Bangladesh, Sept. 30 -- The securities regulator has decided to allow Beximco Pharmaceuticals to overhaul its board with nine members proposed by the company, subject to the withdrawal of cases filed challenging the appointment of independent directors across the listed companies of the conglomerate.

The proposed board structure excludes the company's Vice-Chairman Salman Fazlur Rahman, who has been in jail since the change in the political landscape in August 2024.

The Bangladesh Securities and Exchange Commission (BSEC) on Tuesday decided to accept the board restructuring proposal at a meeting at the BSEC office. The decision was made considering the interest of the drug manufacturer and its investors.

Moreover, the company has a si...