Naveen Jindal to continue as non-executive director

Jindal Steel and Power made a significant announcement on Monday, revealing that its Chairman, Naveen Jindal, will undergo a re-designation as a non-executive director starting from October 1, 2023. According to a filing submitted to the BSE (Bombay Stock Exchange), Naveen Jindal's tenure as Executive Director, previously designated as Chairman, is set to conclude on September 30, 2023.The filing stated, Naveen Jindal has chosen to continue on the Board in the capacity of Non-Executive Chairman, with effect from October 1, 2023. Accordingly, Naveen Jindal will be re-designated as a Non-Executive Director of the Board, with effect from October 1, 2023.In his new role as a non-executive director, Naveen Jindal will not receive remuneration from the company, except for sitting fees when attending board meetings and committee meetings. The filing also noted that he will persist in guiding the company toward realizing its vision of becoming a thriving enterprise committed to nation-building, value creation, and sustainable development.