Four independent directors on the board of Deccan Chronicle Holdings board (DCHL) ? M Sukumar Reddy, G Kumar, V Suresh and P Siddhartha ? have resigned. The company had informed BSE at its meeting on December 8 that the board of directors has accepted their resignations. Further, the board of directors announced the appointment of V Lakshmana Charya, Venkateswarlu Malapaka and S Suresh as additional directors. They will serve as directors in the capacity of being non-executive-independent.
In view of the fresh appointment of non-executive independent directors, the board said it has reconstituted the committees on audit, remuneration, investor grievance committee.
Accordingly, the committees have been restructured. The audit committee is with V Lakshmana Charya as the chairman and Venkateswarlu Malapaka and S Suresh as members of the committee; the remuneration committee will be headed by Venkateswarlu Malapaka as chairman and V Lakshmana Charya and S Suresh as members of the committee and the investor grievance committee with V Lakshmana Charya as chairman and Venkateswarlu Malapaka and S Suresh as members of the committee, the company said in the filing.
