Home-grown stainless steel maker Jindal Stainless Ltd (JSL) on Tuesday said it has re-appointed Abhyuday Jindal as managing director of the company for a term of five years effective May 1, 2023.

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The appointment is upon the recommendation of the Nomination and Remuneration Committee, subject to the approval of members, the company said in an exchange filing.

Also, the JSL board has approved a special interim dividend of Re 1 per equity share (face value of Rs 2 per equity share) for the financial year 2022-23 upon successful completion of the merger process and consequent listing of new shares of the merged entity, the company informed.

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"Accordingly, the Board has fixed April 26, 2023, as the record date for determining entitlement of members for the purpose of payment of special interim dividend. The payment of special interim dividend warrants will be completed by May 17, 2023," it said.

A Boston University graduate in Economics and Business Management, Jindal has wide-ranging experience in the areas of project management, supply chain systems, and strategic & general management.

He is also the co-chair of FICCI's Steel Committee, vice president of the Indian Chamber of Commerce, and the co-chair of the Advisory Council of the Corrosion Management Division of CII, endeavoring to forge stronger and wider public-private partnerships.

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Jindal started his career with the JSW Group. There, he played a prominent role in the stake acquisition of Ispat Industries and the post-acquisition integration of JSW and Ispat.

He then moved on to the Boston Consulting Group, where he managed project consultancy for diverse industries, including cement, steel, wind turbines, and auto components. Having gained a deep understanding of the industrial manufacturing arena, Jindal entered the Jindal Stainless consortium.

(Edited by : Pradeep John)