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Salman F Rahman has been removed from the boards of directors of Beximco Ltd and Shinepukur Ceramics PLC, following his exclusion from the board of Beximco Pharmaceuticals last month.
The Bangladesh Securities and Exchange Commission (BSEC) approved the proposed seven-member boards of the two companies at its 1,032nd commission meeting on Wednesday, considering the interests of investors and other relevant matters.
Under the new structure, ASF Rahman will serve as chairman of both companies. Osman Kaiser Chowdhury will be managing director of Beximco Ltd, while Iqbal Ahmed, Azmal Kabir and Quamrun Nahar Ahmed will serve as directors.
The boards will also include independent directors in line with the Corporate Governance Code 2018.
Salman F Rahman’s name does not appear on either of the newly approved boards.
Salman, vice-chairman of the Beximco Group, had also been a director of Beximco Pharmaceuticals.
The BSEC approved a new nine-member board for the pharmaceutical company on September 29, excluding him.
With the latest move, Salman has now been removed from the boards of Beximco Group’s three major listed companies — Beximco Ltd, Beximco Pharmaceuticals and Shinepukur Ceramics.
Salman’s elder brother, Sohel F Rahman, will continue as chairman of Beximco Ltd and Shinepukur Ceramics.
Salman F Rahman was arrested in August 2024 following the political change in Bangladesh and is currently in prison.
