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Outcome of meeting of the Board of Directors of the Company held on 8th November, 2019.

The Company has informed BSE that the Board of Directors of the Company at its meeting held on 8th November, 2019, inter alia, has approved

a) Unaudited financial results of the Company for the quarter and nine months ended 30th September, 2019; and

b) On the recommendation of the Nomination and Remuneration Committee, appointed Mr. David McDaniel, as Whole-time Director, designated as “Executive Director – Finance & Control and Chief Financial Officer” with effect from 1st March, 2020, for a term of five years, subject to requisite approvals, in place of Mr. Shobinder Duggal, whose term as Whole-time Director of the Company ends on 31st December, 2019.

Further, the Board of Directors approved continuation of Mr. Shobinder Duggal as the Chief Financial Officer of the Company upto 29th February, 2020.

About Mr. David McDaniel

Mr. McDaniel is a Chartered Management Accountant. He has over 23 years of rich and exhaustive experience in Finance and Control Division and held senior management positions in various markets during his career with Nestlé Group.

Mr. McDaniel is currently the Chief Financial Officer of Nestlé UK & Ireland and has been holding the position since April 2016. Prior to this, Mr. McDaniel has had relevant exposure in Asia, having worked as Division Director Finance & Control of Nestlé Korea, and Head of Finance and Control – Nestlé Indochina. He has also worked in Nestlé China in varied capacities within the Finance and Control function and at Nestlé Headquarters, Vevey, as the Head of Financial Services with the Nestlé Global Business Services organization.