JSW Energy Limited announced that Board of Directors, at its meeting held on December 1, 2023, based on the recommendation of the Compensation & Nomination and Remuneration Committee, has approved the appointment of Mr. Sharad Mahendra as a Whole-time Director (Joint Managing Director)of the Company with effect from 1st December, 2023. As stated earlier, Mr. Prashant Jain will continue to serve in his current position till 31st January, 2024, to support an orderly transition. Accordingly, Mr. Mahendra shall be the Joint Managing Director and a Key Managerial Person of the Company with effect from 1st February, 2024.

Mr. Sharad Mahendra, aged 57 years, has completed his B. E. in Mechanical Engineering from NIT, Allahabad and brings with him 33 years of rich experience in organizational strategy, driving business growth, execution, sales and marketing, and people development across steel, power, chemicals as well as automobile sectors. He has worked with the JSW Group for 15 years. Immediately prior to this appointment, Mr. Mahendra was the CEO of JSW Steel Coated Products Limited (a 100% subsidiary of JSW Steel Limited).

His term was marked by successful project execution to expand capacities organically, as well as acquisition and integration of two assets. The business witnessed a sharp volume growth as well as market share gains under his leadership. Earlier, Mr. Mahendra had joined JSW Energy Limited as the Chief Operating Officer (Energy Business) in 2017 where he led the power sales, mining, corporate commercial, legal, coal procurement, regulatory and corporate affairs functions.

In 2019 he was appointed as a Whole- time Director of the Company. During this stint with JSW Energy, he was instrumental in ground-breaking of the greenfield Kutehr hydroelectric project as well as various efficiency and performance improvement initiatives across the operating thermal and hydro assets. He was also closely involved in building organizational capability and laying the foundation for the business to diversify into renewable energy.

In 2020, he left JSW Energy to join as CEO of JSW Steel Coated Products Limited. In the past, Mr. Mahendra has been on the Board of APL Apollo Tubes Limited and has worked with Phillips Carbon Black Limited, JSW Steel Limited, Escorts Limited, Yamaha Motors Limited in various capacities. Mr. Mahendra is not debarred from holding the office of Director by virtue of any SEBI Order or any such authority.