Tirupati Graphite PLC (LSE:TGR, OTCQX:TGRHF), the mining company, confirmed its non-executive director and co-founder Hemant Poddar will be stepping down from his role with immediate effect.
Poddar will make the move away from the flake graphite company to concentrate on his other business venture.
Shishir Poddar, Tirupati’s executive chairman, said: "On behalf of the board, we would like to thank Hemant for his contributions to the company's evolution being a co-founder and member on the board since our inception. We wish him well on his future endeavours."
Hemant Poddar's departure comes as the group looks to bolster its governance framework, having previously welcomed Isabel de Salis and Murat Dogan Erden to the board as non-executive directors last year.
Following a comprehensive review of the company's corporate governance policies, several reforms to the board have been made, including the creation of a sustainability committee.
The committee, which is constituted of three board members, will focus on group goals such as achieving net-zero emissions by the decade's end.
Going forward, Tirupati said it would be looking to grow the board when appropriate, keeping the current performance of the board under review.
Tirupati Graphite was marked close to 2% lower in early trading on Monday.