Dhaka:The Bangladesh Securities and Exchange Commission (BSEC) has approved the reconstitution of the board of Beximco Pharmaceuticals PLC, which will now consist of nine directors as proposed by the company.
According to United News of Bangladesh, the approval was granted during the commission's 1031st meeting, presided over by BSEC Chairman Masud Khan at the Agargaon office. The decision followed the company's application, taking into account the High Court's oral direction, the opinion of the commission's panel lawyer, and the interests of investors.
The newly structured board will include three sponsor directors ASF Rahman, Osman Kaiser Chowdhury, and Iqbal Ahmed. A new managing director will be appointed, and one director will represent IFIC Bank PLC, a local financial institution. Additionally, the board will feature four independent directors, three of whom will be newly appointed, including one woman, in compliance with the Corporate Governance Code, 2018.