IEX Board Announces Key Management Appointments

Management Indian Power Exchange (IEX) approved the reappointment Satyanarayan Goel as his President and Managing Director for a three-year term beginning on August 10, 2024.

Reasons for reappointment

• Goel extensive knowledge in the energy sector
• Above 40 years of experience
• Hi Succession planning strategy

Details of the date

• The current term of office ends on 9 August 2024 due to age restriction (70 years) under the Companies Act, 2013.
• New semester: Three years from 10 August 2024

New management appointment

Rohit Bajaj Promotion

The Management Board has decided to raise Rohit Bajaj to position Joint Managing Director.

Current Role

• Executive Director (non-board member)
• Responsible for business development, strategy, regulatory affairs and IT

New meeting details

• Position: Co-Managing Director
• Deadline: Three years from 10 August 2024

Plate Extension

Adding an independent director

The IEX Board also approved the appointment Rajeev Gupta How Independent Non-Executive Director.

Meeting details

• Position: Independent director not being a member of the board
• Effective date: August 10, 2024

The importance of nominations

These appointments reflect IEX’s commitment to:

1. Ensuring continuity of leadership
2. Recognizing inner talent
3. Strengthening corporate governance

About Indian Power Exchange (IEX)

IEX is India’s leading power exchange, offering a nationwide automated trading platform for physical delivery of electricity, Renewable Energy Certificates and Energy Savings Certificates.