Blue Dart Express Ltd submitted a regulatory disclosure to BSE Limited and National Stock Exchange of India Ltd regarding management changes, pursuant to Regulation 30 of SEBI Listing Regulations.

Key Events and Approvals

The Nomination & Remuneration Committee (NRC), Audit Committee, and Board of Directors met on Tuesday, September 15, 2026 and approved the following:

Resignation of Current Managing Director:

  • Mr. Balfour Manuel (DIN: 08416666), Managing Director, requested early superannuation via letter dated September 15, 2026
  • Effective date: Close of business hours on November 29, 2026
  • Reason: To enable smooth and seamless succession in favor of incumbent candidate and due to certain personal commitments
  • The NRC and Board approved waiver of the 6-month notice period applicable to Mr. Manuel
  • Mr. Manuel will serve as Senior Strategic Advisor to the Managing Director until May 15, 2027
  • Mr. Manuel confirmed no material reasons for resignation other than those stated

Appointment of New Managing Director:

  • Mr. R.S. Subramanian (DIN: 02946608) appointed as Managing Director
  • Term: From November 30, 2026 till May 25, 2030
  • Appointment subject to approval of shareholders and other statutory approvals
  • Effective date: November 30, 2026

Profile of New Managing Director

Mr. R.S. Subramanian (aged 61) brings extensive experience:

  • Currently SVP for South Asia and Managing Director of DHL Express India
  • Member of DHL Express Asia Pacific Management Board
  • Over 30 years of experience in product-led and service industries
  • Expertise in business strategy, marketing, team development and customer management
  • Career history:
  • Joined DHL Express India as Head of Sales
  • Promoted to Vice President, South Asia Cluster (RoSA), managing operations in Pakistan, Bangladesh, Sri Lanka, Nepal, Maldives and Bhutan
  • Appointed Managing Director of DHL Express India in 2010
  • Previously spent 14 years at Hindustan Unilever Ltd in sales, marketing and export management roles
  • Educational qualifications:
  • Graduate in Industrial Engineering
  • Master's in Management from IIM Bangalore
  • Gold Certified in First Choice (DHL Group's internal quality program based on Six Sigma DMAIC methodology)
  • Other positions:
  • Vice Chairman of Express Industry Council of India (EICI)
  • Member of Advisory Council of Indo-German Chamber of Commerce (IGCC)
  • First appointed to Blue Dart Board on March 27, 2019
  • Currently Non-Executive Director on Blue Dart Board

Documents Submitted

  • Annexure 1: Information regarding the change
  • Annexure 2: Copy of letter dated September 15, 2026 from Mr. Balfour Manuel
  • Annexure A: Detailed disclosure pursuant to Regulation 30

Financial Impact

No financial impact quantified in the disclosure.