Quess Corp Limited has appointed Lohit Bhatia as Whole-time Director, designated as Executive Director and Group Chief Executive Officer, with effect from June 1, 2026. According to reports from CNBC TV18, the appointment was approved by the Board on March 16, 2026, based on the recommendation of the Nomination and Remuneration Committee and is subject to shareholders' approval. Bhatia will serve a three-year term and continue as Key Managerial Personnel, with the company confirming he is not debarred from holding the office of Director by any regulatory authority. Bhatia brings over 28 years of experience and was instrumental in scaling the Staffing business to India's No. 1 position.
The Board also noted the resignation of Guruprasad Srinivasan from the position of Executive Director with effect from the close of business hours on May 31, 2026. As reported by CNBC TV18, the company will continue to engage his services in a strategic consultancy and advisory role aligned with his expertise, ensuring continuity in leadership transition. The resignation comes after 18 years of service with the company, demonstrating Srinivasan's significant contribution to Quess Corp's growth trajectory.
The Board approved the introduction of the Quess Stock Ownership Plan 2026 (QSOP 2026) and amendments to the existing QSOP 2020, subject to shareholders' approval. According to the report, QSOP 2026 provides for 52,50,000 performance-oriented Restricted Stock Units (RSUs), exercisable into equivalent equity shares, with the aggregate options under the plan not exceeding 3.52% of the company's share capital. The plan will be administered through the 'Quess Corp Limited Employees Welfare Trust' and is formulated to grant up to 52,50,000 performance-oriented RSUs to eligible employees of the Company and its subsidiaries/associates.
Out of 36,50,000 RSUs under QSOP 2020, 18,27,032 RSUs have already been allocated, as reported by CNBC TV18. The Board approved reducing the total RSUs under QSOP 2020 to 18,27,032 and redeploying the balance 18,22,968 RSUs to QSOP 2026. The existing ungranted RSUs equivalent to 1.22% of paid-up capital will be redeployed, resulting in a maximum additional dilution of 2.3% under the new plan. Vesting will be based on both Company performance (including achievement of Revenue, EBITDA, and Operating Cash Flow) and individual employee performance.
On the NSE, Quess Corp Limited shares closed at ₹175.19, down ₹6.53 or 3.59%, after ending at ₹175.95, down ₹5.77 or 3.18%, according to CNBC TV18. The market reaction reflects investor response to the leadership transition and corporate governance changes announced by the company. The formulation and implementation of QSOP 2026 are subject to the approval of the shareholders via a Postal Ballot.
