The company said executive chairperson Vishad Mafatlal will steer the operations till it finds a replacement for Welling. While maintaining its 'overweight' rating on the stock with a target price of ₹4,951, Morgan Stanley said it has "taken note of this high attrition in top management" and expects to hear more from the company on plans to tackle the same.
The board approved the appointment of Sudhir Deo as an additional director with effect from September 28, following the recommendation of the nomination and remuneration committee.
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