to accept a full-time executive role as Chairperson & CEO for the India operation of Salesforce, a company headquartered in USA.

Accordingly the said company has asked me to discontinue my existing non-executive assignments. I sincerely regret that I will have to step down as non-executive Independent Director from the Board as well as from the committees of Piramal Board, from 16 April, 2020," Bhattacharya said in her resignation letter.

Shares of Piramal Enterprises closed at Rs 958.15 per scrip on the BSE, up 2.44 percent from its previous close.

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