10 February 2012
ours is listed company. We comply clause 49 of LIsting Agreement.
our Chairman is Non-Executive and also promoter of the Company.
Then we have 3 Whole-Time Directors (i.e. Vice-Chairman, Managing ditector and whole time director) and 4 Independent Directors. Total we have 8 Directors of the Company.
If Chairman resign and we will not appointed Chairman of the Company, then what would be composition of Board ?
10 February 2012
Chairman is needed only in meeting. Hence if chairman resigns, it will not affect anything at all.
At BoD meeting, if chairman is not present within 5 minutes, or where chairman is not present then directors present can appoint one of them to be chairman.
Clause 49 requires only that whether chairman is executive or non-executive, hence its better than you should appoint an independent director to be next chairman.
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