Automotive glass manufacturer Saint Gobain Sekurit India today said that Mr Sreeram Srinivasan has resigned as Managing Director as well as Director of the company with effect from June 11, 2011.
In a filing to the Bombay Stock Exchange (BSE) the company said its board of directors now comprises Chairman Mr Anand Mahajan, Mr M G Ramakrishna and Mr Padmanabha Shetty.
It, however, did not specify the reasons for Mr Srinivasan’s exit from the company.
Last month, the company had said that its promoters Saint Gobain Glass India Ltd and French parent firm Saint—Gobain Securit SA France had decided to delist the company from the BSE.
The promoters had agreed to buy—back publicly held shares of the company, constituting 14.23 per cent of the outstanding equity capital, under the SEBI rules to effect delisting, the company had said.
The issue is now with the shareholders of the company who will consider the resolution of delisting by way of postal ballot.
Shares of Saint Gobain Sekurit India were today trading at Rs 42 on the BSE in the afternoon trade, up 1.45 per cent from its previous close.