Press Release

Singapore

• Chairman Lim Ah Doo, Co-Founder, Executive Director and Group CEO Sunny Verghese to step down from Olam Group Limited on conclusion of its 5^th AGM on April 27, 2026

• Deputy Chairman Yap Chee Keong will assume role as Chairman

• Board plans to appoint a Lead Independent Director, with the search for another independent director underway

• ofi CEO Shekhar Anantharaman to be appointed as Executive Director on the Board

• Management changes, new management structure and executive appointments to support operating groups and execution of Re-organisation Plan

  • Group CFO N. Muthukumar to step down at the conclusion of the 5^th AGM

  • Venkataraman Krishnan to be appointed as new Group CFO on the same day 

  • Gautam Wadhwa to be appointed as CEO of OGH¹  on April 20, 2026

Olam Group Limited (“Olam Group” or “OGL”) has published its 2025 Annual Report entitled “From Vision to Value”, which comprises three comprehensive components – Strategic Report, Governance Report and Financial Report – and highlights its improved financial performance, achievements made in its continuing operations and in the Updated 2025 Re-organisation Plan as well as future plans for the Group.

The Group also announces several Board and management changes and its plans for leadership renewal as it continues to execute its 2025 Updated Re-organisation Plan. 

A new chapter of leadership

Board renewal

Olam Group Chairman, Non-Executive and Independent Director, Mr Lim Ah Doo, will step down at the end of the Group’s Fifth Annual General Meeting (5^th AGM) on April 27, 2026, after having completed his nine-year tenure as an Independent Director. Mr Yap Chee Keong, Deputy Chairman and Chair of the Board Executive Committee (Board ExCo) and the Board Risk Committee, will take over as Chairman to ensure continuity as the Group executes its Re-organisation Plan.

Co-Founder, Executive Director and Group CEO Mr Sunny Verghese will also step down from OGL at the conclusion of the 5^th AGM. 

Following the conclusion of the 5^th AGM, the Board will appoint a Lead Independent Director from its existing bench of Independent Directors, and CEO of ofi Mr Shekhar Anantharaman (A. Shekhar) as Executive Director of Olam Group.

In line with the Group’s Board Diversity Policy, the Board Nomination & Remuneration Committee will target to identify and appoint a suitable and qualified female candidate to add to the Board’s bench of Independent Directors in the second half of 2026. 

On March 31, 2026, the Board had welcomed Mr Simon Nigel Cooper and Mr Christian Chin as new Independent Non-Executive Directors.

Together, the existing Directors and new Directors to be appointed will bring extensive experience that strengthen the collective wisdom and stewardship of the Board, with Independent Directors making up a majority of the renewed Board. This reflects the Board’s commitment to strengthening its corporate governance and transparency standards as the Group advances its Re-organisation Plan.  

Management transition

As the sale of Olam Agri to SALIC progresses, the Group will also proceed with its planned management transition to better reflect the Group’s focus on its continuing businesses – ofi and OGH.

At the end of the Group’s 5^th AGM, Mr Sunny Verghese will step down as Group CEO of OGL as part of this planned leadership transition. He will continue to focus on his role as CEO of Olam Agri. 

Similarly, Group CFO Mr N. Muthukumar will step down on April 27 and will continue to focus on his role as COO of Olam Agri which he assumed since March 2025. 

The Group will appoint Mr Venkataraman Krishnan as its new Group CFO, who will be responsible for overseeing the overall financial strategy and management functions, including accounting, treasury, tax, compliance and investor relations of the Group. 

Mr Krishnan will be joined by Mr Joydeep Bose, Group Chief Human Resources Officer, and Mr Rajeev Kadam, Global Head, Risk Management, Internal Audit and Insurance – each a long-serving member of the Group’s senior executive team – to constitute the Group’s Corporate Office. 

The Group will also appoint Mr Gautam Wadhwa as CEO of OGH, who will be primarily responsible for the successful monetisation and divestments of the assets and businesses in OGH. Gautam is a senior transformation and value-creation leader with over two decades of experience spanning consulting, investing, operations and entrepreneurship. His career has been defined by leading complex change mandates – working across multiple ownership models and geographies to stabilise, transform and ultimately reposition businesses for long-term value or exit. 

ofi will continue to be led by its CEO Mr A. Shekhar.

Mr A. Shekhar continues to report to the ofi Board whilst the Corporate Office and Mr Wadhwa will report directly to the Board Exco.

The Board ExCo will continue to support the Group’s leadership team, ensuring continuity and stability during this transition as it executes the Re-organisation Plan.   

Olam Group Chairman, Non-Executive and Independent Director, Mr Lim Ah Doo, said: “The Group embarks on a new chapter of leadership from a position of strength, underpinned by strong foundations built through years of disciplined stewardship, giving the renewed Board a stable platform from which to steer the Group confidently into the future.”

“The Board and I express our sincere appreciation to Mr Verghese for his founding of the Group, the many years of dedicated service and for the lasting impact he has had in shaping the Group’s strategy, growth and global footprint.”

Olam Group Co-Founder and CEO, Sunny Verghese, said: “The past year marked a defining milestone in our Re-organisation journey as we took decisive steps to improve the performance of our underlying operating groups, strengthen the Group’s balance sheet, enhance their resilience and unlock value for our shareholders.”

“It has been an honour to co-found and lead OGL for the last 37 years and I am filled with immense gratitude, pride and satisfaction reflecting on our journey together in successfully building OGL into a respected, global market leader with significant positive impact in our industry.”

Mr Verghese, who is also CEO of Olam Agri, added: “As I transition from my role as Co-Founder, Executive Director and Group Chief Executive, I will continue to focus along with my leadership team on the next chapter of profitable growth and value creation for Olam Agri.”  

Olam Group Deputy Chairman, Non-Independent & Non-Executive Director, Mr Yap Chee Keong, said: “Together with the refreshed leadership team, we will carry the Group forward into its next phase of development, where our strategy stays unchanged. We remain committed to execute the Re-organisation Plan responsibly and I am confident in our ability to crystallise value for our shareholders.”