TeamLease Services Limited announced the retirement of Mr. Zarir Batliwala as an Independent Director on the Board, effective March 28, 2024, upon completion of his tenure. Mr. Batliwala was appointed to the TeamLease Board as an Independent Director in 2019. He also served as the Chairman of the Nomination & Remuneration Committee, as a Member of the Risk Management Committee and Stakeholders' Relationship Committees of the Board.

Mr. Zarir Batliwala shall attain the age of seventy-five years on October 29, 2024. Pursuant to Regulation 17 (1A) of SEBI LODR Regulations, 2015, he shall cease to be an Independent Director on completion of his first term with effect from the end of business hours on March 28, 2024, unless a Special Resolution has been passed by the Company in this regard. Mr. Batliwala has expressed his intent to not proceed with his re-appointment as an Independent Director for the second term owing to Regulation 17 (1A), in alignment with good governance practices followed and promoted by TeamLease.