The Bangladesh Securities and Exchange Commission (BSEC) has appointed independent directors to Beximco Ltd, Beximco Pharmaceuticals, and Shinepukur Ceramics following a directive from the Financial Institutions Division (FID) under the finance ministry.
A total of 25 independent directors have been appointed to the companies for a three-year tenure, according to a press release issued on Wednesday.
Earlier, the FID instructed the BSEC to appoint independent directors to the Beximco companies based on a decision by the advisory council committee formed by the government to handle Beximco issues.
The decision was made during a meeting of the committee last month that focused on labour and business conditions at Beximco Industrial Park.
Following the arrest of Beximco Group Vice Chairman Salman F Rahman, the companies faced significant challenges, including labour unrest that got spread onto the streets.
In response, the government decided to appoint independent directors from diverse professional backgrounds.
The BSEC hopes that the inclusion of independent directors will benefit stock market investors associated with these companies.
