Avenue Supermarts has announced significant changes to its leadership structure. Mr. Chandrashekhar Bhave will be stepping down as Chairman effective March 31, 2026. Furthermore, Ms. Kalpana Unadkat has been appointed as an Independent Director starting March 14, 2026. Ms. Unadkat brings extensive experience in corporate governance and law, having worked in international law firms. The Board confirmed the approval of these changes following its meeting on March 14, 2026.
Key Board Appointments and Cessations Confirmed
Avenue Supermarts Limited has formally notified the stock exchanges regarding important changes in its Board of Directors, effective in March and April 2026. The Board of Directors, in its meeting held on March 14, 2026, approved the appointment of a new Independent Director and accepted the resignation of the current Chairman.
Cessation of Chairman and Director Term End
The announcement detailed the following changes regarding Mr. Chandrashekhar Bhave:
- He will cease to hold the position of Chairman of the Company effective from the close of business hours on March 31, 2026.
- His second term as an Independent Director is scheduled to conclude on May 16, 2026.
- The effective date of cessation from the Chairman role is set as March 31, 2026.
There are no specific details provided regarding the profile or directorship relationships for Mr. Bhave’s cessation.
Appointment of New Independent Director: Ms. Kalpana Unadkat
The Board approved the appointment of Ms. Kalpana Unadkat as an Independent Director, effective from March 14, 2026. Her initial term will conclude on April 1, 2026, pending formal shareholder ratification.
Profile Highlights of Ms. Unadkat
Ms. Unadkat possesses over twenty-five years of experience spanning corporate law, governance, and cross-border M&A transactions. Her background includes serving as a Senior Partner at a prominent international law firm based in London, where she specialized in advising global corporations on cross-border M&A and strategic joint ventures.
Her expertise is noted in:
- Drawing upon extensive experience in complex legal frameworks and governance.
- Providing thoughtful guidance on matters related to long-term strategy, risk oversight, and sound governance.
- Her recognition as an authority on corporate governance, fostering open dialogue, balanced deliberation, and strong board engagement.
The disclosure confirms that Ms. Unadkat is not related to any of the current Directors of the company.
Source: BSE
