Rane Engine Valve Limited announced at the meeting of the board of directors of the company held on March 19, 2024, Mr. L Ganesh informed that he is retiring as chairman of the board, effective from close of business hours on March 31, 2024 and he will continue to serve on the Board, as a Non-Executive Director. The board of directors considered the decision of Mr. L Ganesh and accepted his retirement as Chairman. Thereafter the board, appointed Mr. Harish Lakshman as Chairman of the board, effective from April 1, 2024.

Further, with effect from April 01,2024, Corporate Social Responsibility (CSR) Committee has been re-constituted by the Board of Directors, with Mr. Harish Lakshman as Chairman and Mr. L Ganesh as a Member. Mr. L Ganesh is a member of the Institute of Chartered Accountants of India (ICAI) and has MBA from Pennsylvania State University. He is the Chairman of the Rane Group of Companies.

He has over 45 years of industrial experience. As Chairman, he played significant role in expanding the customer base, enhancing the global presence, driving the operational efficiencies and strengthening the leadership position in the industry. He pioneered the TQM movement and three of its businesses won the coveted Deming Grand Prize under his leadership.

He was conferred with the prestigious Deming Award in recognition of his outstanding contribution to the dissemination and promotion (overseas) of TQM in 2022. Mr. L Ganesh is not related to any other Director on the Board. Mr. Harish Lakshman holds Bachelor's degree in Mechanical Engineering from BITS, Pilani, and Master's degree in Business from Krannert School of Management at Purdue University, USA.

He joined the Rane Group in 1998 and held different positions in the areas of Marketing, Operations and Export Business Development. Prior to joining Rane Group, he worked with TRW Automotive Inc. in the US for 2 years. He has been instrumental in expanding group's product portfolio and establishing international presence.

He is currently spearheading the Group's initiative to achieve accelerated profitable growth. He played a key role as President of Automotive Component Manufacturers Association of India (ACMA) for the period 2013-14. He was identified and recognized by Economic Times as one among the top 40 under forty India's Business Leaders in 2014.

Mr. Harish Lakshman is not related to any other Director on the Board.