After Sanjay Kapur's death, company takes BIG decision, starts preparations to double…, appoints new…
Auto parts manufacturer Sona Comstar plans to diversify its operations after rising geopolitical tensions in the West and wants to double its revenue share from markets like Japan, China, and India to 50%. To reduce risks associated with Western geopolitical tensions, Sona Comstar is strategically diversifying its operations, targeting a 50:50 revenue split between Eastern and Western markets.
The company is focused on doubling its revenue from markets like Japan, China, and India. Sona Comstar Appointed New Chairperson
Auto component company Sona Comstar on Monday appointed Jeffrey Mark Overly as the new Chairperson, days after the untimely demise of Sunjay Kapur.
Jeffrey Mark Overly, is an Independent Director of the Company, since February 12, 2021 and his re-appointment as the Independent Director is approved by the Board in their meeting held on April 30, 2025, for the second term of 5 consecutive years, till 11th February, 2031, which is subject to approval of shareholder in the ensuing AGM of the Company.
'Overly has been on the board of the Company for almost 5 years now and has an excellent attendance record all (100 per cent) the Board and Committees meetings held during his tenure, contributing significantly to the deliberations and decision making of the Board and its committees, despite being in a different time zone,' the company informed stock exchanges. Sunjay Kapur As Chairman Emeritus
Further, in recognition of his unparalleled contributions and enduring impact, the Board of Directors unanimously designated Late Sunjay Kapur as Chairman Emeritus of the Company.
The Board of Directors, on the recommendation of the Nomination and Remuneration Committee (NRC), also approved the appointment of Priya Sachdev Kapur — Sunjay Kapur's wife — as an Additional Non-Executive Director of the Company, subject to approval of the shareholders of the Company.
The Board expressed grief over the untimely passing of Sunjay Kapur, Non Executive Chairman.
'The visionary leadership, unwavering commitment and exemplary guidance of Mr Kapur has left an indelible mark on the Board and Company. Throughout his tenure, Mr Kapur was instrumental in steering the Company through significant milestones. His strategic insights and ethical values served as the foundation of corporate governance and set the course for sustained growth and innovation for the Company,' the company noted.
(With Inputs From ANI)
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