ACC Limited announced that pursuant To Approve the Board of Directors at its Meeting held on February 20, 2020: Mr. Neeraj Akhoury, Managing Director & Chief Executive Officer of the Company has tendered his resignation from the post of MD & CEO with effect from close of business hours of February 20, 2020 to pursue other career opportunities. However, Mr. Akhoury will continue on the Board of the Company as a Non-Executive Non- Independent Director. Mr. Christof W. Hassig has tendered his resignation from the directorship of the Company with immediate effect, i.e. February 20, 2020 due to his pre-occupation in LH Group and also due to his other personal commitments.

Based on the recommendation of the Nomination and Remuneration Committee and given the demonstrated track record of Mr. Sridhar Balakrishnan, Chief Commercial Officer of the Company has been appointed as an Additional Director on the Board of the Company with immediate effect, i.e. February 20, 2020. The brief profile of Mr. B. Sridhar is enclosed herewith. In view of the Mr. Akhoury's resignation from the post of MD&CEO, the Board of Directors has appointed Mr. Sridhar as the Managing Director & Chief Executive Officer of the Company for the period of 5 years with effect from February 21, 2020.

The appointment of Mr. Sridhar will be subject to the approval of shareholders at the ensuing Annual General Meeting of the Company.