CMI FPE Ltd: Outcome of Board Meeting

CMI FPE Ltd has informed BSE that at the meeting of the Board of Directors of the Company held on May 24, 2011, Mr. Jean-Marc Kohlgruber, the Chairman of the Company, announced that Mr. Raman Madhok, Managing Director of the Company has tendered his resignation as Managing Director and Director of the Company effective from the close of working hours on August 23, 2011.

Further, the Board of Directors of the Company at the said meeting, inter alia, has also considered and approved the following:

1. Re-designation of Mr. Jean Gourp as the Managing Director of the Company and revision of remuneration for a period effective from August 24, 2011 upto May 19, 2015, pursuant to the approval of the Remuneration Committee of the Board and subject to the approval of the Members to be obtained at the forthcoming Annual General Meeting (ACM) of the Company.

Mr. Jean Gourp is presently Deputy Managing Director of the Company and he will take over the charge as Managing Director w.e.f. August 24, 2011.

2. Appointment of Mr. Sanjay Kumar Mutha as the Company Secretary and Compliance Officer of the Company with effect from May 24, 2011.