In a swift development, the Ministry of Power (MoP) has designated Shashank Misra, the Joint Secretary at MoP, as the Government Nominee Director on the Board of REC Limited, effective immediately.
Shashank Misra, a distinguished member of the Indian Administrative Service (IAS) from the 2007 batch in the Madhya Pradesh cadre, brings a wealth of experience to his new role. Before his tenure with the Ministry of Power, Misra had undertaken significant responsibilities within the Government of India, including contributions to the Department of Revenue in the Ministry of Finance. His leadership also extended to pivotal roles such as the Managing Director of Madhya Pradesh Road Development Corporation Limited, Madhya Pradesh Building Development Corporation Limited, and Madhya Pradesh State Asset Management Company Limited. Additionally, he had been entrusted with the chairmanship of Ujjain Smart City Limited and served as the CEO of Madhya Pradesh Rural Road Development Authority.
The appointment of Shashank Misra as the Government Nominee Director for REC Limited received the green light from the Company’s Board of Directors. This decision emerged from the recommendation of the Nomination and Remuneration Committee and was formally ratified through a circulation resolution adopted on August 23, 2023. The resolution is subject to the endorsement of shareholders and is set to be presented as an Ordinary Resolution under Item No. 10 on the agenda of the upcoming 54th Annual General Meeting (AGM) of REC Limited. The AGM, scheduled for Wednesday, September 6, 2023, will be conducted through Video Conferencing/Other Audio Visual Means.
REC Limited, in light of these developments, aims to secure shareholder approval for Shashank Misra’s appointment as the Government Nominee Director. The proposed Ordinary Resolution, delineated in the Addendum to the AGM notice, seeks to finalize this pivotal appointment and further strengthen the leadership of the company.
