Carborundum Universal Limited announced the following organization structure changes considered by the Board in alignment with the Company's growth plans and approved at its meeting held May 3, 2024, basis the recommendation of the Nomination and Remuneration Committee: Mr. Ninad Gadgil, who has been heading the Abrasives business of the Company in India for the last four years since 4th November 2019 is being transferred to M/s. Wendt (India) Limited (Wendt India), an associate company, as its Executive Director & CEO effective from 6th May 2024 and consequentially will be stepping down from the services of the Company effective the closing hours of 5th May 2024. Mr. C. Srikanth who is currently the Executive Director & CEO of Wendt India has been appointed as the Business Head of Abrasives Business with effect from 6 th May 2024. Mr. Bhaskharan Kannun, Head - Human Resources will be retiring from the services of the Company effective closing business hours of 31st August 2024. Mr. Shyam C Raman, has been appointed as President & Chief Human Resources Officer - Designate with effect from 1st July 2024 and he would be taking over as the Chief Human Resources Officer of the Company from 1st September 2024. Mr. C Srikanth aged 58 years holds a Bachelor's degree in Mechanical engineering and a master's degree in business administration in marketing. He has more than three decades of experience in sales and marketing in precision abrasives business. He was earlier associated with the Company heading the Sales and Marketing function of the Abrasives
business before moving to Wendt (India) Limited. He is currently on the Boards of Wendt (India) Limited, CUMI Abrasives and Ceramics Company Limited and Wendt Grinding
Technologies Limited. Mr. Shyam C Raman, aged 61 years holds a Bachelors degree in Mechanical Engineering and a PGDM from IIM Calcutta. Mr. Shyam has served in various capacities for over twenty-five years in Murugappa Group companies since July 1998. After stints as Chief Marketing Officer of Cholamandalam Cazenove AMC and as Business Head of Cholamandalam Securities, he took over as HR Head of Cholamandalam Financial Services Group in 2002. In 2007, he was transferred to Group Corporate as Head of Group HR, a role that he has held since then. He has been anchoring the careers and development of leadership talent in the Group. He has also been the driving force behind several pan-Group initiatives across the spectrum of HR - including performance management, employee engagement, compensation and benefits, etc., Since 2020, he has also led the Group Corporate Communications function.