From Hindustan Unilever to RIL, top corporates gear up to split CMD post

Large corporates like HUL and RIL have started making arrangements to comply with regulator Sebi's directive to split the roles of chairman and managing director by April 1, 2020, but several smaller companies are still giving their CMDs tenures beyond the deadline.

As the season of AGMs continues, many companies have sought shareholders' approval for extending tenure of their CMDs, which in several cases will fall foul of Sebi's guidelines for the top 500 listed companies in the country to have a non-executive chairman and a separate person as CEO or Managing Director from April, 2020.

According to officials, Sebi