Allied Blenders and Distillers Limited has informed the Exchange about change in Management - Relinquishment of Mr. Anil Somani as CFO
ABDL · price
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Allied Blenders and Distillers Limited (ABDL) announced that Mr. Anil Somani will relinquish his position as Chief Financial Officer and Key Managerial Personnel effective close of business on October 9, 2025. He will, however, continue to work with the company on special projects. The Board approved the appointment of Mr. Jayantt Bhalchandra Manmadkar as the new CFO and KMP effective October 10, 2025. Mr. Manmadkar is a qualified CA, ICWA, and CS with over 32 years of experience across finance, strategy, M&A, and corporate governance roles at companies including Seagram India, Brigade Enterprises, Mahindra Lifespace, Wockhardt, and Reliance Retail. Separately, the company also cleared a postal ballot to revise the remuneration of Managing Director Mr. Alok Gupta and Executive Director Mr. Arun Barik, pending shareholder approval.
An orderly CFO transition with a planned handover and the outgoing CFO staying on for special projects reduces execution risk. The incoming CFO brings deep finance and strategy experience, which investors may view positively. Shareholders will separately vote on revised remuneration for the MD and Executive Director.