ICDS Limited announced that Mr. Govindaraya Raman Nayak, Chief Financial Officer will be retiring from the services of the Company with effect from July 31,2023 on attaining the age of superannuation. Accordingly, Mr. Govindaraya Raman Nayak will cease to be Chief Financial Officer of the Company with effect from close of business hours on July 31, 2023. Consequent to the above retirement and based on the recommendation of the Nomination and Remuneration Committee (NRC) and approval of the Audit Committee, the Board of Directors of the Company at its meeting held on July 04, 2023, has appointed Mr. Vasudeva Nayak, as Chief Financial Officer and as key Managerial Personnel of the Company effective August 1, Mr. Vasudeva Nayak is currently working as Assistant General Manager and would take over from Mr. Govindaraya Raman Nayak effective August 1,2023, and be designated as Assistant General Manager and Chief Financial Officer.

Mr. Vasudeva Nayak aged about 56 years has been associated with the Company for more than 30 years. He is a B.Com graduate by qualification has worked in Finance and Accounts division of the Company and has a vast knowledge of financial management and accounting.