Quess Corp Ltd has appointed Lohit Bhatia as Whole-time Director, designated as Executive Director and Group Chief Executive Officer, with effect from June 1, 2026. The disclosure was made through a regulatory filing dated 16 March 2026.
The decision was approved by the company’s board at its meeting held on March 16, 2026, following the recommendation of the Nomination and Remuneration Committee. The appointment is for a term of 3 years and will require approval from shareholders.
The company stated that Bhatia will continue to serve as Key Managerial Personnel. It also confirmed that he is not debarred from holding the Office of Director by SEBI or any other regulatory authority.
Bhatia joined Quess Corp in 2011 as General Manager in the staffing division and has held several roles within the organisation since then. He currently serves as the company’s Chief Executive Officer.
According to the company’s disclosure, the staffing business expanded from about 13,000 associates to more than 470,000 during his tenure.
Operations outside India, including those in the Middle East, Singapore and Sri Lanka, now contribute nearly 20% of the company’s EBITDA.
The board also noted the resignation of Guruprasad Srinivasan from the position of Executive Director. His resignation will take effect from the close of business hours on May 31, 2026, after a long association with the company.
Quess Corp said Srinivasan will continue to work with the company in a strategic consultancy and advisory capacity, supporting the management in areas related to his experience.
Separately, the board approved the Quess Stock Ownership Plan 2026 (QSOP 2026), which will be placed before shareholders for approval.
The plan allows for the grant of up to 52,50,000 performance-linked Restricted Stock Units (RSUs) that can be converted into equity shares. The allocation represents 3.52% of the company’s share capital.
The RSUs will vest based on company and employee performance, with parameters including revenue, EBITDA, and operating cash flow. The company plans to implement the scheme through an employee welfare trust set up for administering the plan.
The board also approved changes to the existing QSOP 2020. The earlier plan had provided for 36,50,000 RSUs, out of which 18,27,032 units have already been granted.
The remaining 18,22,968 RSUs will be shifted to QSOP 2026. According to the company, the redeployment of ungranted units may lead to a maximum additional dilution of around 2.3% of the paid-up share capital.
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As of March 17, 2026, 10:33 am, Quess Corp Ltd share price stood at ₹176.00, a 0.46% increase from the previous closing price.
The appointment and the proposed stock ownership plan are subject to shareholders’ approval. Further details are expected to be included in the company’s postal ballot notice.
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Published on: Mar 17, 2026, 12:15 PM IST
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