CG Power & Industrial Solutions has informed that on recommendation of the Nomination and Remuneration Committee of the Company, the Board of Directors of the Company have at its meeting held on August 30, 2019 terminated the employment of V. R. Venkatesh as the Chief Financial Officer of the Company, for cause, with immediate effect. The termination of the employment of Venkatesh is due to the grave nature of the misconduct and breach of trust on his part and having knowingly undertaken actions which were detrimental to the interests of the Company and its stakeholders.
The above information is a part of company’s filings submitted to BSE.
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