Suzlon Energy has enlisted Khaitan & Company to conduct a review of its corporate governance practices, according to an announcement made to stock exchanges on June 13. The decision comes in the wake of the resignation of Marc Desaedeleer, an independent director who stepped down on June 8, citing concerns related to compliance and transparency, allegations that Suzlon has refuted.
Gautam Doshi, Chairman of Suzlon's Audit Committee, will lead the assessment of the company's governance protocols. Suzlon indicated its readiness to appoint additional advisors as necessary to support this initiative.
In its notification to the exchanges, Suzlon reaffirmed its commitment to upholding the highest standards of corporate governance. The objective of this review is to identify any existing gaps in governance practices and to propose measures for their enhancement.
Following his resignation, Desaedeleer remarked that he had communicated his concerns to Chairman Vinod Tanti and the board, hoping that his feedback would be used constructively.
This move underscores Suzlon's proactive approach to addressing governance concerns and enhancing transparency within the organization. The company remains focused on aligning its practices with industry best practices and regulatory requirements while maintaining stakeholder confidence.
Suzlon Energy continues to navigate governance challenges with a commitment to operational integrity and accountability, aiming to strengthen its governance frameworks in response to evolving expectations and regulatory landscapes.