Wipro shareholders reappoint two independent directors – Times of India

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BENGALURU: Wipro shareholders reappointed two of the corporate’s independent directors, Patrick Ennis and Patrick Dupuis, with an amazing majority, although there have been some doubts solid within the run as much as their reappointment by a proxy advisory agency.
The two directors, who’ve been with the IT companies agency for 5 years, bought 99.3% and 99.5% of the entire votes solid respectively, with some naysayers from the general public establishments and non-establishments, in accordance with a regulatory submitting on Sunday.
Ennis is a enterprise associate in Madrona Venture Group, and Dupuis was the chief monetary officer of PayPal Holdings.
Both their phrases got here to finish on March 31, following which Wipro reappointed them and sought shareholders approval for a similar.
Proxy advisory agency Stakeholders Empowerment Services (SES) had raised questions concerning the reappointment again in April and beneficial shareholders to vote towards the proposal saying the reappointment was not in accordance with the regulation.
SES cited a be aware issued by the Institute of Companies Secretaries of India (ICSI) which says that the particular decision for the reappointment of an independent director needs to be taken on the final date of the primary time period, failing which the director can’t be re-appointed by a board as a further director for second time period as he doesn’t possess the eligibility to get reappointed for second time period.
“While, no concern has been identified regarding profile and independence of Patrick Ennis and Patrick Dupuis, however, SES is of the opinion that the re-appointment of both the directors is not in accordance with the law. Power to re-appoint IDs rests with the shareholders, and the board cannot re-appoint them,” an SES be aware mentioned.



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