The appointment of Balakrishnan will be subject to the approval of shareholders at the ensuing Annual General Meeting of the Company.

Neeraj Akhoury, Managing Director & Chief Executive Officer of the Company has tendered his resignation from the post of MD&CEO with effect from close of business hours of February 20, 2020 to pursue other career opportunities. However, Akhoury will continue on the Board of the Company as a Non-Executive Non-Independent Director.
Akhoury has confirmed that there is no other material reason other than those provided herein above. Akhoury assumed office as Managing Director & Chief Executive Officer of ACC Limited on February 4, 2017. During his tenure, the Company focused strongly on sustainable development, health and safety, development of new products etc. The Board has placed on record its appreciation of the leadership provided by Akhoury during his tenure as MD&CEO and his contribution to the Company.
Christof W. Hassig has tendered his resignation from the directorship of the Company with immediate effect, i.e. February 20, 2020 due to his pre-occupation in LH Group and also due to his other personal commitments. Hassig has confirmed that there is no other material reason other than those provided herein above. The Board has placed on record its appreciation of the contribution made by Hassig during his tenure as Non-Executive Non-Independent Director on the Board of the Company. Based on the recommendation of the Nomination and Remuneration Committee and given the demonstrated track record of Sridhar Balakrishnan (DIN: 0008699523), Chief Commercial Officer of the Company has been appointed as an Additional Director on the Board of the Company with immediate effect, i.e. February 20, 2020.
In view of the Akhoury's resignation from the post of MD & CEO, the Board of Directors has appointed Balakrishnan (DIN: 0008699523) as the Managing Director & Chief Executive Officer of the Company for the period of five years with effect from February 21, 2020. The appointment of Balakrishnan will be subject to the approval of shareholders at the ensuing Annual General Meeting of the Company.
Balakrishnan is not related to any of the Directors of the Company. He has affirmed that he is not debarred from holding office of Director by virtue of any order of Securities and Exchange Board of India or any other such authority.

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