Nalco reappoints five independent directors on board
New Delhi: State-owned Nalco Wednesday announced that it has reappointed five independent directors on its board.
Ministry of Mines has "reappointed ....five part-time non-official (independent) directors on the board of Nalco for a period of one year from the date of completion of their existing tenure i e 20.11.2018 or until further orders, whichever is earlier," Nalco said in a BSE filing.
The five independent directors are Dipankar Mahanta, S Sankararaman, P K Nayak, Damodar Acharya, and Maheswar Sahu.
With the move, the total number of independent directors of the company's board has increased to eight.
These independent directors were appointed on the board for a period of three years in November 2015.
"On completion of the tenure of all five independent directors on November 20, 2018, they...ceased to be the independent Directors of NALCO's Board," the filing said.
National Aluminium Company (NALCO) is one of the largest integrated bauxite-alumina-aluminium-power complex in the country.