Schaeffler India Appoints Two New Directors; Announces Shareholder Vote on Board Composition
Schaeffler India Limited has appointed two individuals to its board of directors, seeking shareholder approval for both appointments through a postal ballot. The company informed stakeholders about the appointment of Mr. Christophe Hannequin as an Additional Director (Non-Executive Non-Independent) and Mr. Chetan Kumar Maini as an Additional Director (Non-Executive Independent).The Board of Directors approved these appointments via a circular resolution on June 26, 2026, based on the recommendation of the Nomination and Remuneration Committee. Both appointments are effective from July 1, 2026.
Mr. Christophe Hannequin Appointment Details
Mr. Christophe Hannequin has been appointed as an Additional Director (Non-Executive Non-Independent Director) of Schaeffler India Limited. His appointment is subject to shareholder approval at the ensuing Annual General Meeting or within three months, whichever is earlier, and he is liable to retire by rotation.Details regarding Mr. Hannequin's profile are as follows:
| Detail | Information |
|---|---|
| Role | Additional Director (Non-Executive Non-Independent Director) |
| Effective Date | July 1, 2026 |
| Profile Highlights | Graduated with a Master of Science from Bordeaux Graduate School of Management (KEDGE) in France and an MBA from Wake Forest University School of Business (Babcock). |
| Professional Experience | Previously served at Saint-Gobain Sekurit as Director of Finance and Administration for USA and Canada. He later worked at Michelin, primarily focused on finance across various management positions. His roles also included Group Chief Financial Officer at the JCB Group in Great Britain before joining the Schaeffler Group in January 2025. |
| Relationships | Does not have any inter-se relationship with any other Director of the Company. |
Mr. Chetan Kumar Maini Appointment Details
Mr. Chetan Kumar Maini has been appointed as an Additional Director (Non-Executive Independent Director). Mr. Maini is not liable to retire by rotation and will hold office for a period of five consecutive years, from July 1, 2026, up to June 30, 2031. This appointment is also subject to the approval of the Shareholders at the Annual General Meeting or within three months, whichever is earlier.Key information regarding Mr. Maini’s profile includes:
| Detail | Information |
|---|---|
| Role | Additional Director (Non-Executive Independent Director) |
| Effective Date | July 1, 2026 |
| Term of Appointment | Five consecutive years until June 30, 2031 |
| Profile Highlights | Holds a Bachelor of Engineering in Mechanical Engineering from the University of Michigan (1992) and a Master's degree from Stanford University (1993). He is recognized as a pioneer in India's electric mobility ecosystem. |
| Current Ventures | Is on the Board of various Maini Group of Companies across India, Mauritius, and Singapore, focusing on electric mobility technologies, EV battery swapping infrastructure, and electric powertrain integration solutions for two-wheelers, three-wheelers, and specialized EV applications. |
| Relationships | Does not have any inter-se relationship with any other Director of the Company. |
Postal Ballot Notice
The Board of Directors approved a Postal Ballot to seek shareholder approval on these matters:- To Appoint Mr. Christophe Hannequin (DIN: 11696328) as a Non-Executive Non-Independent Director of Schaeffler India Limited (Ordinary Resolution).
- To Appoint Mr. Chetan Kumar Maini (DIN: 01612229) as an Independent Director of Schaeffler India Limited (Special Resolution).
SCHAEFFLER Stock Price Movement
Shares of Schaeffler India Limited slipped by 0.84% on Thursday, settling at ₹4157.6 as trading closed for the day. The stock traded within a range defined by a low of ₹4138.3 and a high of ₹4234.8, with 73,362 shares recorded in total volume.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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