Mumbai: Shalimar Paints is reshuffling its leadership structure after a key executive stepped down from the board while continuing in an operational role, a move the company disclosed in a regulatory filing on March 05, 2026.
Director Steps Down
Shalimar Paints confirmed that Venugopal Chetlur has resigned from his position as Whole-time Director with effect from the close of business hours on March 04, 2026. The company disclosed the development in a filing under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements Regulations.
The resignation relates only to his board role. Chetlur will continue to remain associated with the company in an executive capacity.
COO Role Continues
Despite stepping down from the board, Chetlur will stay on as Chief Operating Officer, where he will continue overseeing the operational management of the company.
This means the company retains continuity in its day-to-day operations even as the board composition changes. The arrangement ensures that operational leadership remains intact while governance responsibilities shift.
Personal Reasons Cited
According to the company’s disclosure, the resignation was submitted due to personal reasons. In his communication to the board dated March 04, 2026, Chetlur indicated that there were no other material reasons behind the decision.
He also conveyed appreciation for the opportunity to serve on the board and acknowledged the support received from the chairman, fellow board members and the leadership team during his tenure.
Regulatory Disclosure Filed
Shalimar Paints informed both major stock exchanges about the change in board composition through a formal disclosure submitted on March 05, 2026.
The filing included required details such as the director’s name, DIN number, reason for change and the effective date of resignation, in line with regulatory reporting requirements for listed companies.
While Chetlur’s departure from the board marks a governance shift, his continued role as Chief Operating Officer indicates that Shalimar Paints is maintaining stability in operational leadership even as it adjusts its board structure.
