Dhaka:The Bangladesh Securities and Exchange Commission (BSEC) has approved the formation of new seven-member boards of directors for Bangladesh Export Import Company PLC (Beximco) and Shinepukur Ceramics PLC.
According to Bangladesh Sangbad Sangstha, the decision was made during the 1,032nd commission meeting held on October 6, chaired by BSEC Chairman Masud Khan. The approval follows oral directions from the court and takes into account the interests of investors.
ASF Rahman will serve as chairman of both companies. For Shinepukur Ceramics, the board will include sponsor group nominees OK Chowdhury, Iqbal Ahmed, Azmal Kabir, and Kaomrun Nahar Ahmed as directors. Two additional independent directors are to be appointed as per the Corporate Governance Code, 2018.
For Beximco, the board will also feature OK Chowdhury as managing director, with Iqbal Ahmed, Azmal Kabir, and Kaomrun Nahar Ahmed as directors. Shah Manzurul Haq is appointed as an independent director, with another independent director to be added according to the governance code.
The BSEC also announced the withdrawal of two previous orders concerning the companies, contingent upon the withdrawal of their respective legal cases.