<ul><li>Naresh Kumar Sethi's appointment as executive chairman of VST Industries failed to get necessary shareholder approval.</li><li>Radhakishan Damani, the second largest shareholder, likely opposed Sethi's appointment.</li><li>The proposal for Sethi's appointment received only 56% of the vote, falling short of the 75% cutoff needed to pass special resolutions.</li><li>BAT had appointed Sethi on the company's board in 2018.</li></ul>

BAT Fails The Damani Test, Nominee Doesn't Get VST Industries' Chair

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