What is Reliance Industries Shareholder Vote Results and Outcome?
Reliance Industries recently held a shareholder vote to reappoint Yasir Othman H Al-Rumayyan, the Chairman of Saudi Aramco, as an independent director on the company’s board for the next five years. While the majority of shareholders approved the proposal, over 16% voted against it.
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In addition to Al-Rumayyan’s reappointment, shareholders also approved the appointment of Haigreve Khaitan as an independent director and the reappointment of P M S Prasad as a director for another five years. The vote for Al-Rumayyan’s reappointment showed that 83.97% were in favor, while 16.02% opposed.
Al-Rumayyan, who leads Saudi Arabia’s Public Investment Fund, has been on Reliance’s board since 2021 and will continue in this role until July 18, 2029. Khaitan, a partner at Khaitan & Co, was appointed as an independent director for a five-year term starting April 1, 2024. Although the majority of shareholders approved his appointment, nearly 13% voted against it.
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Overall, 87.15% of shareholders voted in favor of Khaitan’s appointment. Despite the opposition from some shareholders, both Al-Rumayyan and Khaitan will continue to serve on Reliance’s board in the coming years. What is Reliance Industries Shareholder Vote Results and Outcome?
