BSEC reconstitutes Beximco, Shinepukur boards, excludes Salman F Rahman

The Bangladesh Securities and Exchange Commission (BSEC) has approved the reconstitution of the boards of directors of Bangladesh Export Import Company (Beximco) PLC and Shinepukur Ceramics PLC, leaving Salman F Rahman off both boards.

The decision comes after the capital market regulator recently approved the reconstitution of the board of Beximco Pharmaceuticals PLC, also excluding Salman F Rahman.

The BSEC approved the proposed seven-member boards of the two listed companies at its 1,032nd commission meeting held on Tuesday, considering the interests of investors and other relevant matters, according to a statement issued by the regulator on Wednesday.

The meeting was chaired by BSEC Chairman Masud Khan.

For Shinepukur Ceramics, the commission gave its no-objection to the proposed seven-member board, with ASF Rahman as chairman.

Osman Kaiser (OK) Chowdhury, Iqbal Ahmed, Azmal Kabir and Quamrun Nahar Ahmed have been proposed as directors.

Two independent directors will also be appointed in accordance with the Corporate Governance Code, 2018.

For Beximco PLC, ASF Rahman has also been proposed as chairman, while OK Chowdhury has been proposed as managing director.

Iqbal Ahmed, Azmal Kabir and Quamrun Nahar Ahmed will serve as directors.

Salman F Rahman is not included in either of the proposed boards.