Chidambaram Balakrishnan Replaces Douglas J. Bailey As Global CEO Of Hirect; Anil Nemani Appointed As CFO

Chidambaram Balakrishnan has been appointed as the Global Chief Executive Officer and Senior Management Personnel (GCEO & SMP) of Hirect Limited (formerly known as Hind Rectifiers Limited) and its subsidiaries (present and future) with immediate effect. He replaces Douglas J. Bailey, who has resigned due to personal reasons, effective August 11, 2026.

Further, Anil Kumar Nemani has been appointed as the Chief Financial Officer, Executive Director, and Whole-Time Director of the Company for a period of three (3) years, effective August 11, 2026, subject to shareholders’ approval.

In addition, Rahul Rai has been appointed as a Non-Executive Independent Director (Additional Director) of the Company for his first term of five (5) years commencing from August 11, 2026, subject to shareholders’ approval.

Chidambaram Balakrishnan has held leadership positions, including Managing Director (MD) at Caterpillar Rail and Regional Director for South Asia at GE Transportation. His experience spans business transformation, market development and building customer and partner networks. Balakrishnan has also contributed to industry bodies, serving as Chairman of the Confederation of Indian Industry’s Railway Division and Chairman of the American Chamber of Commerce in India’s Infrastructure Division. He has worked on identifying new business opportunities, developing strategic partnerships and expanding operations across markets. His career reflects experience in the rail, transportation and infrastructure sectors, with a focus on business development, growth strategy and industry engagement.

Anil Kumar Nemani is associated with Coincade Studios Pvt. Ltd., a wholly owned subsidiary of Hirect. He is a Chartered Accountant and Cost & Management Accountant with over 42 years of experience in accounts and finance. He has been associated with the Company since 1992 and oversees accounting, budgeting, financial reporting, taxation and audit functions. His responsibilities also include financial strategy, planning, forecasting, investments and fundraising. He analyses financial trends and identifies opportunities for business expansion and future growth. Nemani manages the company’s finance functions and supports financial planning and business decisions.

Rahul Rai is the Founder and Promoter of JHP Global Logistics. He has held senior roles including Global Chief Commercial Officer (GCCO) and Regional CEO for the Middle East and Africa at ECU Worldwide, and Business CEO of the Projects & Engineering Division at Allcargo Logistics. He currently serves as a Director at Glowone Consulting Pvt. Ltd. and JHP Global Logistics Pvt. Ltd. He is a strategic growth leader with over 20 years of global experience in executive leadership, entrepreneurship, and business transformation. An alumnus of the Indian Institute of Technology (BHU), Varanasi, he has also completed Executive Education from the Indian Institute of Management, Ahmedabad. Rai has led commercial strategy, P&L improvement, international expansion, and business transformation across more than 100 countries.

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